Turkish bank liquidity strong but cracks start to show

Turkish banks have enough foreign currency liquidity to withstand a prolonged capital market shut out, according to ING. While this remains unlikely, small signs of deterioration have begun to show in terms for the biggest source of FX funding in the country’s banking system - syndicated loans.

  • By Mike Turner
  • 09 Jul 2018

Turkish banks have an aggregate $90bn in liquid assets and $55bn to $60bn of debt maturities in the coming year, according to Nicholas Smallwood, emerging markets credit strategist at the Dutch bank. 

“Their funding imbalance […] lies in the lira, where the loan/deposit ratio averages 146%,” said Smallwood. “They ...

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Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 268,992.12 732 11.03%
2 Bank of America Merrill Lynch 239,131.39 774 9.81%
3 Citi 146,424.87 434 6.01%
4 Wells Fargo Securities 129,846.45 508 5.33%
5 Mitsubishi UFJ Financial Group 104,359.11 598 4.28%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Standard Chartered Bank 3,844.39 11 8.66%
2 Citi 3,454.07 9 7.78%
3 JPMorgan 3,130.58 7 7.05%
4 Mizuho 2,575.67 6 5.80%
5 HSBC 2,441.65 6 5.50%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 11,614.39 49 7.38%
2 Credit Agricole CIB 10,789.94 46 6.85%
3 Deutsche Bank 8,986.23 33 5.71%
4 UniCredit 8,448.15 49 5.37%
5 HSBC 8,442.65 35 5.36%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 29,830.94 52 6.97%
2 BNP Paribas 28,182.03 110 6.58%
3 UniCredit 21,916.39 101 5.12%
4 Credit Agricole CIB 21,885.13 102 5.11%
5 SG Corporate & Investment Banking 21,814.64 83 5.10%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Apr 2016
1 HSBC 35.45 69 6.71%
2 BNP Paribas 31.67 78 5.99%
3 ING 31.21 74 5.90%
4 Citi 22.60 36 4.27%
5 Deutsche Bank 21.89 32 4.14%