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Turkish banking system healthy, solid'

Turkish banking system healthy, solid'
Banking system will continue to contribute to Turkey's economic growth, head of banking association

By Tuba Sahin

ANKARA (AA) - Turkey's banking system is healthy and solid, president of the Turkish Banking Association (TBB) said Monday.

Speaking at Anadolu Agency's Finance Desk, Huseyin Aydin said the banking system will continue to contribute to Turkey's economic growth.

"Turkish banking system is strong enough to meet credit demands of its customers," Aydin said.

He underlined that capital-to-risk-weighted-assets ratio of Turkish banks at 14% is at least 50% above the globally accepted ratio of 8%.

"Turkish banking system repaid all loans and syndications on time," he said.

Aydin, who is also the head of Turkey's largest state-run lender Ziraat Bank, addressed CPI-indexed mortgage loans provided by the bank to back housing sales.

"We wanted to bring forward the demands of our customers who postponed housing purchase," Aydin said.

Housing sales in Turkey dropped more than 30% year-on-year in May, according to Turkish Statistical Institute (TurkStat).

The mortgaged house sales amounted to 5,231 -- going down 85.8% year-on-year -- with a 6.4% share of all sales in May, TurkStat data showed.

source: News Feed
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