Turkey risks an explosion of NPLs — EBRD

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Turkey risks an explosion of NPLs — EBRD
 © CyprusMail 2020
Forced to provide credit to support Turkish businesses in the country’s stalled economy, Turkey’s banks risk seeing an explosion of non-performing loans, the European Bank for Reconstruction and Development (EBRD) said on Monday.

“The NPL issue is an elephant-in-the-room,” Roger Kelly, the EBRD’s Istanbul-based lead regional economist, said in an interview with Bloomberg . A boom in credit increases the risk of taking on riskier clients and means much of the debt banks hold is relatively young, he noted.

At Turkish banks, loan books have expanded 34 per cent this year through October, the EBRD...


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Turkey risks an explosion of NPLs — EBRD


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Article Tags: turkey, risks, explosion,