February 19, 2019 / 3:04 PM / 6 months ago

S&P sees Turkish lira falling till 2022, bad loan levels doubling

LONDON, Feb 19 (Reuters) - Credit rating firm S&P Global expects Turkey’s lira to fall steadily for the next three years and the level of bad bank loans to double to 8 percent in the next 12 months.

“We see the currency steadily depreciating all the way to 2022” S&P sovereign analyst, Maxim Rybnikov, said during a webcast question and answer session on Tuesday.

Banking sector analyst Magar Kouyoumdjian added that the level of non-performing loans (NPLs), defined as loans with payments at least 90 days overdue, would top out at around 8 percent around the end of the year although a broader definition of problem loans would reach 15-20 percent.

“The question is whether we have seen the last of the crisis,” Kouyoumdjian said. (Reporting by Marc Jones; editing by Tom Arnold)

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