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Financials

Moody's expects problem loans at Turkish banks to rise to more 4 percent

ISTANBUL, July 16 (Reuters) - Moody’s ratings expects problem loans at Turkish banks to increase to more than 4 percent of loans over the next 12-18 months compared with a low of 2.9 percent in May, the ratings agency said in a statement on Monday.

Moody’s said a spike in the problem loans was credit negative for Turkish banks. A strong, consistent rise in problem loans would also weaken asset quality and require larger loan-loss provisions. (Reporting by Ezgi Erkoyun Editing by Eric Meijer)

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