Moody's forecast of tough year for Turkish banks on bad loans

Increased nonperforming loans will have significant effect on profitability of Turkish banks, says credit rating agency

Moody's forecast on Turkish banking sector — Moody's says Turkish bank profits will be hit by rise in bad loans Source: AAP

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Published 10 January 2017 9:31pm

Updated 11 January 2017 10:08am

By Nilgun Kilic

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International credit rating agency Moody’s Monday forecast that Turkish banking sector profits will be hit significantly in 2017 by rising non-performing loans.

Deputy Prime Minister Nurettin Canikli said Moody's is aware of the government's measures on the issue; however, it is trying to build a perception through its predictions in a non-ethical manner.