Babacan warns against number of banks in Turkey

Babacan said Thursday they did not want the number of banks in Turkey to be out of control.

Babacan warns against number of banks in Turkey

Turkish State Minister and Deputy Prime Minister Ali Babacan said Thursday they did not want the number of banks in Turkey to be out of control.

In a video message broadcast at the General Assembly of the Banks Association of Turkey (TBB) on Thursday, Babacan said that "on one hand we are against oligopoly and want competition. On the other hand, we do not want a huge increase in the number of banks in Turkey that would make it hard to supervise and inspect the banks".

We implement stress tests to banks. We help the banks take preventive measures when we notice problems in their functioning, Babacan said.

We now see a banking system in Turkey that is more responsible and careful and takes lessons from international experiences. Banking in Turkey is being conducted very professionally. I am confident to state this, Babacan said.

Touching on the growth rate of the Turkish economy, Babacan said that the Turkish economy grew 6 percent in the last quarter of 2009.

In the first quarter of 2010, we expect a double digit growth for the Turkish economy, Babacan also said.


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Last Mod: 28 Mayıs 2010, 08:29
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