TBB: S&P's view on Turkish banks' bad loans baseless

Published 21.02.2019 00:32

Standard and Poor's views regarding problem loans in Turkey's banking sector do not take into account recent improvements and are baseless because they are based on the worst case assumptions, the Banks Association of Turkey (TBB) said Wednesday.

"Our banking sector has a strong and healthy structure. It is equipped to cope with unexpected risks and has the experience to manage them," the TBB said.

S&P said on Tuesday it expects the non-performing loan ratio to top out around eight percent, double the current official levels. It added a broader definition of problem loans would reach 15-20 percent.

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