Türkiye | Weekly Banking Tracker. August 16, 2024

Summary

The weekly growth of FX-adjusted credits continued to decelerate on the 3rd week of August from 0.1% to 0.05% due to consumer credits credits of both public and private banks.

Key points

• Key points:
• TL commercial credits’ weekly growth accelerated after 2 weeks of deceleration caused by the SME lending in the sector. Consumer credits contracted due to sharp deceleration in all consumer subsegments of both public and private banks.
• FC credits’ weekly growth accelerated due to non-SME lending in private banks. Monthly growth became higher than the growth limit for both public and private banks (monthly growth limit has been reduced to 1.5% for FC loans as of July 22nd).
• The FC protected scheme (in US dollar terms) fell by another $1.9bn to USD 49.7bn. The share of TL deposits excluding FC protected scheme in total deposits rose to 52.6% from 52% previous week (vs. the CBRT’s target of 50% in 2024).
• Decline in commercial rates continued last week and fell by another by 78bps to 57.8%. Consumer rates fell also by 111bps to 71.2% caused by the decline general purpose loan rates by almost 100bps moving down to 73.7%.
• The Non-Performing Loans (NPL) ratio of the sector kept its slow upward trend to 1.72%. (1.45% public banks, 2.16% private banks).

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