While the growing global Islamic bond ( sukuk) market represents an increasingly important source of financing for businesses across the world, to date interest has been fairly limited in Turkey. However, the market is expected to grow rapidly, partly thanks to legal changes that make sukuk issuance more attractive, as well as the...
THE COMPANY: TAV Airports Holding was established in 1997 for the purpose of building and operating Istanbul Atatürk Airport (IAA) from 2000-05. With a market share of 41%, it is Turkey’s leading airport operator, managing three of the country’s largest four. In addition to IAA, which is one of the...
Private equity investors are increasingly being drawn to Turkey by its fast-growing economy, macroeconomic and political stability, strong demographics and abundance of family-owned businesses. Many large buyout deals have been struck in recent years, but more opportunities for growth may exist for private equity funds that are willing to invest in...
With 2023 the centennial of the establishment of the Republic of Turkey, elections in 2011 saw the government unveil a long-term vision for the country’s development that stretches ahead for more than a decade. The ruling Justice and Development Party (AKP), able to capitalise on an unprecedented period of political stability after winning its third...
While some peers have struggled following the global economic crisis, Turkey’s banks have grown rapidly in recent years. Moreover, they remain healthy, liquid and well capitalised. Profits declined in 2011, particularly at the larger banks, as interest margins fell due to competition for loans and increased funding costs. However, there is still...
The year 2012 is scheduled to be a banner one for privatisation in Turkey, if all goes according to plan, with moves ahead on gas and electricity grids, bridges, highways and ports. Yet these plans are also likely to be subject to the temperature of the global economy, as those charged with organising the sell-offs try to launch when investor...
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