Turkish Banking Sector Sees Impressive Rise in Deposits and Loan Volumes

Deposits of the banking sector increased by ₺147.9 billion

Total deposits of the banking sector increased by approximately ₺147.9 billion in the week ending May 24 compared to the previous week, reaching ₺16 trillion 634.4 billion.

The Central Bank of the Republic of Turkiye (CBRT) announced weekly money and bank statistics.

Accordingly, the total deposits of the banking sector (including interbank) increased by ₺147 billion 854 million 672 thousand in the week ending May 24, reaching ₺16 trillion 634 billion 353 million 549 thousand.

In the same period, TL deposits in banks increased by 1.99% to ₺9 trillion 751 billion 875 million 534 thousand, and foreign currency (FX) deposits decreased by 0.91% to ₺6 trillion 145 billion 867 million 831 thousand.

While total FX deposits in banks amounted to $201 billion 395 million last week, $170 billion 602 million of this amount was collected in the accounts of domestic residents.

Considering the data adjusted for parity effect, there was a decrease of $708 million in the total FX deposits of domestic residents as of May 24.

Installment commercial loan amount increased by 1.14%

Consumer loans in deposit banks increased by 1.14% last week and reached ₺1 trillion 578 billion 944 million 858 thousand.

In the same period, commercial installment loans increased by 0.79% to ₺1 trillion 497 billion 347 million 66 thousand, while credit card balances increased by 1.57% to ₺1 trillion 868 billion 366 million 743 thousand.

Of the consumer loans in deposit banks, ₺402 billion 882 million 998 thousand consisted of housing, ₺68 billion 901 million 873 thousand from vehicle loans and ₺1 trillion 107 billion 159 million 987 thousand from other loans.

The total credit volume of the banking sector, including the CBRT, increased by ₺190 billion 80 million 79 thousand in the week ending May 24, reaching ₺12 trillion 933 billion 975 million 26 thousand.

Total loan volume increased by 46.90% compared to the same period last year.

Source: Trthaber / Prepared by Irem Yildiz

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