Turkish fears re-intensify, but FIs unscathed as Akbank closes

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Turkish fears re-intensify, but FIs unscathed as Akbank closes

Mariam Meskin
March 27, 2019 10:00 am
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19.05.2018, Selcuk, Turkey: A man takes money from a bank machine at Bank Akbank. Akbank TAS is a Turkish bank based in Istanbul. Photo: Jens Kalaene / dpa central image / dpa | usage worldwide | Jens Kalaene/DPA/PA Images

Akbank has closed an oversubscribed loan, welcoming eight new banks to its syndicate and kickstarting the refinancing season for Turkish banks. The deal was signed amid increasing market uncertainty in Turkey, with the lira having weakened and uncertainty surrounding local elections this weekend.

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