June 11, 2019 / 2:03 PM / 2 months ago

High dollarisation of deposits in Turkish banks could pressure forex liqudity - Fitch

ISTANBUL, June 11 (Reuters) - The high level of deposit dollarisation in Turkish banks could put pressure on the lenders’ foreign exchange liquidity in the event of a forex deposit outflow, credit rating agency Fitch said on Tuesday.

If the Turkish central bank’s reserves are used for intervention on exchange rates, that could present a concern, the credit rating agency told a conference call about the Turkish economy. It also added that it predicted a worsening of non-performing loans (NPL) ratio in the Turkish banking sector, which stood at 4.1% at the end of April.

Reporting by Ali Kucukgocmen; Writing by Humeyra Pamuk; Editing by Jonathan Spicer

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