Turkey’s Bank Deposits Fell as Lending Continued to Rise
Central bank data showed deposits fell 0.59% in the week to Oct. 23, while total credit and consumer lending increased.
Key takeaways
- Bank deposits fell 0.59% to 34 trillion 217 billion 100 million lira in the week to Oct. 23.
- Total credit rose to nearly 28 trillion lira, while consumer lending increased 0.87%.
Turkey’s banking-sector deposits fell 0.59% to 34 trillion 217 billion 100 million lira in the week to Oct. 23, according to weekly data from the Central Bank of the Republic of Türkiye.
Turkish-lira deposits declined 0.49% to 19 trillion lira, while foreign-currency deposits measured in lira fell 0.93% to 11 trillion 103 billion 250 million lira. Adjusted for exchange-rate effects, foreign-currency deposits held by domestic residents increased by $223 million.
Total credit across the banking sector, including the central bank, rose by 83 billion 520 million 916 thousand lira to nearly 28 trillion lira. Consumer lending, including individual credit-card balances, increased 0.87% to 6 trillion 931 billion 17 million 214 thousand lira.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
