Turkish Banks Turn the Corner as 2020 Earnings Outlook Brightens
- Lenders set to post first quarterly profit gains for 2019
- Jumbo interest-rate cuts help stoke demand for credit
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After a dismal two years, things are looking up for Turkey’s banks.
The nation’s six largest lenders will report their first quarterly profit gains after three straight quarters of declines, according to the median estimate of 15 analysts in a Bloomberg survey. Not only that, earnings per share growth in 2020 will probably outpace peers in emerging markets from Russia to South Africa, the data show.