Significant drop in deposits

The Central Bank of the Republic of Turkey (TCMB) has published its money and banking statistics for the week of November 21. According to these data, the total deposits of the banking sector decreased by 197 billion 125 million 814 thousand liras, falling to 26.7 trillion liras. Declines were observed in both Turkish lira and foreign currency deposits.

Deposits in Turkish lira decreased by 0.1 percent to 14.6 trillion liras, while foreign currency deposits fell by 0.9 percent to 8.9 trillion liras. When adjusted for parity effects, foreign currency deposits of domestic residents decreased by 241 million dollars.

Consumer loans of domestic residents in the banking sector also decreased by 0.6 percent last week, falling to 5.3 trillion liras. These loans consisted of 653 billion liras in housing loans, 48 billion liras in vehicle loans, 2 trillion liras in personal finance loans, and 2.5 trillion liras in individual credit card debt.

On the other hand, the total loan volume of the banking sector, including the TCMB, increased by 19 billion 222 million 379 thousand liras in the week of November 21, reaching 21.2 trillion liras. This increase indicates that activity in the credit market continues.

News Source: 12punto