Published On: Sat, Jun 9th, 2018

Regarding Moody’s decision SIMSEK says Turkey’s banking sector is healthy & sound




Regarding Moody’s decision SIMSEK says Turkey's banking sector is healthy & sound

Turkish Deputy Prime Minister Mehmet SIMSEK – BusinessTurkeyToday.com

 

Following Moody’s decision SIMSEK, deputy PM responsible for economy said “Our banking sector is healthy and sound. The capital adequacy ratio is 16.7 percent and 15 percent even after the exchange rate and interest rate increase”. SIMSEK who shared his evaluation on Twitter also mentioned that the ratio of the subordinated loans was 2.9 percent and the general provision was 75 percent. He added that the return on equity of the sector was 16 percent.

He said “Turkey’s debts have not increased and the ratio of the gross public debt stock (internal + external) to national income was 72 percent in 2002 – which went down to 28.3 in 2017”.  The world average is 87 percent“.

SIMSEK went on to say “The ratio State’s net debt stock to national income has fallen to 8.4 percent from 60 percent. So the ratio of external debt, including private sector is 53.3 percent which was 57 percent in 2002. The ratio of total household debt to national income is 18 percent. This is lower than the world average which is 59 percent. All these figures are obtained from the IMF database, and it is best to get the rate of indicators to national income for comparison with other countries.

Referring to the statement made by President Erdoğan that OHAL could be lifted after the election, SIMSEK commented as “return to normal”.





Web
Analytics Made Easy - StatCounter



Pin It