Evaluating the latest developments in the banking sector on Monday in İstanbul, Eroğlu said 2010 would bring new opportunities for the Turkish banking industry, noting that these would be reflected in growth rather than increased profitability as in 2009. “Banks will focus more on growth in 2010 than they did in 2009.”
Eroğlu asserted that Turkish banks enjoyed a profitable year in 2009 thanks to strong assets and equity. The TSKB head said Turkish banks had played a prominent role in minimizing the effects of the global financial crisis on the private sector.
Recalling that many large economies had introduced billions of dollars of stimulus packages in a bid to keep their banks alive, he said there was no need for such measures in Turkey. He said they expect loans to grow in 2010 as well. “We expect the increase in loans will continue throughout the year, but at a slow pace. We can’t say that the Turkish banking industry will enjoy a similar rejuvenation in 2010 as it did, for instance, in 2006 and 2007, but it is clear that things will be even better than in 2009.”
Eroğlu said the TSKB extended some $750 million in loans in 2009 and that they expect to increase this number to $1 billion in 2010. “There was an increase in loans that we provided in 2009 when compared to 2008, and this will continue in 2010.” He also noted that the TSKB expected to receive loan support from various sources in 201.
