Business

Turkiye: Deposit interest exceeded 52%

While the total deposits of the banking sector increased by ₺270.5 billion in the week ending December 15, reaching ₺14 trillion 874.3 billion, deposit interest also reached 52.2%.

Weekly money and bank statistics were published by the Central Bank of the Republic of Turkiye (CBRT). Accordingly, total deposits in the banking sector (including interbank) increased by ₺270 billion 540 million 819 thousand in the week ending December 15, reaching ₺14 trillion 874 billion 284 million 560 thousand.

According to Bloomberg HT news, deposit interest rates exceeded 52% in parallel with the increase in interest rates. While deposit interest rates increased to 52.2%, commercial loan interest rates reached 52.4%.

Consumer loan interest rates also increased to an average of 61.7%

In the same period, TL deposits in banks increased by 3.09% to ₺8 trillion 529 billion 415 million 924 thousand, and foreign currency (FX) deposits increased by 0.87% to ₺5 trillion 734 billion 762 million 540 thousand.

While total FX deposits in banks amounted to $208 billion 824 million last week, $176 billion 128 million of this amount was collected in the accounts of domestic residents.

Considering the data adjusted for parity effect, there was a decrease of $327 million in the total FX deposits of domestic residents as of December 15.

INSTALLMENT COMMERCIAL LOAN AMOUNT INCREASED

Consumer loans in deposit banks decreased by 0.16% last week and reached ₺1 trillion 395 billion 627 million 849 thousand. In the same period, commercial installment loans increased by 1.04% to ₺1 trillion 232 billion 333 million 54 thousand, and credit card balances increased by 0.67% to ₺1 trillion 434 billion 95 million 61 thousand.

Of the consumer loans in deposit banks, ₺396 billion 28 million 160 thousand consisted of housing, ₺69 billion 789 million 234 thousand from vehicle loans and ₺929 billion 810 million 455 thousand from other loans.

The total credit volume of the banking sector, including the CBRT, increased by ₺79 billion 488 million 609 thousand in the week ending December 15, reaching ₺10 trillion 944 billion 472 million 639 thousand. Total loan volume increased by 53.52% compared to the same period last year.

Source: Patronlardunyasi / Prepared by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button