Istanbul Chamber of Commerce President Calls for Improvement in Loan Interest Rates
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Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç stated that the Turkish economy grew by 2.3 percent in the second quarter, and found it encouraging that industry returned to positive territory with 2.4 percent growth and that the contraction in exports eased. Emphasizing the need for investments to regain momentum, Avdagiç said, “We expect the announcements that banks will lower their loan interest rates this week, in parallel with th…
Şekib Avdagiç, President of the Istanbul Chamber of Commerce, called on banks following the Central Bank of Turkey's (TCMB) 300 basis point interest rate cut. Avdagiç stated that they expect loan interest rates to be lowered this week and for the reduction to be quickly reflected in commercial loans and widely across the entire banking sector.
In his assessment to an AA reporter, İTO President Şekib Avdagiç stated that according to the released data, the Turkish economy grew by 2.3 percent in the second quarter of the year, adding that İTO...
Istanbul Chamber of Commerce (ITO) President Avdagiç stated that they expect the Central Bank of Turkey's 300 basis point interest rate cut to be quickly reflected in loan interest rates. Evaluating the growth data, Avdagiç emphasized the importance of access to financing for the recovery in industry to be sustainable.
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