|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.9760 - 2.0000|
|52 Week Range||1.1700 - 2.0300|
|Beta (5Y Monthly)||1.05|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr 22, 2018|
|1y Target Est||N/A|
ISTANBUL/ANKARA, Sept 20 (Reuters) - Turkey forced banks to take losses on $8 billion in bad loans this week to kick-start lending and boost its economic recovery after losing patience with them, bankers, senior government officials and industry advisers told Reuters. Ankara's most aggressive move yet to cure a hangover from Turkey's 2018 currency crisis has left banks scrambling to meet a year-end deadline to restructure loans or ready them for sale. Turkey's bank watchdog had been calling bank executives in recent weeks, after three months of talks failed to deliver action, to tell them what portion of loans they should reclassify as non-performing https://tmsnrt.rs/2Oa8lll and to make provisions, two sources said.
The risk of full-blown banking crisis in Turkey has eased in recent months as the lira has stabilised, credit rating agency S&P Global said on Monday. In a webcast question and answer session, S&P's lead Turkey analyst Maxim Rybnikov said the domestic currency's recent stabilisation had helped the situation in Turkey's financial system, although strains remained particularly in terms of bad, or non-performing loans (NPL). At the same time he downplayed the likelihood of capital controls in Turkey, saying they were "very far" from S&P's baseline expectation and would only be used as a last resort by the country's government.
Efforts to clean up Turkey's bad debt have stalled after bankers rejected or put on hold initial plans, according to people familiar with the matter, frustrating the country’s attempts to leave behind the worst of last year's currency crisis. Interviews with more than a dozen bankers, companyexecutives and advisers show that there has been little progressover the past three months with plans to help lenders to Turkey’s construction, real-estate and energy companies that can no longer afford roughly $20 billion of debt. "Everything is just at a standstill," said a banker involvedin discussions between lenders, companies and governmentofficials, who asked not to be named.
Turkish banks have not yet agreed on a model for a fund that will remove problem loans in the construction and energy sectors off banks' balance sheets, the Treasury and Finance Ministry told Reuters on Wednesday. The ratio of problem loans in Turkey's banks has increased sharply in the wake of a currency crisis that saw the lira lose nearly 30% against the dollar last year. Finance Minister Berat Albayrak announced in April a plan to remove bad loans from banks' balance sheets, which included the formation of two funds to which energy and constructions loans will be moved.
Developing world investors hope the Fed will continue to show patience at its two-day meeting starting on Tuesday, with some pricing in lower U.S. borrowing costs, following a bruising 2018 which saw capital drain away from emerging markets as the Fed boosted returns on holding dollars. Hints of possible upcoming rate cuts "would be like oxygen for emerging market sentiment in 2019," Vladimir Miklashevsky, senior economist and trading desk strategist at Danske Bank, wrote in a note.
Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations NEW YORK , March 18, 2019 /PRNewswire/ -- Virtual Investor Conferences ...
NEW YORK , March 7, 2019 /PRNewswire/ -- Virtual Investor Conferences and OTC Markets Group Inc. today announced the agenda for its next OTCQX® Virtual Investor Conference on March 14, 2019 featuring regional ...