Bloomberg News

Renaissance Bets on Turkish Banks ‘Good’ Fourth Quarter Earnings

January 26, 2012

Jan. 26 (Bloomberg) -- Renaissance Asset Managers is betting on a rally in Turkish banking stocks this year, expecting “very good” results in the fourth quarter of 2011.

Slowing loan growth will enable the Turkish central bank to loosen its monetary policy and ease pressure on the banks, Aziz Unan, who manages the Ottoman Fund that focuses on stocks in Turkey, the wider Middle East, eastern Europe and north Africa, said in a phone interview today.

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


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