Wednesday 19, September 2018 by Kudakwashe

Burgan Bank Turkey’s hedging strategy protects it against currency volatility

 

Burgan Bank Turkey is comfortably managing its liquidity levels despite the increased demand and cost for liquidity by the broader market.

Burgan Bank Group has announced that its Turkish subsidiary, Burgan Bank Turkey remains vigilant with regards to the volatility in Turkey and has not witnessed any material impact on its profitability, reported local daily, Kuwait Times.

The Group said that it continues to closely monitor the effects of the recent volatility of the Turkish lira and the domestic interest rates, its impact on borrowers as well as on the economy in general.

Majed Essa Al-Ajeel, Chairman of the Board of Burgan Bank Group, said that Burgan Bank Turkey is adjusting well to its current operating environment.

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