Fitch Downgrades Outlook for Turkish Financial Sector to 'Deteriorating'

Fitch Ratings has revised its sector outlook for Turkish banks, non-bank financial institutions, and insurers from 'Neutral' to 'Deteriorating'. This negative adjustment is attributed to a combination of factors, including the ongoing US–Iran conflict, persistent high inflation, weaker economic forecasts, and a sustained period of elevated interest rates, all contributing to worsening operating conditions.