Banks sound despite S&P negative outlook. No risks of deposits currency conversion from lira to US dollars or outflows of capital

The banking system remains strong, despite a negative outlook on some banks expressed by standard and Poor's yesterday, according to industry experts.

"Recent years have proven that there is an obvious disconnection between the rating of banks by credit rating agencies and the depositors' base," said Marwan Barakat, Head of Research at Bank Audi. "Any negative change that had affected banks did not affect deposits negatively," he said.

Standard & Poor's Ratings Services r...

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