Turkish Banks Resist Calls to Curb Consumer Loans During Faceoff

Bloomberg Quint | Sep 7, 2021 at 2:51 PM
  • Turkish lenders are resisting demands from the banking regulator to curb growth in consumer credit.
  • The meeting was held as part of regular discussions with lenders, and included Alpaslan Cakar, head of the Banks Association of Turkey and chief executive officer of the country’s largest state-run lender, Ziraat Bankasi AS.
  • The central bank’s reluctance to raise interest rates has meanwhile helped to keep up demand for debt from consumers in an economy that grew at a record annual clip of 21.7% in the second quarter.