Moody’s: Turkey banking view is negative

Moody's Investors Service said its outlook for Turkey's banking outlook is negative for the second consecutive year, owing to subdued economic growth and currency volatility, which will reduce growth opportunities for banks and impair borrowers' ability to service their loans.

Alongside moderate asset-quality erosion, the system's reliance on capital markets funding exposes it to international investor confidence and potential spikes in funding costs in light of the upward pressure on dollar-denominated benchmark rates, the agency said.

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