Business & Finance

Reuters exclusively reports Turkey’s banks set for capital healing after pandemic battle

Reuters exclusively reported that Turkey is considering a fresh capital injection for state banks, but they also need a plan to deal with lingering bad debt after lenders depleted their resources helping Ankara’s battle against COVID-19. While privately-held peers were more conservative, the state banks nearly doubled their lending last year, helping the $720-billion economy avoid a contraction and mount a strong recovery helped by a speedy coronavirus vaccination campaign. Now, authorities want the lenders to be ready for another burst of credit later this year or next to meet pent-up demand from builders and other borrowers.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Europe / Middle East / Africa
Countries: Turkey
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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