What matters on Thursday, November 17

Turkish banks are among the best-managed banks in the world, according to JP Morgan Turkey General Manager Mustafa Bagriacik. He told daily DUNYA that he sees great potential in the Turkish banking sector from a long-term perspective. Bagriacik also emphasized that Turkish banks efficiently manage their balance sheets, provide a strong profit increase, and protect their capitals.

Turkey’s benchmark stock index reached midweek at a new all-time high daily close of 4,668.52 points, up 0.25%. Starting the day at 4,702.03 points, Borsa Istanbul’s BIST 100 index earned 11.52 points from the previous close. The index’s lowest value during the day was 4,650.52 points, while its daily high was 4,784.01. The total market value of the BIST 100 was around TRY 3.8tr by market close, with a daily trading volume of TRY 139bn. Global markets have fluctuated with increasing geopolitical risks in addition to strengthening expectations of inflation in the U.S. while Borsa Istanbul continues to positively differentiate, according to analysts. They said 4,600-4,650 points will be the support level and 4,800 points will be the resistance level for the BIST 100 index, in technical terms

On the foreign policy side, President Recep Tayyip Erdogan voiced the need to respect Russia’s statement on reports of a suspected missile attack on Poland and said pointing fingers at Russia would further escalate tensions at a press conference on the sidelines of the G-20 Summit in Bali. President Erdogan’s remarks came after reports of a suspected missile attack on Poland that killed two people. “While we are endeavoring to bring Russia and Ukraine around the same table, there is no need to find any third partner to this war,” Erdogan added. On the Istanbul grain deal, Erdogan that said as soon as he returns from Bali, he will speak with his Russian counterpart about the extension of the grain deal by at least one year. “We will also discuss the transport of fertilizer and ammonia,” he added. Regarding Washington’s potential sale of F-16 fighter jets to Ankara, Erdogan said that U.S. President Joe Biden said there had been favorable developments. He also referenced his previous meetings in New York and said: “I heard from the Republicans that they viewed this issue positively.”


The short-term external debt stock rose by 14.7% to USD 139.5bn in September, compared to the end of 2021, according to the Central Bank.

The Central Bank will release weekly monetary and banking statistics (2.30 p.m.).


>> The Residential Property Price Index jumped 189.2% in September, compared to the same month last year, according to the Central Bank. The index rose by 4.9% on a monthly basis.

>> The private sector’s outstanding loans received abroad dropped by USD 7.8bn to USD 160.9bn in September, compared to the end of 2021, according to the Central Bank.

>> The net profit of Alarko Holding totaled TRY 4.2bn in the third quarter. The holding company’s net profit increased 15-fold to TRY 7.5bn in January-September, compared to the same period of the previous year.

>> The asset size of Ziraat Katilim rose by 85% to TRY 182.2bn in the third quarter, compared to the end of 2021, according to Ziraat Katilim General Manager Metin Ozdemir.


>> To regrade

Our Tour D’Horizon Columnist Fatih Ozatay addresses the forecasts of financial institutions, including the Central Bank.

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