BBVA in Turkey


BBVA will continue to suffer because of deterioration in Turkey

BBVA Will Continue To Suffer Because Of Deterioration In Turkey

Turkish President Erdogan has began to exercise his new “attributes”, recently provided by an ever more authoritarian political system, in relation to the monetary policy of the central bank by affirming informally that interest rates will be lowered. This weakened the Turkish Lira from 4.66/$ to 4.85/$ (although it layered recovered to 4.82/$). This had a negative impact on the share price of BBVA, which holds 49.85% in the Turkish bank Garantí.


BBVA Chairman Is Losing Sleep Over Turkey

Despite all the international support Erdogan has received since the failed coup on July 15, the situation in Turkey has become complicated because of the President’s reaction. It has fuelled a dangerous dynamic in the Euroasian country which could end up harming the Turkish economy and, therefore, the international companies operating there.


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BBVA in Turkey: how unrest could harm the Spanish bank

MADRID | By Iñigo Villegui at Capitalmadrid | As unrest rattles in Turkey, markets reportedly experienced their worst day in years on Monday, the lira moving into the red and government bonds suffering major losses. Brokers interested in BBVA are fearing this turmoil can harm the Spanish bank, which since 2010 has a 24.9% stake in the first Turkish bank, Garantí.