Banking Sector: In For A Rough Ride

The Turkish banking sector is in a fair position to weather a protracted global credit crunch and domestic economic downturn, with risks to solvency likely to remain limited relative to peer economies in south-eastern Europe. That said, there is no question that asset growth and profitability will decline markedly in 2009, with the potential to fall into negative territory. We stress that over the long term, the sector remains a positive growth opportunity and will be very well positioned to take advantage of an economic recovery.

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