The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Turkey’s lending boom still booming

Despite conflicting views on the state of the economy and uncertainty caused by political unrest, banks are riding high on mortgage lending and consumer loans. There is still huge untapped potential for credit cards. High interest rates remain the fly in the ointment, however. Julian Marshall reports.

Even in good times Turkey is vulnerable


WHILE BANKERS WORLDWIDE struggle through hard times and contemplate wide-scale redundancy programmes, their counterparts in Turkey remain ebullient.

This is despite clear troubles on the political front that have brought people onto the streets to protest about the future direction of the country, in the light of the appointment of a president with a strong Islamic conservative background. And despite conflicting views on the economy, the most pessimistic of which came from Standard & Poor’s, which revised its outlook on the country’s creditworthiness from stable to negative (see Even in good times Turkey is vulnerable, Euromoney, June 2008), the banking market remains buoyant.

Tanju Yuksel, Vakifbank

"Mortgage lending will be the main driver behind loan book growth"
Tanju Yuksel, Vakifbank

Tanju Yuksel, general manager responsible for investors and international relations, at Vakifbank, gives a fair representation of the health of the banking sector, when he describes how his bank is aiming to expand its market presence, which already stands at 490 branches. "We are growing our bank network extensively," he says.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree