Turkey - The Banker

Ali Fuat Erbil, assistant general manager, Garanti Bank

Leading Turkish bank Garanti is the first to offer, send and receive functions of the Western Union Money Transfersm service through its own website, as Ali Fuat Erbil, assistant general manager of Garanti Bank, explains.

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Turkey's Islamic participation banks are becoming more ambitious, but are still looking for a model that competes more effectively with the conventional market. Writer James Gavin

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Turkey's finance minister and deputy prime minister explains how the Turkish banking system survived the financial crisis relatively unscathed and outlines the country's economic policy for 2010 and beyond.

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Turkey's government, led by prime minister Tayyip Erdogan, is exploring alternatives to an IMF loan to finance its budget deficit

Facing an exploding budget deficit and enormous domestic debts, the Turkish government continues to have a ravenous appetite for borrowing, but still wants to avoid funds from the IMF. Writer Metin Demirsar

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Despite the downturn, share prices on the Istanbul Stock Exchange are soaring on the strength of the country's banks, as global liquidity and optimism return. Writer Metin Demirsar

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Turkish banks, cushioned by regulations implemented in the wake of the country's financial crisis of 2001, have been largely sheltered from the recent global crisis and the majority of those listed in The Banker's 2009 rankings posted double-digit profit on capital. Writer Geraldine Lambe

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The credit crunch may delay Turkey's extensive plans to upgrade power supplies and road networks, but it has certainly not derailed them. Writer Philip Alexander

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Less than 10 years after one of the worst financial crises in Turkey's history - a crisis during which more than 20 banks were acquired by the state - Turkish banks appear to be weathering the international financial storm with remarkable resilience. Despite the global banking crisis, annual inflation of more than 10% and a 30% drop in the value of the Turkish lira against the US dollar, not one of Turkey's 11 largest banks made a loss in this year's Top 1000 ranking.

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Leading in turbulent times: Hakan Eminsoy, CEO of ING Bank Turkey

Despite an adverse response from the bank's military depositors and a sharp recession in Turkey, ING Bank's CEO is planning for growth once the economy turns around. Writer Metin Demirsar

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The full force of the global recession has hit Turkey with falls in exports leading to job cuts. Bankers say an IMF deal would help but the government is reluctant. Writer Metin Demirsar

Recep Tayyip Erdogan, prime minister of Turkey

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The global recession is nothing new to Turkey's bankers, who have learnt the lessons of the country's economic crisis of 2001 and are showing great resilience as their global peers falter. Writer Metin Demirsar

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Tanju Yüksel, Türkiye Vakiflar Bankasi TAO (Vakifbank)

Turkey is defying the onset of recession across Europe by reporting hefty profits and robust growth – although foreign investment is getting harder to come by. Writer Metin Demirsar.

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Mehmet Simsek, Turkey's economy minister

Despite an optimistic outlook on the banking sector in Turkey, political dilemmas and the global economic environment weigh heavy on the country. Stephen Timewell reports from Istanbul.

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Turkey’s banks prepare to navigate the storm of a pending global economic downturn, buttressed by a surge in foreign investment and a strong currency. Yet political uncertainties cloud the future, writes Metin Demirsar in Istanbul.

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Kemal Unakitan, Turkey’s finance minister and Karina Robinson

Kemal Unakitan preserved Turkey’s public finances in 2007, despite turbulence in domestic politics and international markets. He wants to maintain momentum in 2008, he tells Philip Alexander.

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