Consumer loans rise to $74 billion

Consumer loans rise to $74 billion

Consumer loans rise to $74 billion

Consumer loans extended by local lenders increased by 1.1 percent on a weekly basis to hit 422 billion Turkish Liras (around $74 billion) in the week ending Sept. 27, data from the banking market watchdog BDDK showed on Oct. 3.

Housing loans grew 0.8 percent week-on-week to 187 billion liras, while personal finance loans exhibited a 1.3 percent rise to stand at 229.4 billion liras as of Sept. 27.

Car loans, however, declined by 0.1 percent to 5.8 billion liras, according to data.

The BDDK also reported that commercial and other loans provided by the local lenders declined 0.2 percent over the same period to nearly 2 trillion liras.

Loans extended to small and medium-sized companies inched down 0.1 percent to 607 billion liras.

The banking industry’s total loan volume reached 2.53 trillion liras as of Sept. 27, rising 0.1 percent on a weekly basis.

Non-performing loans (NPL) of the local banks rose by 0.8 percent to stand at 127.5 billion liras.

In the consumer loans segment, NPLs amounted 13.9 billion liras.

Turkey, Economy,