Türkiye | Weekly Banking Tracker. February 16, 2024

In the week ending by February 16, foreign currency adjusted weekly credit growth decelerated to 0.2% from 0.5% due to consumer credits of public banks and commercial credits of private banks. Total credits’ 13-week annualized trend rose from 27.2% to 27.5% due to carry-over impact of the final weeks of January.

Key points

• Key points:
• TL commercial credits’ weekly growth slightly decelerated due to SME credits of private banks.
• Deceleration in consumer credits was led by significant weekly contractions in all sub-segments of public banks’ consumer credits.
• TL deposits rose by TL 217.7bn led by the increase in TL demand deposits of all segments. Residents’ FC deposits fell by $1.1bn due to fall in both corporates ($706mn) and households’ USD ($458mn) deposits.
• The FC protected scheme (in US dollar terms) continued to fall to USD 76.6bn. The share of TL deposits excluding FC protected scheme in total deposits rose to 43.7% (vs. the CBRT’s target of 50% in 2024).
• The Non-Performing Loans (NPL) ratio of the sector remained at 1.6% (1.2% in public; 2% in private).

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