Financial Services Confidence Index increased by 6.4 points compared to the previous month and rose to 148.3 in April.
Financial Services Statistics and Financial Services Confidence Index for April was announced by the Central Bank of the Republic of Turkiye (CBRT).
According to the survey results obtained by weighting and aggregating the answers of 155 institutions operating in the financial sector, the index increased by 6.4 points in April compared to the previous month and became 148.3.
When the diffusion indices of the survey questions that make up the index are analyzed, the business situation in the last 3 months and the demand for services and the expectation of the demand for services in the next 3 months have affected the FHGE in an upward direction.
According to the evaluations on the business situation and the demand for services, the evaluations that there has been an improvement in the business situation in the last 3 months have strengthened compared to the previous month. Evaluations that there has been an increase in the demand for services in the last 3 months and the expectations that there will be an increase in the demand for services in the next 3 months continued to strengthen.
According to the evaluations regarding employment, the trend in favor of those who reported an increase in employment in the last 3 months and those who expected an increase in employment in the next 3 months weakened.
According to the evaluations on profitability, the trend in favor of those who reported an increase in profitability in the last 3 months weakened compared to the previous period, while those who expected a decrease in profitability in the next 3 months turned in favor of those who expected an increase.
Regarding the competitiveness in domestic and foreign markets, the evaluations that there has been an improvement in the last 3 months and the expectations that there will be an improvement in the next 3 months have weakened compared to the previous period.
In April, when the confidence indices in the “Finance and Insurance Activities” sector according to the NACE Rev.2 sector classification are evaluated by sub-sectors, “64-Financial Service Activities (excluding insurance and pension funds)” increased by 7.4 points, in the “65-Insurance, Reinsurance and Pension Funds (excluding compulsory social security services)” and “66-Financial Services and Ancillary Activities for Insurance Activities” sectors, there was a decrease of 11.30 and 24.5 points, respectively, compared to the previous month.
Source: Trthaber / Prepared by Irem Yildiz