As of July 26, 2024, the Turkish banking sector’s credit volume surged by ₺84.8 billion, while deposits and consumer loans also showed significant increases.
The credit volume in Turkiye’s banking sector reached a new milestone, hitting ₺14 trillion during the week ending July 26, 2024. According to the latest weekly bulletin released by the Banking Regulation and Supervision Agency (BDDK), the sector saw an increase of ₺84.8 billion, bringing the total credit volume to ₺14.363 trillion, up from ₺13.915 trillion the previous week.
In addition to the surge in credit volume, the total deposits in the banking sector, including interbank deposits, grew by ₺184.6 billion, reaching ₺16.931 trillion by the end of the week.
Consumer loans also experienced significant growth, rising by ₺15.9 billion to a total of ₺1.745 trillion. Of this amount, ₺449.8 billion was allocated to housing loans, ₺86.7 billion to vehicle loans, and ₺1.209 trillion to personal needs loans.
During the same period, installment-based commercial loans increased by ₺10.9 billion, reaching ₺1.746 trillion. Meanwhile, banks’ individual credit card debt rose by 2.4%, totaling ₺1.496 trillion, with ₺519.9 billion in installment debt and ₺976.7 billion in non-installment debt.
The banking sector’s non-performing loans also saw an increase, rising by ₺2.8 billion to ₺241.2 billion as of July 26. Out of this amount, ₺182 billion has been provisioned as special reserves.
Additionally, the legal equity capital of the banking system grew by ₺41.2 billion, reaching ₺3.065 trillion.
However, the balance of currency-protected deposits (KKM) saw a decline of 2.6%, dropping by ₺49.7 billion to ₺1.832 trillion during the same period.
Source: AA / Prepared by Irem Yildiz