2023 presented a challenging landscape for banking institutions as they grappled with operational and macroeconomic hurdles. However, banks skillfully navigated these obstacles. Aided by rising interest rates, banks managed to boost their top-line growth.
Furthermore, the anticipated continuation of this high-interest environment poses a profitable future, with the prospect of increasing net interest income and margins. Given this backdrop, foreign banks Akbank T.A.S. (AKBTY), KB Financial Group Inc. (KB), and Erste Group Bank AG (EBKDY) could be solid buys for 2024.
