Despite political and social upheaval in Turkey, most view it as strategically vital, with huge long-term growth potential. Since the financial crisis, Western banks have been busily selling off non-core businesses to focus on their core markets. This phenomenon has been evident around the world, especially in emerging markets. "International banks are under pressure to optimise returns as capital remains a scarce commodity," said Guy Stevens, managing director in the EMEA financial institutions group at UBS. "In many international markets where institutions do not possess critical mass or have a niche business model, they are struggling to do this."
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