Rise in banking deposits

In the Turkish banking sector, a notable increase in deposit figures occurred during the week of June 12. According to the latest data released, the sector's total deposits increased by 0.19 percent compared to the previous week, reaching 31 trillion 29 billion 699 million 511 thousand liras. During the week in question, deposits rose by approximately 57 billion 513 million liras.

While a 0.95 percent increase was observed in Turkish lira deposits in banks compared to the previous week, reaching a total of 16 trillion 937 billion 289 million liras, there was a 1.50 percent decrease in foreign currency (FX) deposit accounts, with total FX deposits falling to 10 trillion 211 billion 615 million liras.

Total foreign currency deposit accounts in the banking system amounted to 262 billion 88 million dollars, with the majority of this amount, 222 billion 7 million dollars, held in the accounts of domestic residents. When adjusted for parity effects, foreign currency deposits belonging to domestic residents increased by 266 million dollars on the same date.

INCREASE CONTINUES IN LOAN VOLUME AND CARDS

During the same week, the total loan volume of the banking sector increased by 187 billion 960 million liras, rising to 25 trillion 573 billion 634 million liras. The rise in loan amounts was effective on both the individual and corporate sides.

The total consumer loans used by domestic residents increased by 1.41 percent last week, reaching 6 trillion 529 billion 259 million liras. In the distribution of these loans, 792 billion 667 million liras were allocated to housing loans, 43 billion 215 million liras to vehicle loans, 2 trillion 486 billion 271 million liras to personal loans, and 3 trillion 207 billion 105 million liras to individual credit card balances.

Thus, the increase in deposits in the banking sector as of last week was particularly effective in Turkish lira accounts, while a decrease was observed in foreign currency accounts.

News Source: 12punto