Turkish Banking Sector’s Deposits Increase

The total deposits of the banking sector increased by 26.7 billion lira to reach 15 trillion 513.8 billion lira in the week ending on February 23, compared to the previous week.

The Central Bank of the Republic of Turkey (CBRT) released its weekly monetary and banking statistics.

According to the data, the total deposits of the banking sector (including interbank deposits) rose by 26 billion 705 million 864 thousand lira to reach 15 trillion 513 billion 769 million 560 thousand lira in the week ending on February 23.

During the same period, Turkish lira-denominated deposits in banks decreased by 0.59% to 8 trillion 794 billion 406 million 859 thousand lira, while foreign currency (FC) deposits increased by 1.63% to 6 trillion 116 billion 321 million 393 thousand lira.

The total FC deposits in banks amounted to 208 billion 116 million dollars last week, of which 176 billion 352 million dollars were held in the accounts of domestic residents.

Considering parity-adjusted data, a 1 billion 141 million dollar increase was observed in the total FC deposits of domestic residents as of February 23.

Installment commercial loan amount increased

Consumer loans in deposit banks increased by 1.60% to 1 trillion 474 billion 488 million 439 thousand lira last week. During the same period, installment commercial loans rose by 1.15% to 1 trillion 366 billion 740 million 389 thousand lira, and credit card balances increased by 1.90% to 1 trillion 677 billion 11 million 995 thousand lira.

Of the consumer loans in deposit banks, 395 billion 300 million 312 thousand liras were for housing, 70 billion 201 million 690 thousand liras were for vehicles, and 1 trillion 8 billion 986 million 437 thousand liras were for other loans.

The total credit volume of the banking sector, including the CBRT, increased by 132 billion 923 million 161 thousand lira to reach 11 trillion 746 billion 218 million 586 thousand lira in the week ending on February 23. The total credit volume increased by 52.33% compared to the same period last year.

source: prepared by Melisa Beğiç

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