The international credit rating company Fitch Ratings announced on its official website that mild economic growth, competition for deposits and the mild deterioration of asset structures will likely increase pressure on Turkish banks in 2015. Fitch also noted that while strong capital and profitability are stable, the increase in dependency on short-term foreign exchange financing poses a risk."Our base scenario proposes that growth in the medium-term will be lower than the currently high levels in the short-term. The volatility in manageable interest and foreign exchange rates will continue and access to international financing will continue [as well]," Fitch wrote.The announcement further emphasized that there is risk of deterioration in the asset quality and credit portfolio in the Turkish banking sector, and underscored that the increase in consumer credits as well as the devaluation of the Turkish lira will weaken the debt management capacity of debtors that have obtained foreign exchange loans."High interest rates and competition for deposits will push the cost of financing up. However, since Turkish banks in the past have re-priced the loans, the increase will be a mild one," read the announcement.With the foreign exchange liabilities of Turkish banks constantly increasing, the announcement stated that as of the end of 2008, Turkey's foreign exchange debt had tripled and most of the loans being given are short-term loans. As a result, the announcement underscored that investors' perception is remarkably reliant on the fact that, if a sudden change occurs, the banks will cut off access to the markets. However, the announcement also added that, in most of the projected scenarios, foreign exchange liquidity will be adequate.