Citizens, who have suffered a great loss in purchasing power due to high inflation and the depreciation of the Turkish lira, are loading up on loans and credit cards. Credit cards account for 46 percent of retail loans, consumer loans for 29 percent, housing loans for 15 percent, vehicle loans for 3 percent and overdraft accounts for 7 percent.
According to data from the Banks Association of Turkey (TBB), retail loans extended by banks and non-bank financial institutions increased by 65 percent to reach TL 3.1 trillion.
According to the news in Sözcü, while 99 percent of retail loans were extended by banks, 46 percent of retail loans were credit cards, 29 percent were personal loans, 15 percent were housing loans, 3 percent were vehicle loans and 7 percent were overdraft accounts.
Excluding non-performing loans, the number of retail loan borrowers increased by approximately 2 million in the last one year and reached 40.3 million, while the average loan balance was realized as 76.8 thousand TL.
Total retail loans and credit card debts exceeded 3 trillion TL
According to the latest data of the Banking Regulation and Supervision Agency (BRSA) for the week of May 10, the total amount of personal loans and credit card debts extended by banks reached 3 trillion 64 billion TL. While 1 trillion 653 billion TL of this total was composed of personal loans, credit card debts reached 1 trillion 410 billion TL.
