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BBVA's CEO says main risk in Turkey is forex, cenbank chief sacking not affecting operations

Reuters
·1-min read

MADRID (Reuters) - The main risk in Turkey is forex, and BBVA is prepared to handle that, its chief executive Onur Genc said on Tuesday, adding that the bank was invested in the country for the long term and the dismissal of the central bank chief would not affect operations.

Genc added that BBVA was hedged on its Turkey operations.

The sacking of central banker Naci Agbal, appointed less than five months ago, has sparked fears of a reversal of recent rate hikes and increased market volatility.

(Reporting by Inti Landauro and Anita Kobylinska; Writing by Ingrid Melander)