Erkan Kork: It would not be surprising to see a significant capital inflow from European countries in 2024

BankPozitif Chairman of the Board Erkan Kork made evaluations regarding the 2023 outcomes and 2024 expectations. Stating that 2023 was a dynamic year for Turkey, Kork said that the Turkish banking sector continued to support the real sector and finance production and exports despite negative developments both domestically and globally.

"THE TURKISH BANKING SECTOR HAS A ROBUST STRUCTURE"
Emphasizing that a new era has begun following the earthquake disaster at the beginning of the year and the long-running election process, Erkan Kork said, "As the 'Century of Turkey' was launched after the elections, the Turkish banking sector has become an important monument of stability for the Turkish economy with its robust and reliable structure. We are talking about a sector that is in very good condition in terms of asset quality, capital structure, and liquidity adequacy. I believe we will clearly see the effect of the steps taken in 2024. I think that in the new period, confidence in the economy will increase further with the decline in the rate of increase in inflation, the rise in demand for TL assets, and the significant improvement in leading indicators, and that the capital inflow that has recently begun may accelerate," he stated.

"THERE MAY BE A SIGNIFICANT CAPITAL INFLOW FROM EUROPE"
Pointing out that there may be capital inflows from Europe to Turkey, Kork said, "With the visits made by our President Recep Tayyip Erdoğan to the UAE, Saudi Arabia, and Qatar, Gulf capital has turned its route toward Turkey. It would not be surprising to see a significant capital inflow from European countries in 2024. European firms will continue their investments in Turkey through mergers and acquisitions," he expressed.

"WE WILL CONTINUE TO SUPPORT THE REAL SECTOR IN 2024"
Noting that according to BRSA data, the Turkish banking sector has reached an asset size of 21.8 trillion TL and the sector's total loans have reached 11 trillion TL, Kork stated that as a bank, they have positively differentiated themselves from both the sector and private banks, adding, "Our bank, which has achieved the success of providing over 7.4 billion dollars in loans to the Turkish economy since the day it was founded, reached an asset size of 1 billion 257 million TL in the third quarter of the year. In 2024, we will continue to support the real sector and contribute to the growth of the Turkish economy as a bank," he said.

"WE WILL CONTINUE TO DEVELOP OUR SERVICES WITH INNOVATIVE TECHNOLOGIES"
Pointing out that the vast majority of banking transactions are now carried out through digital channels, Kork said, "Banks that once entered a race to open branches are now calculating how they can reduce them. As for us, since the day we were founded, we have chosen to be a new-generation bank that keeps traditional channels at a minimum level, does not tire our customers by making them go to a bank branch amidst the hustle and bustle of life, and does not use classic channels like branches. In 2024, we will continue to develop our services with innovative technologies. We will take the customer experience to the highest point with smart and special content," he stated.

News Source: 12punto