December 20, 2018 / 12:13 PM / 9 months ago

Bad loans may rise in Turkey but nothing to worry about, Garanti CEO says

ISTANBUL, Dec 20 (Reuters) - The Turkish banking sector may see an increase in bad loans, the chief executive of Garanti Bank said in response to Reuters questions on Thursday, adding he thinks there is no need to worry.

“We might see some increase in non-performing loans but I do not think it is a worrying situation,” Ali Fuat Erbil said.

“We have started to observe an increase in non-performing corporate loans but the sector’s ratio is still at a reasonable level.”

Garanti is owned by Spain’s BBVA. Erbil said he expects slower lira loan growth in 2019 and a continued contraction in foreign currency loans. (Writing by Ezgi Erkoyun; Editing by Daren Butler)

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