Şimşek: Simplification and tightening steps will continue

Treasury and Finance Minister Mehmet Şimşek stood before the cameras at the 66th General Assembly of the Banks Association of Turkey. Şimşek said in his speech that the period when private banks focused on consumer loans should be over and that they did not have any legitimate reasons for this. Treasury and Finance Minister Mehmet Şimşek called on banks to support the real sector and act in accordance with the government's program for disinflation at the 66th General Assembly of the Banks Association of Turkey. The opening speech at the meeting was made by the President of the Banks Association of Turkey (TBB) Alpaslan Çakar. Çakar emphasized that the capital structure of the sector was strong and that credit risks were at a manageable level. Çakar stated that in recent years the resources of the banking sector have been directed to production, investment and exports. Çakar stated that the share of currency-protected deposits in total deposits was 25 percent and said that the equity profitability of the sector fell behind inflation.