Türkiye: Weekly Banking Tracker, 6 December 2024

Summary

Since Dec 6th was the day for finalizing credit growth monthly caps, the weekly growth of FX-adjusted credits decelerated from 0.9% to 0.3%. The deceleration was due to consumer credits in the sector.

Key points

• Key points:
• Deceleration in consumer credits happened in all of its subsegments in both public and private banks. After its strong weekly jump in the last week of November, consumer credit card weekly growth realized as negative due to private banks.
• Weekly growth in TL commercial credits was limited due to contraction in public banks. However, its 4w trend rate started to move upwards slightly due to previous week’s strong increase.
• FC credit growth accelerated two weeks in a row. Including the parity impact, its trend rate is reached 1%.
• Fall in FC deposits was strong with $3bn due to fall in corporates’ USD deposits by $2.7bn. Adjusted from price effects, the fall in FC deposits was $2.7bn on a weekly basis resulting in an overall decline of $19.4bn year to date ($26.3bn since end March) according to the CBRT. Deposit dollarization ratio fell to 35.9%.
• The Non-Performing Loans (NPL) ratio of the sector remained at 1.8%. The ratio for consumer credit cards continued to rise further to 2.9%; and it rose to 3.7% for GPL.

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