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Bank interest rates in Turkey could soften

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Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
24/09/2010 11:08

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If this article in the link is to believed the last paragraph spells out what the consequences could be to savers with funds in Turkish Bank accounts. As the bank will lose revenue due to the Turkish government’s decision not to pay interest on bank reserves, (which was 5%) it would be safe to imagine this loss in part will be passed on to the customers!



The “good news” is the banks are not allowed to drop by more than 1.5% across their sector-wide interest earnings.



http://www.hurriyetdailynews.com/n.php?n=bankers-take-a-hit-from-central-bank-2010-09-23



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