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Bank Industry Risk Analysis: Turkey (Republic of) Mar 03
Standard & Poors, March 2003
Abstract
The Turkish banking sector has a very high risk profile. This is the product of the country's fragile economic and financial environment. Most of the factors behind the ratings on the Republic of Turkey (B-/Stable/C) constitute major risks for the banks. The government's huge budget deficit and interest rate burden mean that banks, which finance the majority of domestic government debt, are at the mercy of the state's monetary policies and are also vulnerable to the latter's potential payment problems. In addition, banks face the challenge of improving their poor asset quality and capitalization, diversifying revenues, and reducing the high-risk practice of intragroup lending. The Turkish economy and its banking sector have been through several crises in the past decade....
Companies mentioned in this report are: HSBC Bank PLC,Turkey (Republic of),T.C. Ziraat Bankasi A.S.,Turkiye Garanti Bankasi AS,Turkiye Is Bankasi AS,Turkiye Vakiflar Bankasi TAO,Yapi ve Kredi Bankasi A.S. (former),Turkiye Halk Bankasi A.S. ,Pamukbank T.A.S.,Yapi ve Kredi Bankasi A.S.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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