Kuwait Finance House (KFH) released a statement today stating that its Turkey financing portfolio is stable. KFH’s Turkish business operates through more than 400 branches and has nearly 6,000 employees
KFH is Kuwait’s second biggest lender by assets and said that their Turkish financial portfolios diversified between Turkey’s lira and major foreign currencies, according to a report in Reuters.
KFH said it was closely monitoring events in Turkey and that it continues to achieve strong, continuous growth rates at all levels of the portfolio.
The Turkish lira has gone into freefall over concerns about the direction of monetary policy under President Tayyip Erdogan and worsening relations with the United States.