Loan growth won’t reach 20% this year: Is Bank CEO

Dünya Executive - - OVERVIEW -

Banking sector loan growth may exceed 15 percent this year, lower than an expected 20 percent, Is Bank Chief Executive Adnan Bali said on Wednesday, adding Credit Guarantee Fund-backed loans may slow down in the rest of the year. Speaking to reporters following a meeting in Istanbul, Bali said Is Bank granted around 15 billion lira worth of loans backed by the Credit Guarantee Fund, a Turkish government initiative guaranteei­ng loans to smaller businesses. Authoritie­s have been trying to boost the banking sector, and the economy in general, with looser banking regulation­s and the state-backed fund to facilitate and stimulate lending to businesses.

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