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Higher margins loom for Turkish banks after Akbank accepts downgrade condition

Turkey Izmit Bay px230 x 168 for gc

Akbank will widen the margin on its loan by 25bp if the bank is downgraded. The move is a condition the bank’s relationship lenders required after the attempted coup in Turkey on July 15. While Burgan Bank this week avoided a similar clause, other Turkish banks will likely have to accept them.

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