Following the Central Bank of the Republic of Turkey's (CBRT) decision to lower the policy rate to 36 percent last month, the downward trend in TL profit share rates continues. According to the current rates announced on the websites of participation banks, the highest profit share is at the 36.80 percent level.
As the markets enter the final period of the year, the 4th Inflation Report to be announced this week and the CBRT interest rate decision to be taken on December 10 are being closely monitored. The impact of the interest rate reduction process on TL returns has also brought deposit and participation account preferences back to the agenda.
CBRT Governor Fatih Karahan stated in his presentation at the Economy Meeting organized by TÜGİAD Ankara that the transition to TL deposits has strengthened. Karahan expressed that, with the impact of the tight monetary policy stance, macroprudential measures, and steps taken, the share of TL deposits within total deposits has remained above 60 percent.
Karahan said that a significant portion of the funds recently exiting money market funds has also shifted toward TL deposits. In his assessment regarding the inflation outlook, he noted that as of October, the annualized main trend of inflation had declined to 23.7 percent, while energy inflation had risen to 51.4 percent.
CURRENT PROFIT SHARE RATES
| Bank | Announced rate |
|---|---|
| Hayat Finans | %36.80 |
| Türkiye Finans | %36.55 |
| Dünya Katılım | %36.41 |
| Kuveyt Türk | %35.39 |
| Albaraka | %31.92 |
| Vakıf Katılım | %31.01 |
According to the calculation made based on the highest rate of 36.80 percent, the 31-day net return on a 750,000 TL participation account reaches 19,339 TL. The calculation considered a maturity of 31 days and a principal of 750,000 TL.
Karahan also reiterated the message that the necessary tight monetary policy stance will be maintained with determination until price stability is achieved. For this reason, the course of deposit and participation account returns will be monitored alongside inflation data and the CBRT's future interest rate decisions.
News Source: 12punto
