Turkey’s banking authority BDDK said total banking assets had increased 7.3% since the end of 2016, reaching a total of $826 billion.
Not long ago, Romania was synonymous with sluggish growth, underperformance and corruption. Analysts acknowledged its huge potential but said it wasn’t being realized.
During complex times for Turkey, banks, at least, can rest assured that their system is running smoothly, is well capitalized and well regulated.
Asian Development Bank Section: ADB Annual Meeting
Last year’s historic Asian Development Bank (ADB) annual meeting in Baku, Azerbaijan saw the bank and member countries commit to a wide range of goals and reforms.
When the Justice and Development Party (AKP) swept elections in November, financial markets were focused neither on prime minister Ahmet Davutoğlu, nor on president Recep Tayyip Erdoğan. All eyes were on new deputy prime minister Mehmet Şimşek, the former Finance minister, who may be the only reformer within the largely statist AKP.
Short-term risks have not dimmed the country’s economic prospects. That may explain why FDI from Asia and Gulf nations is surging.