You have been working in İş Bank for many years , and you became a CEO , as a METU Economics graduate . What are your suggestions for the current students that would like to follow the same career path ?
METU students already kno w that they need to work hard , be skeptical and disciplined person , be a creative worker , be a researcher , believe in team spirit , create an atmosphere of volunteer work , and be a respectable person in human affairs .
In your opinion , what are the greatest obstacles in the banking sector ?
The most critical problem is not being able to improve the extra working capacity of equity capital due to the policies of authorities and irrational competition has led to an enormous decrease of profitability . In fact , this is not about the discussion of profitability but it is related to sustainability of the intermediacy function of the banking system . Both production , commerce and funding of infrastructural invest ment and also meeting necessities of households require strong foundations of equity capital . To be remembered , under conditions of global economic crisis , this factor act as a separating function of Turkish economy in a positive way . Substantially , this aspect is also a critical problem for macroeconomic goals such as economic growth and employment creation .
What are your expectations for the Turkish economy in 2016 ?
Unfortunately , like as what happened in 2015 , also in 2016 uncertainties on both internal and external conjectures are getting bigger . Besides instabilities of global macroecono mic conditions , domestic economic and political developments and geopolitical problems that have severe influences will be d eterminant on shaping the future . Actually , the factors which are sustainable level of current account deficit thanks to the rapid decrease in energy prices and the current budget discipline besides lo w debt to GDP ratio could provide possibility of having times that full of opportunities and it is still possible . Ho wever , to channelize this way , it is necessary to implement reformist policies to get rid of middle income trap and over 1200 action plans stated by the government . Also , EU relations play important roles on increasing both our standards and improving our international relations and opening new chapters in candidacy of Turkey .
Compared to the previous crises experienced in Turkey , effects of global economic crisis started in 2008 on the banking sector were less negative . What was the major reason of this reality ?
Actually , the banking system was less affected by the global crisis , even more having a solid banking system prevented the Turkish economy from possibility of deep adverse effects of global crisis . Having powerful structure of equity capital , high capital adequacy ratio and high quality of assets were the main elements of the solid banking system .
What were the changes and improvements that you want to do after you were assigned as CEO ?
Iş Bank is an institution which has experience of many years , stability and continuity . With this aspect , it would not be wrong to state that it takes near the top within the organizational structure of the country . Therefore , our policies do not contain and require changes . Beside of this general approach in both commercial and private banking , our aims are to be a bank which is closest for its customers with active policies and achieve extensive enhancement by increasing the share and activities in all areas . To deepen the idea of being Turkish Bank , we sustain field supremacy and dynamism which contain every piece of land from province to distinct . For insta nce , in 2011 , we increased our credits by 43 % in one year as being the biggest creditor of Turkey . Another distinguish factor was introducing more measurable , more responsible , and more accountable work order to every place of our organizations . We can distinguish those who can fit or cannot fit to this kind of way of work with serious innovations in human resource . Although it has painful consequences , I think we manage this process quite well .
As I followed fro m the press , you graduate with honor degree . I think that our students wonder the answer of this question . In your opinion , is the school success sign of the business success ?
Yes , I don ’ t want to give wrong information but four or five semester , I entered for honor list . These were always first semester ; it is understood that in spring semester we cannot sustain the same success . In my opinion , there is a correlation between school success and the business success , at least in terms of fulfillment of the requirements of being succee d . However , we also encounter some examples that cannot support this correlation . In my observation . These features should be in balance .
10 Department of Economics Newsletter