Türkiye | Weekly Banking Tracker. July 12, 2024

Summary

The weekly growth of FX-adjusted credits accelerated from 0.3% to 0.45% due to consumer credits of public and private banks. Total credits’ 4 week average trend fell however to 0.3% due to lagged impact of Bayram holidays’ week.

Key points

• Key points:
• Weekly growth in TL commercial credits accelerated slightly to positive rate led by SME lending in private banks.
• Acceleration in consumer credits happened in all sub-segments of both public and private banks.
• FC credits’ weekly growth decelerated due to non-SME lending in the sector.
• The decline in the FC protected scheme (in US dollar terms) continues with an acceleration and fell by another $2.1bn to USD 59.4bn.
• As released by the CBRT, TL deposit rates fell by 39bps to 56.1%. The highest rate remains to be in up to 3 months with 59.6% followed by up to 6 months bracket with 57%.

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