Post on 02-Apr-2018
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Istanbul an emerging IFC in the making?
November 28, 2012
Hakan Binbasgil
CEO, Akbank
Financial Times 2012 Global Summit on International Financial Centres, 27&28 November 2012, The Four Seasons Park Lane, London.
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GDP/Capita Tripled in 10 years...
2
3.492
10.673
2002 2012
US$
3X
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Strong Fiscal Discipline...
3
11,5
2002
Budget Deficit / GDP
2,3
E(2012)
Public Sector Debt % of GDP
%
Source: Ministry of Finance
74,0
2002
36,5
E(2012)%
Source: Undersecretariat of Treasury, Ministry of Development
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Improving Current Account Deficit...
4
-10,0
-6,7
2011 E(2012)
%GDP
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Falling Unemployment Rate...
5
10,8
8,8
2004 8/2012
%
14,0
2009Source: TURKSTAT
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Favorable Demographics...(50% under the age of 30)
6
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High mobility, internet and social media usage
7
65% households with internet.
(1)
32 mio Facebook users.
9 mio Twitter accounts.
89% ownership in mobile phones.
10.6 mio mobile internet users.
66 mio mobile subscribers.
119 mio airline passengers.(1)
7 mio new vehicles in 7 years.(1)
Urbanization rate: 77%.(1)
(1) as of 2011, other statistics are November 2012 figures
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Sound Banking Sector...
8
CAR
NPL
Low leverage
High liquidity
No toxic assets
No derivative products(1)
(1) Excluding derivatives for hedging
16 %
2,9 %
8 X
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Strong Growth in Banking...
9
213
2002
Assets
TLbillion
Including participation banks
1.308
3Q 2012
Loans Deposits
49
2002
TLbillion 756
3Q 2012
138
2002
TLbillion 738
2012
CAGR 20% CAGR 32% CAGR 19%
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Further Growth Potential in Banking...
10
356
Assets
Financial Intermediation Indicators
E
uroArea***:2011,Turkey:2011%o
fGDP
94
Deposits Loans
116
51
131
52
EuroArea***
Turkey *19 mio people unbanked
Household debt/GDP: 17%**
Mortgage/GDP: 6%
Mutual funds/GDP: 2.3%
Pension funds/GDP: 1.1%
* Including participation banks** Household dept includes only performing consumer lending and credit card receivables.***Euro Area: Non-MFIs sector,
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State of the Art Technology in Banking...(Examples from Akbank)
11
Mobile Loans Web Loans SMS Loans(2005) (2006) (2007)
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Why we think Istanbul will emerge as an IFC ?
12
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Istanbul is a Major Transportation Hub...
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20% of Turkeys population
(greater than 19 EU countries).
22% of Turkeys GDP.
45% ofTurkeys exports.
52% ofTurkeys imports.
2.8 million students.
44 Universities.
200 Hospitals.
Turkish Airlines THY,3rd largest airline in EU,flies to 189 destinations (40local).
Istanbul has easy access to multiple markets worth
USD 25 trillion of GDP and 1.5 billion customers in
Europe, Eurasia, the Middle East and North Africa.
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Thank you