Banking sector to grow if Turkey reaches'investable' level

Garanti Bank's CEO Ergun Ozen said Moody's was preparing an infrastructure and that was why it was easy to guess their upgrade.

Banking sector to grow if Turkey reaches'investable' level

Garanti Bank's CEO Ergun Ozen said that Moody's was preparing an infrastructure and that was why it was easy to guess their upgrade.

Ozen replied the questions of Anadolu Agency's (AA) reporters and assessed the recent developments in Turkey's finance sector as he was the guest speaker of the agency's Finance Desk in Istanbul on Friday.

CEO Ozen touched on the recent upgrades of international credit rating agencies on Turkey and said, unfortunately when looking at it from the point of S&P, it would not be easy.

"If you ask, if there would be a S&P upgrade, I believe it will definitely come. I think that during their first meeting in June, we may receive some signals. There is a probability of its coming however it may happen next year too," stressed Ozen.

He underscored the changes in Mexico and Brazil after their credit ratings were upgraded to "investable" level by Moody's and said that once they received Moody's level of "investable", there was a speedy growing in banking sector.

He added that once Turkey received the "investable" level, there was a serious growth expectation in Turkish banking sector.

AA

Last Mod: 24 Mayıs 2013, 14:33
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