Statement by Fitch about Turkish banks

Fitch Ratings stated that the Turkish banking sector’s foreign exchange liquidity is sufficient to meet short-term market sensitive external financing needs.

7.12.2020 16:33:000

Fitch, the international credit rating agency, published the data report containing the financial data and balance sheets of Turkish banks for the third quarter of the year.

In the report, in which possible consequences of banks’ loan profiles were analyzed, it was stated that the loan growth rate in Turkish banks eased in the third quarter of this year.

In the report, which stated that the problem loans in Turkish banks decreased to 4.1 percent at the end of September, it was emphasized that the core capital ratios of most banks were sufficient.

Fitch report, which includes 13 banks, “The foreign exchange liquidity of the Turkish banking sector is sufficient to meet short-term market sensitive external financing needs. Considering the volatile market conditions, refinancing risks are high, but banks maintained reasonable access to external financing in the Kovid-19 outbreak. ” was evaluated.

The report argued that Turkish banks’ access to foreign currency liquidity has become highly dependent on the central bank.

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