Business · Economy · 14 hrs ago

Turkey’s bank deposits fell as consumer loans rose

Turkey’s bank deposits fell as consumer loans rose

The Central Bank of the Republic of Türkiye’s weekly data showed that bank deposits fell in the week ending October 23.

Total deposits dropped by about 203.1 billion lira, or 0.59%, to 34.22 trillion lira.

Both lira and foreign-currency deposits declined over the week.

The data also showed that foreign-currency deposits held by domestic residents rose by 223 million dollars after adjustment for exchange-rate effects.

Consumer loans increased 0.87% to 6.93 trillion lira, including housing, vehicle and personal loans as well as credit-card balances.

The figures show deposits and consumer borrowing moving in opposite directions, but they do not explain why either changed.

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