Türkiye: Weekly Banking Tracker, 18 October 2024

Summary

On the week of 18th October, the weekly growth of FX-adjusted credits decelerated sharply from 0.2% to 0.05% led by the contraction in consumer credits of public banks. Trend rate of total credit growth continued to move down as well.

Key points

• Key points:
• All consumer credits’ subsegments decelerated in both public and private banks. Consumer credit cards’ contracted also sharply in public banks. Trend rate in credit cards implies a moderation in this segment.
• TL commercial credits’ growth turned from negative to positive due to both SME and non-SME lending in the sector. The overall trend rate of TL commercial credits is moving downwards though.
• FC credits’ weekly growth was negative due to both SME and non-SME lending in private banks. Overall trend rate entered the negative area, after having reached the lowest level last week since the introduction of monthly caps in this credit segment in April.
• The fall in FC protected scheme (in US dollar terms) was strong with $1.7bn declining to $41.6bn. The share of TL deposits excluding FC protected scheme in total deposits rose from 54.7% to 55.1%.
• The Non-Performing Loans (NPL) ratio of the sector stayed at 1.74%. The NPL ratio of consumer credits is stable whereas commercial credits NPL is accelerating led by the SMEs.

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