Türkiye| Weekly Banking Tracker. July 19 , 2024

The weekly growth of FX-adjusted credits turned into a contraction from 0.5% to -0.4% due to both commercial and consumer credits in the sector.

Key points

• Key points:
• Weekly growth in TL commercial credits was negative due to both SME and non-SME lending in the sector. Consumer credits contracted in all sub-segments in the sector, but mainly led by public banks’ general purpose loans.
• FC credits’ weekly growth continued to decelerate for the second week in a row due to both SME and non-SME lending in the sector. 4w cumulative growth is 2.2% in the sector (where 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 $2bn to USD 57.5bn. The share of TL deposits excluding FC protected scheme in total deposits rose to 51.5% (vs. the CBRT’s target of 50% in 2024).
• As released by the CBRT, TL deposit rates fell by 40bps to 55.8%. The highest rate remains to be in up to 3 months with 59.3% .
• The Non-Performing Loans (NPL) ratio of the sector rose to 1.7% led by the increase in NPL of public banks (1.4% in public; 2.1% in private).

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