Total deposits in the banking sector increased by ₺104.5 billion last week, while the credit volume grew to ₺14.27 trillion, according to CBRT data.
The banking sector in Turkiye witnessed a significant rise in total deposits last week, with deposits reaching ₺18.19 trillion, while the credit volume climbed to ₺14.27 trillion, based on the Central Bank of the Republic of Turkiye’s (CBRT) latest data.
Key Figures:
- Total Deposits: ₺18.19 trillion (as of September 20)
- Credit Volume: ₺14.27 trillion
- Increase in Deposits: ₺104.5 billion compared to the previous week
Growth in Lira and Foreign Currency Deposits
The data showed that the total deposits in the sector grew by ₺104 billion 457 million in the week ending on September 20, 2024. Among the key factors driving this increase were:
- Turkish Lira (TL) deposits rose by 0.21% to reach ₺10.83 trillion lira.
- Foreign Currency (FX) deposits increased by 1.26%, bringing the total to ₺6.59 trillion.
Foreign currency deposits reached 204 billion 44 million dollars last week, with $172 billion 256 million held in domestic accounts. When adjusted for parity effects, the data reveals a net increase of $1.2 billion as of September 20.
Consumer and Commercial Loans
Consumer and commercial loans displayed mixed trends last week:
- Consumer loans fell by 0.49% to ₺1.71 trillion.
- Installment commercial loans surged by 2.23%, reaching ₺1.73 trillion.
- Credit card balances dropped by 1.80% to ₺2.06 trillion.
Breakdown of Consumer Loans:
- Housing loans: ₺416.6 billion
- Vehicle loans: ₺60.8 billion
- Other loans: ₺1.24 trillion
Total Credit Volume Expansion
The total credit volume in the banking sector, including CBRT’s contribution, increased by ₺78.1 billion during the same period. This brought the sector’s total credit volume to ₺14.27 trillion.
Compared to the same period last year, this represents an impressive 40.50% year-on-year growth in total credit volume.
Highlights of the Week:
- Banking Sector Deposits: Continued growth driven by both TL and FX deposits.
- Consumer Loans: A slight dip, but offset by a rise in installment commercial loans.
- Credit Volume: A steady increase, reflecting broader economic activity.
Source: AA / Prepared by Irem Yildiz