Turkish Banking Sector Sees Significant Growth with Deposits Reaching ₺16.49 Trillion

Banking Sector Deposits Rise to ₺16.49 Trillion

The total deposits of the banking sector reached ₺16 trillion 486.5 billion, with the loan volume at ₺12 trillion 743.9 billion.

In the week ending May 17, total deposits in the banking sector increased by approximately ₺374.7 billion, reaching ₺16 trillion 486.5 billion, according to the Central Bank of the Republic of Turkiye (CBRT).

The CBRT’s weekly money and bank statistics show that total deposits, including interbank, rose by ₺374 billion 683 million 259 thousand, reaching ₺16 trillion 486 billion 498 million 877 thousand.

During the same period, TL deposits in banks grew by 4.56% to ₺9 trillion 561 billion 907 million 944 thousand, while foreign currency (FX) deposits fell by 0.52% to ₺6 trillion 202 billion 151 million 375 thousand.

Total FX deposits in banks amounted to $203 billion 583 million last week, with $172 billion 41 million held in domestic accounts. Adjusted for parity effect, total FX deposits of domestic residents decreased by $1 billion 216 million as of May 17.

Increase in Installment Commercial Loans

Consumer loans in deposit banks decreased by 0.31% last week, totaling ₺1 trillion 561 billion 93 million 745 thousand. In contrast, commercial installment loans increased by 0.70% to ₺1 trillion 485 billion 609 million 975 thousand, while credit card balances dropped by 0.91% to ₺1 trillion 839 billion 543 million 539 thousand.

Of the consumer loans in deposit banks, ₺402 billion 320 million 255 thousand were housing loans, ₺68 billion 326 million 974 thousand were vehicle loans, and ₺1 trillion 90 billion 446 million 516 thousand were other loans.

The total credit volume of the banking sector, including the CBRT, increased by ₺35 billion 30 million 953 thousand in the week ending May 17, reaching ₺12 trillion 743 billion 894 million 947 thousand. Compared to the same period last year, the total loan volume rose by 45.71%.

Source: AA / Prepared by Irem Yildiz

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