Top boss criticizes local banks

Top boss criticizes local banks

SİVAS - Anatolia News Agency
Top boss criticizes local banks

Rifat Hisarcıklıoğlu DHA photo

Local banks are generous to the state but ungrateful to private companies, according to the Union of Chamber and Commodity Exchanges (TOBB) President Rifat Hisarcıklıoğlu, speaking at a meeting late on Sept. 4.

There is a 6.5 percent difference in favor of the state in terms of the interest rates banks employ, Hisarcıklıoğlu said, adding that these rates were the same last year.

The amount of loans given by banks to small and medium size enterprises has fallen this year, he said, adding that these enterprises had already experienced additional difficulties, referring to a recent decree that lifted prison penalties for bouncing checks, making the tool less trustable.

Last year was very successful for the economy, but this is not the case this year, with annual economic growth having slowed from 8.5 percent to 3.2 percent, Hisarcıkoğlu said.

Demand for same conditions

“There is only one thing we demand from the state and the Parliament. We want the same conditions as our competitors. Provide this for us and we will make Turkey one of the 10 largest economies in the world,” he said.

Turkish chambers and bourses have started to develop particular projects, including joint projects with their counterparts in Europe, Hisarcıkoğlu added.

Touching on the European Union Business Development Centers (ABİGEM) in Turkey, he also said that advisory services were looked down on but that small and medium size enterprises could greatly benefit from such services.