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TURKEY: Banking Sector Outlook Revised to ‘Improving’ - Fitch Ratings

TURKEY
  • Fitch Ratings has revised its Turkish banking sector outlook to ‘improving’ from ‘neutral’ on reduced external financing pressures and macro and financial stability risks following Turkey's adoption of more conventional macroeconomic policies after last year’s presidential election.
  • "Increased investor confidence in Turkiye’s policy framework has led to an improvement in the CBRT's FX reserves position, lower dollarisation and better access to external financing for banks. As a result, banks’ FX swaps with the CBRT, a significant proportion of the sector’s foreign-currency liquid assets, have reduced significantly. These factors should all continue to support financial stability." Fitch Ratings write in a note.
  • Full note here.
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