Turkish banking sector sees deposits surge by 2.69% in week

The banking sector’s deposits in Türkiye increased by approximately ₺442,043,489,000 (approximately $13,438,383,672) to reach a total of ₺16,838,257,061,000 (approximately $514 billion) in the week ending June 14.

The Central Bank of the Republic of Türkiye (CBRT) released its weekly monetary and banking statistics.

Accordingly, the banking sector’s total deposits (including interbank) rose by ₺442,043,489,000 (approximately $13,438,383,672) to reach ₺16,838,257,061,000 (approximately $514 billion) as of June 14.

During the same period, Turkish lira-denominated deposits in banks increased by 5.33% to ₺10,173,170,835,000 (approximately $308 billion), while deposits in foreign currency (FC) decreased by 1.36% to ₺5,907,222,385,000 (approximately $179 billion).

Total FC deposits in banks amounted to $193,273,000,000 last week, with $162,839,000,000 held in accounts of domestic residents.

Considering data adjusted for exchange rate effects, domestic residents’ total FC deposits showed a decrease of $1,676,000,000 as of June 14.

Increase in installment commercial credit

Consumer loans in deposit banks increased by 0.88% last week to ₺1,616,372,800,000 (approximately $49 billion).

During the same period, installment commercial credits rose by 1.02% to ₺1,542,645,778,000 (approximately $47 billion), and credit card balances increased by 2.10% to ₺1,942,061,889,000 (approximately $59 billion).

Consumer loans in deposit banks consisted of ₺404,719,921,000 (approximately $12 billion) for housing, ₺70,729,000,000 (approximately $2 billion) for vehicles, and ₺1,140,923,878,000 (approximately $35 billion) for other loans.

The total credit volume of the banking sector, including the CBRT, increased by ₺148,260,516,000 (approximately $4.5 billion) in the week ending June 14, reaching ₺13,216,199,049,000 (approximately $401,405,569,404).

Total credit volume recorded a 42.09% increase compared to the same period last year.