Schroder, Salomon, Smith & Barney (SSSB), upgrade Turkeys credit rating following their revision of Turkish banking sector forecast earnings fo...
SSSB estimated a 22% growth in earnings for the Turkish banking sector this year in its latest report. The report emphasized that the banking sector was more liquid this November in comparison to last November, and that the sector had assumed a mid-term, rather than a short term, outlook and investment prospective this year. The report further revealed that there were signs of revitalization in the sector and that this recovery would increase even further following the third quarter of the year.
SSSB also maintains that structural reforms would accelerate this year, which will present a more translucent outlook for foreign investors with respect to Turkeys financial prospects.
The SSSB report also expressed that loan interests would also decline following a rise in deposits, a decline in interests and a successfully operating banking sector. The report also applauded the fiscal and borrowings policies of the Treasury and the Central Bank, presenting this as the leading reason for the banks liquidity.
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