Banking

Turkey’s banking sector has proved resilient in the face of both the global economic crisis and more recent fluctuations in the economy. Loan growth remains fairly high by developed-market standards but has fallen in recent years, reflecting the market’s increasing maturity as well as regulatory moves to contain credit expansion with an eye on risk profiles. In the medium to long term, the market should benefit from the large population, the scope for growth in a country with moderate levels of banking penetration and the expansion of a diversified economy. The outlook for the longer term remains positive. Turkey is one of the world’s largest emerging economies and has a sizeable and growing population and a diversified economic base. The continued entry of new players to the market is indicative of the sector’s potential.

This chapter contains interviews with Erdem Başçı, Governor, Central Bank of the Republic of Turkey; Ali Fuat Taşkesenlioğlu, CEO, Halkbank; Suat İnce, Deputy Chief Executive, Türkiye İş Bankası; and Hikmet Ersek, President and CEO, Western Union.