Turkish banks stronger than many in EU, US: Minister

Turkish State Minister for Economy Babacan said, "the banks in Turkey are much more stronger than many banks in Europe and the USA in terms of capital and liquidity."

Turkish banks stronger than many in EU, US: Minister

 

Turkish Deputy Prime Minister and State Minister for Economy Ali Babacan said, "the banks in Turkey are much more stronger than many banks in Europe and the USA in terms of capital and liquidity."

In a televised interview with a local TV channel in western province of Mugla, Babacan said, "the reforms we made in the banking sector between 2003 and 2006 are the most important factors protecting Turkey from the effects of the global financial crisis. When we look at figures of capital and liquidity, the banks in Turkey are much more stronger than many banks in Europe and the USA."

"We did not face any problem in our banking sector. But the global financial crisis affected our exports. There was a harsh decrease in exports to the European countries. Such a decrease in our exports led to a shrinkage in our economy.

However, our economy has begun quickly recovering this year since we succeeded in ensuring confidence in markets," he added.
 

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Last Mod: 21 Ağustos 2010, 16:59
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