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Turkish Current-Account Deficit Biggest 2012 Risk, Anatolia Says

Jan. 1 (Bloomberg) -- Turkey’s biggest risk in 2012 will be financing its current-account deficit, not slowing growth, according to Ergun Ozen, chief executive of Turkiye Garanti Bankasi AS, the state-run Anatolia news agency said.

Financial resources will decrease due to Europe’s debt crisis, Anatolia cited Ergun as saying.

Turkish banks will struggle to maintain profitability in 2012 after government and central bank moves to slow credit growth, raise reserve ratio requirements and cap fees and commissions on some banking products, Ergun said, according to Anatolia.

Turkey has 125 bank branches per one million citizens compared with a euro zone average of 560 branches per million, Ergun was quoted as saying.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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