4/1/2009

Turkish banks to see significant 2009 profits

Reuters - Ersin Ozince, CEO of Turkey’s Isbank, said he expected the Turkish banks to post significant profits in 2009 thanks to increased free capital. The Turkish banks have proven resilient to the global financial crisis on the back of the absence of toxic assets, analysts say, whereas non-performing loans have increased as more companies and consumers failed to repay their debt.