Credit Crunch

[barry44544]

I see the exchange rate has changed slightly, does the world banking crisis seem to be reflected in the banks and money changers of Calis and Fethiye?

[braveheart]

Barry44544
I am not qualified to answer, but taking into consideration the present turmoil in the worlds banking systems and stock markets, it would be interesting to hear the points of view from our business oriented members concerning our Turkish banks

Do we offload or sit tight?  - easy question - not so easy to answer

[barry44544]

i've been in england for the last 5 weeks, watching the world banking system in turmoil mainly caused by property debts. i'm surprised our resident pundits have a local view?

[Crabbit]

I`d answer if I understood the question.      

[c1]

banks grew on paper profit, based on inflated balance sheets/ assest values,started to trade in derivatives some did well for some time, and now likea house of cards they are tumbleing.inter bank lending at stand still as they the banks don't trust each other. utter chaos, not helped by brown lead country. I shall not say I told you so. I reckon we ain't out of the wood yet by a mile.

[my way]

As a former businessman from the UK this is my view and not neccesarily of others:

I think your money is safe here throughout the credit crunch. Turkey is very much still an emerging market and I predict a further ten to fifteen years of good growth. There is still much foreign investment in Turkey and very solid monetary support. Furthermore, there is a lot of deposit banking in this country. The banks are cash rich as apposed to asset rich as our banks are. The banks here are in charge of a lot of money but they dont own a lot of houses. That puts the banks in a very strong position. Politically, Turkey is on a very even keel too. That helps tremendously.

[chris tippett]

Thank you My way for that very reassuring and consise report. Watching the chaos around the world on Sky I am still concerned about having the bulk of my savings here in Turkey. Bearing in mind that banks are crashing in America and Europe does anyone know where it is best to find up to date and reliable information on the financial strength of individual Turkish banks?

[Harley]

quote:Originally posted by chris tippett

 Bearing in mind that banks are crashing in America and Europe does anyone know where it is best to find up to date and reliable information on the financial strength of individual Turkish banks?

As you've already said banks are crashing all over the world.  No one is safe, it's just pot luck.  You could say the same about purchasing property...  You pay your money, you take your chance...  As much as i would hate to loose my hard earned cash I'm not going to loose any sleep over it.  If the worst happens I'll just have to work harder.

[captainjon]

Hi, all, the turkish economy declining is the reason for todays fall in the lira.See todays Zaman for full explanation. See also the editorial on the bank guantee scheme aplicable to turkey banks.

[savoyboy]

The looks good today.wounder what made it jump on monday.