The truth about Asian investment banking
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August 2010

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Research guide: The 2010 guide to Turkey


Turkey emerges stronger from global crisis

Fiscal rule puts budget deficit on autopilot

Turkish banking sets an example

Unrivalled investment house

New sources of investment


Turkey emerges stronger from global crisis
When has an emerging market ‘emerged’? The spectacular
growth rate achieved by Turkey’s producers, lenders and
consumers as the eurozone grapples with a sovereign debt
crisis shows, according to IS Investment, that Turkey is now
an ‘emerged market’

Fiscal rule puts budget deficit on autopilot
The Turkish government has introduced a fiscal rule that
will set the budget deficit at a maximum of 1% of GDP. The
policy aims to support the economy, providing an autopilot
irrespective of governments

Turkish banking sets an example
Turkey’s banks needed no assistance from government
during the financial crisis and last year posted an average
increase in profits of 50%. Key indicators of the health
of the financial system remain strong. Perhaps European
banks should look more like their Turkish counterparts

Unrivalled investment house
IS Investment remains unchallenged as Turkey’s top investment
house. This year, for the first time, the ‘Best Investment
Bank’ award by Euromoney was given to IS Investment. Last
year it posted a net profit rise of 53%. As the M&A and
IPO markets recover, the outlook is brighter than ever
New sources of investment
IS Investment continues to arrange M&A deals, an area
where Koc observes an interesting trend. “FDI in this
area was essentially coming from the United States and
Europe after 2000,” he says. “Then the source of the
inflows shifted to the Middle East and Russia. Now, we see
demand from other emerging markets, such as India, Brazil
and Egypt.”

Download PDF guide








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