Korfez changes ahead of tough times

Turkey: Sustaining the unsustainable

Turkey’s determinedly weak currency

Akbank shakes off the bonds of history

When small is beautiful

For five consecutive years the small Korfezbank was Turkey’s most profitable bank. But most of its profit came from treasury operations ­ a euphemism for buying and selling high-yield treasury bills and doing virtually nothing else. In a country where lending to the government is the biggest industry, this was not all that out of the ordinary.