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More foreign lenders in Turkey will improve the local competition, supporting efforts to make the country a finance hub, according to the chairman of İşbank, largest local lender by assets.
Structurally strengthening capital markets, a decrease in the gray economy and sectoral dynamism have revitalized foreign lenders’ interest in the market, Adnan Bali said in an interview with Anatolia news agency. “I think that the activities of foreign banks in Turkey will positively affect the local sector and raise the level of competition, while contributing to the perception about Turkey as a finance center in its region,” Bali said, Hurriyet Daily News report.
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