So... how safe is your money in Turkey?

[Colwyn]

Karennina, I meant ISA Stocks & Shares in UK.
Davybill, ISA S&Ss are protected to investment funds going broke to £50,000 per fund. There are no guarantees about stock markets at all - as I'm sure you know. Are they more or less risky than Turkish banks? Make your guess. But with US markets giving 26% return per annum it is less than 4 years to get your original stake back if you take the extra out each year - which I do.

[yabanci]

Reg does not seem to be a big fan of the recent Credit Agency downgrading either..

http://www.hurriyetdailynews.com/erdogan-blasts-credit-rating-agencies-what-is-the-referendum-to-you.aspx?pageID=238&nID=109452&NewsCatID=344

[Colwyn]

Ooooh, he's holding up his finger. There's someone else who does that!

[sadler]

Perhaps it's the sign of a secret cult!

[JohnF]

I don't think we're anywhere near that point just now, the retail banking sector in Turkey is an attractive investment for foreign companies.  Finans is now owned by the National Bank of Qatar and Garanti is 40% owned by BBVA, one of the largest financial institutions in Spain.  Akbank is owned by the Sabancı family who probably have enough dosh to buy Turkey if they wanted.

Well, I know their credit ratings were downgraded but it looks like I was right about the banks still being attractive to foreign investors.  Garanti and Halk bank shares were the leading way, $150m and $90m respectively traded on the Borsa to foreigners last month.  Turkish airlines weren't far behind, $86m traded since turn of the year.

The weak lira has a lot to do with this, but even so its good to inward investment rising again.

JF

[JohnF]

As further confirmation that Turkish banks are looking good for foreign investment, in the past few days BBVA (second largest bank in Spain) just ploughed another 3.32Bn lira into Garanti taking their stake in the bank to just under 50%.

Good news all round I reckon.

JF

[Karennina]

I know i am a bit of a thicky twitty re financial matters am i classed as a foreighn investor? This does sound like good news   

[Colwyn]

am i classed as a foreighn investor? This does sound like good news   

Definitely a bull rather than a bear.

[JohnF]

am i classed as a foreighn investor?

No, unless of course you've got a few million dollars stuffed under your mattress and fancy owning a chunk of a Turkish bank  

JF

[Karennina]

Oh ha no i dont have so my little retirement sum in a Turkish bank does not count to this! Colwyn as it happens I am a Taurus