Turkey Banking & Financial Services Q1 2020

Key View:

Over the long term our view on Turkey's banking and financial services market is positive based on the market being wellregulated, stable and competitive, and with the local capital market boasting relatively high liquidity. We note that there are plenty ofnear-term headwinds facing the four markets we track, with downside risk growing within each. We point to the lira remainingvulnerable to market jitters and policymakers risking exacerbating imbalances and pushing the economy onto a unstable growthpath as key factors shaping this view. In the banking sector conditions are becoming increasingly challenging, and we expect to seethe sector continuing to deleverage as financing conditions remain unfavourable. This has seen the government becomeincreasingly proactive in order to address the sector's fragile funding structure by speeding up the recovery in public banks’ balancesheets. A significant development this quarter has seen Turkey's plan to establish its own credit ratings agency realised through theacquisition of JCR Eurasia. We see the larger non-life market continuing to enjoy far greater premiums growth in the insurance arena,the asset management industry remains largely underdeveloped and the Borsa İstanbul exchange is continuing to struggle inattracting new listings.

Key View
Banking & Financial Services SWOT
Banking Snapshot
Turkish Household Credit Demand Key To Loan Growth
Forecast Tables
Competitive Landscape
Regulatory Environment
Insurance Snapshot
Competitive Landscape
Regulatory Environment
Asset Management
Asset Management Snapshot
Competitive Landscape
Regulatory Environment
Stock Exchanges
Stock Exchanges Snapshot
Competitive Landscape
Regulatory Environment
Macroeconomic Forecasts
Turkey's New Economic Program Raises Challenges For Policymakers
Macroeconomic Forecasts And Gross State Product
Household Income Forecasts
Turkey Demographic Outlook
Banking & Financial Services Methodology

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