Commercial loans were 3 trillion 23 billion TL in March, and personal loans were 659 billion TL. In March, 114 thousand people used consumer loans for the first time.
Banks Association of Turkey (TBB) of the Risk Center “in March 2020 Bulletin” was published. Accordingly, cash loans extended by member organizations increased by 14 percent at the end of the first quarter compared to the same period last year and reached 3 trillion 23 billion liras. The rate of increase in the loan stock gained momentum.
Of the cash loans, 2 trillion 925 billion TL was provided by banks, 49 billion TL by financial leasing companies, 27 billion by factoring companies and 22 billion by financing companies.
The receivables to be liquidated amounted to TL 183 billion as of March. 174 billion TL of these receivables belonged to banks, 5 billion TL to financial leasing companies, 2.6 billion TL to factoring companies and 2 billion to finance companies.
The ratio of receivables to be liquidated to total loans increased by 1.3 points to 5.7 percent in March compared to the same month of the previous year, while the decline that started in early 2020 continued.
Commercial loans 2.4 trillion lira
As of March, commercial loans increased by 12 percent compared to the same month of the previous year and reached 2 trillion 364 billion liras.
Manufacturing industry had the highest share with 28 percent in loans. Other main sectors, with a share of 10 percent or more, were wholesale and retail trade, construction and energy.
In this period, the sector with the highest rate of receivables to be liquidated was the construction sector with 11.1 percent. Tourism sector followed this sector with 9.1 percent.
Personal loans 659 billion lira
Retail loans extended by banks and non-bank financial institutions increased by 21 percent compared to the same month of the previous year and reached 659 billion lira as of March. 45 percent of individual loans were consumer loans, 33 percent housing loans, 18 percent credit cards and 4 percent vehicle loans.
In the same period, the non-performing loan ratio in retail loans decreased by 0.4 points to 3.7 percent.
The number of people using personal loans (excluding non-performing loans) increased by 1.2 million in the last year to 32.2 million, while the average loan balance was 21 thousand TL.
114 thousand people used consumer loans for the first time
In March, 114 thousand people used consumer loans for the first time and 92 thousand people used credit cards for the first time. While the number of people using overdraft accounts was 74 thousand, 32 thousand people received housing loans for the first time.
During this period, the highest personal loan balance among provinces was in Istanbul. There is a personal loan of 202 billion lira in Istanbul, 64 billion lira in Ankara and 45 billion lira in Izmir.
Hakkari was the province with the highest increase in personal loan balance in the last 12 months with 58 percent. The provinces with the highest average personal loans (including credit cards) per capita were listed as Ankara, İzmir and Mersin, respectively.