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Fitch: Turkish banks need greater efficiency
Fitch Ratings said that despite an improvement in overall performance during the first half of 2006, Turkish banks will need to monitor asset quality amid the rapid loan growth and further improve efficiency as competition intensifies.
"The recent turbulence in the financial markets in Q206 has had a limited and temporary adverse impact on Turkey's private commercial banks in general," Gulcin Orgun, director at Fitch's financial institutions team, said in an agency report.
"The banks have become much better capitalized in both absolute terms and as a proportion of assets. Net FX losses through net open positions and marked-to-market losses on securities portfolios did not cause the negative impact that it would have done five years ago."
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