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Decline in Trust in Financial Services

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The Financial Services Confidence Index decreased by 0.7 points in February compared to the previous month, reaching a level of 170.3. The Central Bank of the Republic of Turkey (CBRT) released the Financial Services Statistics and Financial Services Confidence Index (FHGE) for February. According to the survey results obtained by weighting and aggregating the responses of 148 institutions operating in the financial sector, FHGE decreased by 0.7 points in March compared to the previous month, reaching 170.3. When the spread indexes related to the survey questions that make up the index were examined, it was observed that the business situation in the last 3 months and the demand for services influenced FHGE in an increasing direction, while the expectation of demand for services in the next 3 months affected FHGE in a decreasing direction. Evaluations regarding the business situation and demand for services showed that assessments indicating an improvement in the business situation in the last 3 months strengthened compared to the previous month. Assessments indicating an increase in demand for services in the last 3 months slightly strengthened, while expectations of an increase in demand for services in the next 3 months weakened. In terms of employment assessments, the trend in favor of those reporting an increase in employment in the last 3 months strengthened, while the trend in favor of those expecting an increase in employment in the next 3 months weakened. In March 2025, trust indexes in the “Financial and Insurance Activities” sector, according to the NACE Rev.2 sector classification, were evaluated by sub-sectors. Compared to the previous month, a decrease of 0.8 and 20.1 points were observed in the sub-sectors of “64-Financial Service Activities (excluding insurance and pension funds)” and “66-Support Activities for Financial Services and Insurance Activities” respectively, while an increase of 1.5 points was seen in the sector “65-Insurance, Reinsurance and Pension Funds (excluding mandatory social security services)”.

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