The provinces with the highest increase in credit card debt have been revealed! Which city is at the top?

Citizens struggling with the cost of living due to high inflation and rising prices have found a solution in loans and credit cards.

While signals for regulations on credit cards have been coming from bank executives as well as the Central Bank of the Republic of Turkey (TCMB), the Banking Regulation and Supervision Agency (BDDK) has released data on credit cards by province through its Fintürk platform.

In the data released by Fintürk, provinces were ranked according to their credit card debt. Konya became the province with the highest individual credit card debt. Additionally, the provinces with the highest increases in personal loan debt were also announced.

KONYA WAS FOLLOWED BY BURSA

As reported by Cumhuriyet; as of the end of March 2024, compared to the end of December 2023, individual credit card debts increased by an average of 19.1 percent to 1.4 trillion liras, while this increase rate was 37.5 percent in Konya, 25.1 percent in Bursa, 23.9 percent in Muğla, 22.8 percent in Antalya, and 22.6 percent in Aksaray.

ISTANBUL AND MALATYA DETAIL

This increase was 20 percent in Istanbul, the province where credit cards are used by far the most. The province with the lowest increase in card debt was Malatya with 7.1 percent.

HIGHEST INCREASE IN OVERDRAFT ACCOUNTS IN ANTALYA

Overdraft account usage also increased by an average of 25.8 percent in the last three months, rising to 215.2 billion liras. The province with the highest increase in this type of debt was Antalya with 33.1 percent. This province was followed by Nevşehir with 32.8 percent, Elazığ with 31.8 percent, Muğla with 31.6 percent, and Çorum with 30.7 percent. While such debts rose by 25.5 percent in Istanbul, the lowest increase was calculated in Hakkâri with 18.4 percent.

PERSONAL LOAN DEBTS INCREASED THE MOST IN THAT PROVINCE

Furthermore, personal loan debts rose by an average of 7.8 percent to 880.4 billion liras. The provinces with the highest increases were Tunceli with 13.2 percent, Ardahan with 12.2 percent, Gümüşhane with 12.1 percent, Rize with 11.8 percent, and Kırşehir with 11.7 percent. The increase in Istanbul was 8.2 percent. The highest decrease was in Hatay with 2.2 percent.

On the other hand, according to more recent data from the BDDK, as of the week of May 17, consumer loans reached 3 trillion liras, an increase of 13.7 percent compared to the end of 2023 and 49.6 percent compared to May 18, 2023. In this context, individual credit card debts reached 1 trillion 385 billion liras, with increases of 19.9 percent and 106.6 percent, respectively.

News Source: 12punto