Deposit and loan volume in banks is growing

According to the latest weekly data published by the Central Bank of the Republic of Turkey, the total volume of deposits held in banks rose significantly in the week ending May 26. The sector's total deposits increased by 436 billion 590 million 944 thousand TL compared to the previous week, reaching 31 trillion 57 billion 34 million 992 thousand TL. The rate of this increase was calculated at 1.4 percent.

Turkish lira-denominated deposits showed an increase of 0.3 percent during the period in question, exceeding the 16 trillion 549 billion lira threshold. On the other hand, foreign currency (FX) deposits rose by 1.4 percent to 10 trillion 494 billion lira.

When viewed in dollar terms, total FX deposits in banks reached the level of 270 billion 696 million dollars, while 230 billion 427 million dollars of this amount belonged to domestic account holders. Taking into account data adjusted for parity effects in the FX deposits of domestic residents, an increase of 1 billion 488 million dollars was detected on a weekly basis.

This dynamic picture in the sector was accompanied by an expansion in loans. As of the last week of May, the total loan volume rose by 129 billion 221 million 251 thousand lira to 25 trillion 261 billion 896 million 655 thousand lira.

DOMESTIC LOAN AND CARD USAGE ON THE RISE

Significant growth was also observed in consumer loans for domestic residents. In the week in question, the loan volume in this area increased by 1.2 percent, reaching 6 trillion 412 billion 359 million 139 thousand lira.

When the composition of consumer loans is examined, housing loans reached the level of 782 billion 917 million 909 thousand lira, while vehicle loans reached 44 billion 232 million 854 thousand lira. While personal loans were recorded at 2 trillion 409 billion 993 million 909 thousand lira, individual credit card debts stood at 3 trillion 175 billion 214 million 467 thousand lira.