Citi considering buying Turkish bank bonds

Investment bank Citi said it could look to buy Turkish bank bonds after the recent market sell-off in the wake of central bank governor Naci Agbal’s exit.

Citi, which exited its Turkish bank holdings in late January, said while there were concerns about the risk of higher bad loans hitting the banking system, capital adequacy ratio levels were high and it expected the sector to remain solvent in all but the worst-case scenarios of a full-blown current account crisis. [Reuters]