The era of FX-Protected Deposits has ended: KKM balance hit zero in the week of August 21

The balance in FX-Protected TL deposit and participation accounts hit zero as of the week of August 21. Data from the Banking Regulation and Supervision Agency (BRSA) showed that the balance in the KKM scheme, which was once used to limit demand for foreign currency, has been completely closed.

In the same week, the total loan volume of the banking sector increased by approximately 51 billion TL compared to the previous week, rising to 27 trillion 734.3 billion TL. Consumer loans fell to 3 trillion 423.5 billion TL, while individual credit cards decreased to 3 trillion 353.3 billion TL.

Commercial and other loans rose to 20 trillion 957.5 billion TL, and installment commercial loans reached 4 trillion 230.3 billion TL. Corporate credit cards also increased to 1 trillion 82.9 billion TL. Non-performing loans reached the level of 838.97 billion TL.

According to BRSA data, total securities rose to 7 trillion 970 billion TL, and total deposits increased to 32 trillion 316.5 billion TL. Non-cash loans and liabilities were recorded at 11 trillion 214.3 billion TL.

Securities held in banks rose to 4 trillion 600.9 billion TL. Of this amount, 3 trillion 700.4 billion TL consisted of securities held on behalf of domestic residents, and 900.54 billion TL on behalf of foreign residents.

The sector's on-balance sheet foreign currency position was minus 2 trillion 813.4 billion TL, and the off-balance sheet foreign currency position was 2 trillion 854.8 billion TL. While the net foreign currency general position rose to 41.43 billion TL, legal equity increased to 5 trillion 983.4 billion TL.

News Source: 12punto