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Slowdown in Withdrawals from FX Protected Deposits

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Withdrawals from FX protected deposit accounts slowed down in the week of September 27th. The FX protected deposit balance decreased by 22 billion 188 million lira last week. The credit volume of the banking sector increased by 150 billion 891 million lira to reach 14 trillion 926 billion 253 million lira in the week of September 27th. According to the weekly bulletin of the Banking Regulation and Supervision Agency (BRSA), the sector’s credit volume increased by 150 billion 891 million lira as of September 27th. During that period, the credit volume rose from 14 trillion 775 billion 363 million lira to 14 trillion 926 billion 253 million lira. Total deposits in the banking sector, including interbank deposits, increased by 210 billion 302 million lira last week to reach 17 trillion 940 billion 473 million lira. CONSUMER CREDITS INCREASED The amount of consumer loans reached 1 trillion 829 billion 187 million lira, with an increase of 20 billion 656 million lira as of September 27th. Out of this amount, 465 billion 294 million lira was for housing loans, 78 billion 925 million lira for vehicle loans, and 1 trillion 284 billion 968 million lira for personal loans. During this period, the amount of installment commercial loans increased by 21 billion 846 million lira to 1 trillion 918 billion 254 million lira. Individual credit card receivables of banks increased by 2.7% to reach 1 trillion 624 billion 364 million lira. Out of the individual credit card receivables, 560 billion 715 million lira was for installment payments, while 1 trillion 63 billion 649 million lira was for non-installment debts. INCREASE IN LEGAL EQUITY Legal equity in the banking sector increased by 16 billion 899 million lira to reach 3 trillion 189 billion 791 million lira. The FX protected deposit balance decreased by 1.4% last week, with a decrease of 22 billion 188 million lira, reaching 1 trillion 511 billion 744.1 million lira. Thus, the FX protected deposit magnitude decreased to 8.4% of the total deposits.

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