Türkiye: Weekly Banking Tracker, 15 November 2024

On the week of 15th November, weekly growth of FX-adjusted credits accelerated from 0.2% to 0.4% due to commercial credits in public banks. 4w trend rate of total credit growth rose to 0.44%.

Key points

• Key points:
• As of mid-November, public banks’ total loan growth rate started to exceed that of private banks. Regarding the credit segments, the trend rate of total fx adj. commercial credits remains below that of consumer credits.
• Deceleration in consumer credits continued with negative weekly growth due to public banks. Consumer credit cards accelerated thanks to private banks. The overall trend of consumer credits and cards moved up.
• On commercial credits, the weekly push in Tl commercial credits was limited keeping the trend rate still at low levels of 0.2% (which was around 1.3% in Nov 21 & Nov 22). Deceleration in FC credits’ weekly growth continued with negative growth, albeit caused by the parity impact. In parity adjusted terms, its trend rate continued to move up to 1.5%.
• Increase in FC deposits was very limited with $25mn due to the decline in hholds’ gold deposits by $1bn on mostly price effects compared to corporates’ inflows of $1.6bn USD deposits on Euro accounts. Dollarization ratio fell to 35.7%.
• The Non-Performing Loans (NPL) ratio of the sector rose to 1.8%. The ratio for consumer credit cards continued to rise further to 2.8% and for GPL to 3.6%. The ratio for commercial credits remains at 1.7%.

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