Turkish banks target price cuts, lenders fear this is only the start

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Turkish banks target price cuts, lenders fear this is only the start

Emerging market lenders are bracing themselves for a pricing plunge. Two of Turkey’s top tier banks confirmed on Thursday that they are planning to use their spring refinancing loans to undercut the 125bp margin and fees benchmark paid by Garanti in November and demand as low as 100bp all-in.

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