Sunday , August 20 2017

Banking

Morgan Stanley’s upbeat Turkey bank view defies 10-year trend

epa04637622 (FILE) A file photograph dated 25 April 2007 shows the Morgan Stanley corporate sign in front of the company's Japan headquarters in downtown Tokyo, Japan. The financial company Morgan Stanley on 25 February 2015 agreed to pay 2.6 US billion dollar to settle an investigation into its role in the 2008 financial crisis, becoming the latest firm to reach such a deal with the government. Over the past two years, Bank of America has agreed to a record settlement of 16.65 billion US dollar; Citigroup has made a seven-billion US dollar settlement; and JPMorgan Chase agreed to pay 13 billion US dollar.  EPA/EVERETT KENNEDY BROWN

Bloomberg History suggests otherwise, but Morgan Stanley says Turkey’s peer-beating banks have room to rally further. Analysts including Samuel Goodacre increased share price targets for four of Turkey’s biggest lenders by an average 15 percent, saying a government credit guarantee facility will continue to underpin their earnings. Istanbul’s banks index ...

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