Turkey eyes more business with Arab countries in banking, says head of a Turkish union of banks

ISTANBUL (A.A) - February 29, 2012 - Head of a Turkish union of banks has expressed hope that relations between Turkey and Arab countries in banking and financial sector would grow through investments and loan deals. "I am confident that in a near future our relations especially in the banking sector would reach significant sizes through mutual investments and loans," Huseyin Aydin, chairman of the Banks Association of Turkey, told an Arab-Turkish banking and financial forum in Istanbul. Aydin said that Turkey-based banks ran operations in Arab countries through 14 branches, one representation office and a partnership, and that seven Arab banks were operating in Turkey. "And the overall assets of these banks total $24 billion and they claim a 3.5 percent share in the sector," Aydin said.      Aydin said trade volume between Turkey and Arab countries soared to $34 billion from $5 billion over the past decade, adding that the figure equaled nearly 10 percent of Turkey's total foreign trade volume.    Aydin said total assets of banks in Turkey reached $645 billion in 2011, with a total equity capital of $77 billion and a capital adequacy ratio of 16.5 percent.