Moody's: Turkish banks continue stable-to-positive outlook

The medium-term stable-to-positive outlook for Turkey's banking system reflects the banks' developing franchises and strong financial metrics, Moody's Investors Service said in its new banking system outlook for Turkey.

The agency also said it takes into consideration financial markets turbulence that could disrupt projected franchise development and hurt short-term financial performance, depending on its severity and duration.

The long-term potential of the Turkish banking market has attracted interest from foreign banks, which have made significant investments in the sector, buying controlling stakes in local banks.

Moody's said it believes that the involvement of foreign banks will give direction to the next phase of Turkish bank franchise development, which is likely to involve further development of distribution networks and the introduction of new products and capabilities.

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