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FinancialNews
25-03-20
Turkey: banks announce financial support measures for individuals, institutions
(MENAFN) Financial support measures were declared by Turkish banks for people and firms conquer the limitations of the outbreak of coronavirus with minimum damage.
On Monday, 3 big state banks, namely Ziraat Bank, Halkbank, and Vakifbank, announced many procedures to restrain the sharp deterioration in cash flows in the market during the crisis period.
For Mustafa Sonmez, an economist, the steps of the trio were the natural outcome of the government's USD15.4 billion stimulus package, which was declared last week by Turkish President Recep Tayyip Erdogan to facilitate the economic impacts of the COVID-19.
The banks allowed their customers to delay their interest and capital payments and offer an additional grace period for many sectors, which were mainly influenced by COVID-19.
MENAFN2503202000450000ID1099909259
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