Türkiye | Weekly Banking Tracker. January 5, 2024

Summary

Foreign currency adjusted weekly credit growth decelerated from 0.9% to 0.1% due to commercial credits of both public and private banks in the week ending by January 5.

Key points

• Key points:
• Among the sub-segments of TL credits, after 3 weeks of accelerating growth, TL commercial credits decelerated mainly led by the non-SME credits of private banks.
• Consumer credits’ weekly growth declined due to all consumer sub-segments of both public and private banks.
• Consumer credit cards’ weekly growth slowed down significantly in the first week of the year after having reached its record level last week ahead of the New Year’s Eve.
• Commercial credit rates declined by 53bps to 52.2%, whereas consumer rates rose significantly by 392bps to 62.1%, improving the spreads on this segment.
• The Non-Performing Loans (NPL) ratio of the sector hovers around 1.6% (1.2% in public; 2.2% in private).

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