土耳其銀行行業(yè)市場前景及投資研究報告-外文版培訓課件

INDUSTRIES

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MARKETSBankingindustryinTurkeyCHAPTER

01OverviewTotalassetsoffinancialinstitutionsinTurkeyfrom2008to2022,byinstitution(inbillionU.S.dollars)AssetsofallfinancialinstitutionsinTurkey2008-2022,byinstitutionCentralBankBanksInsuranceCorporationsPensionFundsOtherFinancialIntermediaries(OFIs)PublicFinancialInstitutions1,2001,00080060040020002008200920102011201220132014201520162017201820192020202120224Description:ThetotalassetsofcentralbankinTurkeyincreasedoverallbetween2008and2022,fromavalueof22.5billionU.S.dollarsin2008toatotalvalueof191billionU.S.dollarsasof2022.Furthermore,thetotalassetsofpublicfinancialinstitutionsinTurkeyamountedto32billionU.S.dollarsin2022.ReadmoreNote(s):Turkey;2008to2022Source(s):FinancialStabilityBoard;Varioussources(Nationalfinancialaccountsdata)TotalassetsofthebankingsectorinTurkeyfrom2005to2022(inbillionU.S.dollars)TotalassetsofthebankingsectorinTurkey2005-202290080070060050040030020010002005200620072008200920102011201220132014201520162017201820192020202120225Description:ThevalueofassetsforallbankinginstitutionsinTurkeyincreasedconsistentlyfrom2005to2020.Startingfromavalueof51.7billionU.S.dollarsin2005,totalassetsofTurkishbankingcorporationspeakedatatotalvalueofapproximately770billionU.S.dollarsasof2020.In2022,thevalueassetsdroppedtoapproximately695.4billionU.S.dollars.ReadmoreNote(s):Turkey;2005to2022Source(s):FinancialStabilityBoard;Varioussources(Nationalfinancialaccountsdata)TotalassetsofthecentralbankinTurkeyfrom2002to2022(inbillionU.S.dollars)TotalassetsofthecentralbankinTurkey2002-202225020015010050191185.6167.5105.897.285.871.461.550.846.737.535.525.922.522.815.71512.710.9

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20226Description:ThevalueofassetsforthecentralbankinTurkeyincreasedsteadilyfrom2002to2022.TotalassetsofTurkey'scentralbankhaveincreasedfromroughly11billionU.Sdollarsin2002to191billionU.Sdollarsin2022.Centralbanksplayanimportantroleinpreventingacountry'sbankingsystemfromfailing.Themainfunctionofacentralbankistocontrolinflationbyprovidingstabilityofitscurrency.Theyalsoprovideacountry'seconomyfundswhencommercialbankscannotcovertheneed.[...]ReadmoreNote(s):Turkey;2002to2022Source(s):FinancialStabilityBoard;Varioussources(Nationalfinancialaccountsdata)Ratiooftheassetsizeofthebankingsectortogrossdomesticproduct(GDP)inTurkeyfrom2010to2023ShareoftheassetsizeofthebankingsectortoGDPinTurkey2010-20231.4%1.3%1.2%1.1%1.28%1.21%1.05%1.05%1.04%1.04%1.01%0.98%1.0%0.9%0.8%0.96%20130.96%20220.9%20230.87%20100.87%20110.87%2012201420152016201720182019202020217Description:TheratiooftheassetsizeoftheTurkishbankingsectortothecountry'sgrossdomesticproduct(GDP)totaled0.9percentin2023.In2021,theratioofthebankingsector'stotalassetstoGDPpeakedatnearly1.3percent.

ReadmoreNote(s):Turkey;2010to2023Source(s):BankingRegulationAndSupervisionAgencyCapitaladequacyratioofthebankingsectorinTurkeyfrom2018to2023CapitaladequacyratioofthebankingsectorinTurkey2018-202225%19.46%20%15%10%5%18.74%18.85%18.4%18.39%17.3%0%2018201920202021202220238Description:Asof2023,thecapitaladequacyratioofthebankingsectorinTurkeystoodat18.85percent.Thehighestratiowasrecordedinthepreviousyear,atnearly19.5percent.

ReadmoreNote(s):Turkey;2018to2023Source(s):BankingRegulationAndSupervisionAgencyTotalnumberofbanksinTurkeyfrom2018to2022,bytypeNumberofbanksinTurkey2018-2022,bytypeDepositbanksDevelopmentandinvestmentbanks34Participationbanks354035302520151053534331716141313666650201820192020202120229Description:ThetotalnumberofbanksoperatinginTurkeywentupfrom51in2018to58in2022.Thenumberofdepositbanksamountedto35asoftheendof2022,whereasdevelopmentandinvestmentbankssummedupto17.

ReadmoreNote(s):Turkey;2018to2022;AsofDecember31ofeachyearSource(s):TheBanksAssociationofTurkeyTotalnumberofdepositbanksinTurkeyasof2022,bytypeNumberofdepositbanksinTurkey2022,bytype252120151085033State-ownedPrivateForeignSDIF*10Description:In2022,thetotalnumberofbanksoperatinginTurkeytotaled58.Thenumberofdepositbanksamountedto35asoftheendof2022,ofthisprivatebanksreachedthehighestcount,with21depositbanks.

ReadmoreNote(s):Turkey;2022;*SavingsDepositInsuranceFund.ReadmoreSource(s):BankingRegulationAndSupervisionAgency;TheBanksAssociationofTurkeyTotalnumberofbankbranchesinTurkeyasofSeptember30,2023,bytypeNumberofbankbranchesinTurkey2023,bytype4,0003,7773,4653,5003,0002,5002,0001,5001,0005002,301730Privately-ownedbanksState-ownedbanksForeignbanksDevelopmentandinvestmentbanks11Description:InTurkey,state-ownedbankshadthehighestnumberofbrancheswithatotalof3,777units,asofSeptember30,2023.Thiswasfollowedbyprivate-ownedbankswiththetotalofnearly3,500branches.DevelopmentandInvestmentbankshadthelowestnumberofbankbranchesamongtheothertypesofbanksinTurkey,with73branchesintotal.ReadmoreNote(s):Turkey;September30,2023Source(s):TheBanksAssociationofTurkeyTotalnumberofbankemployeesinTurkeyfrom2014to2022(in1,000s)NumberofbankemployeesinTurkey2014-2022250200.89201.21196.7193.5192.3120015010050188.84188.69186.61185.25020142015201620172018201920202021202212Description:Asof2022,thetotalnumberofbankemployeesinTurkeyreachedabout188,700.Between2014and2021,adownwardtrendwasobservedinthenumberofemployees.However,in2022,thefiguresrecordedaslightincrease.

ReadmoreNote(s):Turkey;2014to2022Source(s):TheBanksAssociationofTurkeyCHAPTER

02BankingsystemefficiencyandstabilityNetinterestincomeofthebankingindustryinTurkeyfrom2014to2022(inbillionU.S.dollars)NetinterestincomeofthebankingindustryinTurkey2014-202245403538.529.523025201510527.8927.727.0426.8326.0625.5919.13020142015201620172018201920202021202214Description:Between2014and2022,thenetinterestincomeofthebankingindustryfluctuatedinTurkey.Themostsignificantsurgeinthenetinterestincomewasseenin2022,withfiguresreaching38.5billionU.S.dollars,demonstratingagrowthofover101percentfromthepreviousyear.ReadmoreNote(s):Turkey;2014to2022Source(s):TheBanksAssociationofTurkeyNetoperatingprofitofthebankingindustryinTurkeyfrom2014to2022(inbillionU.S.dollars)NetoperatingprofitofthebankingindustryinTurkey2014-20223025201526.3214.9513.3312.6110.83201810.5420151058.68.587.20201420162017201920202021202215Description:In2022,thenetoperatingprofitofthebankingindustryinTurkeyamountedtoover26.3billionU.S.dollars,whichdemonstratedasignificantincreasecomparedtothepreviousyears.Between2014and2022,thenetoperatingprofitofthebankingindustryheavilyfluctuatedinthecountry.ReadmoreNote(s):Turkey;2014to2022Source(s):TheBanksAssociationofTurkeyCost-to-incomeratioofthebankingindustryinTurkeyfrom2012to2021Cost-to-incomeratioofthebankingindustryinTurkey2012-202153%50.76%51%49%47%45%43%41%39%37%35%47.75%46.47%43.75%43.58%42.3%40.71%40.06%201939.46%202139.06%2018201220132014201520162017202016Description:ThebankingindustryinTurkeyhadanaveragecost-to-incomeratioofabout39.5percentin2021.Thehighestratiowasrecordedin2015atnearly50.8percent.Between2012and2021,thecost-to-incomeratioofbanksinTurkeyfluctuated.

ReadmoreNote(s):Turkey;2012to2021Source(s):WorldBankReturnonequity(ROE)ofthebankingindustryinTurkeyfrom2005to2023ReturnonequityofbankingindustryinTurkey2005-20234.0%3.5%3.0%3.66%3.28%2.78%2.63%2.6%2.46%2.5%2.0%1.5%1.0%0.5%0.0%2.05%1.83%1.72%1.74%1.6%1.62%1.5%20161.45%1.33%20141.32%20211.16%20151.16%20191.07%2020200520062007200820092010201120122013201720182022202317Description:Thereturnonequity(ROE)ofthebankingsectorinTurkeyfluctuatedbetween2005and2023.In2023,thebankingindustryinTurkeyreportedareturnonequityofapproximately3.3percent,downfrom3.7percentin2022.

ReadmoreNote(s):Turkey;2005to2023Source(s):BankingRegulationAndSupervisionAgencyReturnonassetsratio(ROA)ofthebankingindustryinTurkeyfrom2005to2023Returnonassets(ROA)ofthebankingindustryinTurkey2005-20234.0%3.5%3.0%3.66%3.28%2.78%2.63%2.6%2.46%2.5%2.0%1.5%1.0%0.5%0.0%2.05%1.83%1.72%1.74%1.6%1.62%1.5%20161.45%1.33%20141.32%20211.16%20151.16%20191.07%2020200520062007200820092010201120122013201720182022202318Description:Asof2023,thereturnonassets(ROA)ofthebankingindustryinTurkeywasabout3.3percent,asignificantincreasecomparedtotheyearsbefore2022.TheROAiscalculatedbydividingacompany'snet,after-taxincomebytotalassetsandshowstheprofitabilityratio.ReadmoreNote(s):Turkey;2005to2023Source(s):BankingRegulationAndSupervisionAgencyRatioofbankcapitalandreservestototalassetsinTurkeyfrom2009to2022BankcapitaltoassetsratioinTurkey2009-202213.5%12.49%12.28%12.5%11.5%10.5%9.5%12.1%11.75%11.71%11.59%11%10.95%10.79%10.73%10.72%10.55%8.2%20228.5%7.5%7.18%20216.5%20092010201120122013201420152016201720182019202019Description:TheratioofbankcapitalandreservestototalassetsinTurkeyincreasedbyonepercentagepoints(+13.93percent)in2022incomparisontothepreviousyear.Intotal,theratioamountedto8.2percentin2022.Thisincreasewasprecededbyadecliningratio.ReadmoreNote(s):Turkey;2009to2022Source(s):WorldBankCHAPTER

03DigitalbankingNumberofactivedigitalbankingcustomersinTurkeyfrom1stquarter2017to4thquarter2023(in1,000s)NumberofactivedigitalbankingcustomersinTurkeyQ12017-Q42023120,000100,00080,00060,00040,00020,0000Q1

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'2321Description:ThetotalnumberofdigitalbankingcustomersinTurkeyconstantlyincreasedthroughouttheobservedperiod.Asofthefourthquarterof2023,therewerenearly110.56milliondigitalbankingcostumersinthecountry,whichwasthehighestnumberrecorded.ReadmoreNote(s):Turkey;Q12017toQ42023Source(s):TheBanksAssociationofTurkeyNumberofactiveinternetbankingcustomersinTurkeyfrom2014to2023(inmillions)NumberofactiveinternetbankingcustomersinTurkey2014-20232520.42017.414.31510513.1312.5412.511.9911.9812.0912.040201420152016201720182019202020212022202322Description:ThenumberofactiveinternetbankingcustomersinTurkeyincreasedsteadilyeachyearduringtheperiodfrom2014to2016,butdecreasedthefollowingyears.Thenumberofactiveinternetbankingcustomerspeakedat20.4millionin2016,butthenumberdecreasedto12.04millionactivecustomersin2023.Thenumberofactivemobilebankingcustomersinthecountryincreasedsteadilyduringthesameperiod.

ReadmoreNote(s):Turkey;2014to2023Source(s):TheBanksAssociationofTurkeyTotalnumberofactivemobilebankingcustomersinTurkeyfrom2014to2023(inmillions)NumberofactivemobilebankingcustomersinTurkey2014-202312010080108.7992.0975.1762.56049.2839.5520184029.5419.22201620012.26.72014201520172019202020212022202323Description:ThetotalnumberofactivemobilebankingcustomersinTurkeygraduallyincreasedfrom2014to2023.Thenumbergrewfromaround6.7millionactivecustomersin2014,tonearly108.8millionin2023.

ReadmoreNote(s):Turkey;2014to2023;ReferstocustomerswhologgedinatleastonceduringthelastthreemonthsSource(s):TheBanksAssociationofTurkeyTotalvalueofonlinebankingtransactionsinTurkeyfrom1stquarter2016to4thquarter2023(inbillionTurkishlira)QuarterlyvalueofonlinebankingtransactionsinTurkey2016-20238,0007,0006,0005,0004,0003,0002,0006,0804,1953,2422,2561,6051,3441,2051,0371,0229569639507947381,0000654571Q1

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'2324Description:ThefiguresforinternetbankingtransactionsinTurkeygenerallyfollowedanupwardtrendfromthefirstquarterof2016tothelastquarterof2022.Inthefirstquarterof2016,thevalueoftransactionsamountedto571billionTurkishlira.Bythefourthquarterof2023,thisfigurerosetoalmostseventrillionTurkishlira.ReadmoreNote(s):Turkey;Q12016toQ42023Source(s):TheBanksAssociationofTurkeyTotalvolumeofonlinebankingtransactionsinTurkeyfrom1stquarter2016to4thquarter2023(in1,000s)QuarterlyvolumeofonlinebankingtransactionsinTurkey2016-202390,00080,00070,00060,00050,00040,00030,00020,00010,0000Q1

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'2325Description:Inthefourthquarterof2023,thetotalvolumeofonlinebankingtransactionsamountedtoapproximately78.8million,whichwasthepeakvaluerecordedduringtheobservedtimeframe.ThevolumeofbankingtransactionsmadeontheinternetinTurkeyfluctuatedeachquarterfrom2016to2022,however,aconstantincreasewasobservedthroughout2023.ReadmoreNote(s):Turkey;Q12016toQ42023Source(s):TheBanksAssociationofTurkeyTotalvalueofonlinebankingpaymentsinTurkeyfrom1stquarter2016to4thquarter2023(inbillionTurkishlira)QuarterlyvalueofonlinebankingpaymentsinTurkey2016-2023500450400350300250200150100415263205127958871655855545549423838500Q1

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'2326Description:ThevalueofonlinebankingpaymentsinTurkeymostlyincreasedonaquarterlybasisbetween2016and2023.Asofthefourthquarterof2023,thetotalpaymentvaluepeakedat460billionTurkishlira.

ReadmoreNote(s):Turkey;Q12016toQ42023Source(s):TheBanksAssociationofTurkeyTotalvalueofmobilebankingpaymentsinTurkeyfrom1stquarter2016to4thquarter2023(inbillionTurkishlira)QuarterlyvalueofmobilebankingpaymentsinTurkey2016-2023700600500400300200100508377248166110937154393220231214670Q1

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'2327Description:ThevalueofpaymentsmadethroughmobilebankinginTurkeygenerallyincreasedonaquarterlybasisovertheobservedperiod.Inthefirstquarterof2016,themobilepaymentvalueamountedtosixbillionTurkishlira.Bythelastquarterof2023,thisfiguresignificantlyincreasedandpeakedat605billionTurkishlira.ReadmoreNote(s):Turkey;Q12016toQ42023Source(s):TheBanksAssociationofTurkeyTotalnumberoffinanceappdownloadsinTurkeyfrom2017toApril2024(inmillions)FinanceappdownloadsinTurkey2017-2024Totaldownloadsinmillions20

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300510153540455055ZiraatIstanbulkartGarantiBBVAAkbank48.8539.7532.3528.1627.6427.52IsCepYapiKrediVakifBankPapara18.6817.7817.3816.49HalkbankQNB28Description:ZiraatBank,aTurkishstate-ownedbank,rankedfirstamongfinanceapps,withalmost49milliondownloadsinTurkeyfrom2017toApril2024.OtherbankingappssuchasGarantiBBVA,andAkbankweredownloadedapproximately32.4and28.2timesinTurkeyasofApril2024.ReadmoreNote(s):Turkey;2017toApril2024Source(s):FinTechGlobalCHAPTER

04CorporatebankingNetinterestincomeofthecommercialbankingsegmentoftheretail&commercialbankingmarketinTurkeyfrom2017to2028(inbillionU.S.dollars)NetinterestincomeofcommercialbanksinTurkey2017-20284539.954039.8739.6739.1340353025201510538.236.7135.9132.9327.9325.9822.75020172018201920202021202220232024202520262027202830Description:Thenetinterestincomeinthetraditionalcommercialbankingsegmentoftheretail&commercialbankingmarketinTurkeywasforecasttoincreasebetween2024and2028byintotal0.7billionU.S.dollars(+1.79percent).Thisoverallincreasedoesnothappencontinuously,notablynotin2028.Theindicatorisestimatedtoamountto39.87billionU.S.dollarsin2028.ReadmoreNote(s):TurkeySource(s):BreakdownofbankloansinTurkeyin2022,bytypeShareofbankloansinTurkey2022,bytype90%80%80%70%60%50%40%30%20%10%0%53%27%20%9%6%5%1%CorporateloansOfthis:BigcompaniesOfthis:SMEsConsumerloans

Ofthis:Consuming

Ofthis:HousingOfthis:AutomobilesOfthis:Creditcards31Description:In2022,corporateloansaccountedforthemajorityofthebankloansinTurkey,totaling80percent.Whenitcomestocorporateloans,bigcompanieshadahighershareofloansgrantedfrombanks,with53percent.Additionally,consumerloansaccountedfor20percentofallloans.ReadmoreNote(s):Turkey;2022Source(s):TheBanksAssociationofTurkeyValueofloansextendedtosmallmediumenterprises(SMEs)bybanksinTurkeyfrom2015to2023,bysizeofenterprise(inbillionU.S.dollars)ValueofSMEloansextendedinTurkey2015-2023,bysizeMicroenterprisesSmallenterprisesMediumenterprises16014012010080604020020152016201720182019202020212022202332Description:ThetotalvalueofloansextendedtosmallmediumenterprisesinTurkeyamountedto109.3billionU.S.dollarsin2023.Themediumenterprisesreceivedthehighestvalueofloansbythebanks,totaling41.4billionU.S.dollarsinthesameyear.

ReadmoreNote(s):Turkey;2015to2023Source(s):BankingRegulationAndSupervisionAgencyTotalvalueofloansextendedtosmallandmediumenterprises(SMEs)inTurkeyfrom2010to2023,bycurrency(inbillionU.S.dollars)ValueofloansextendedtoSMEsinTurkey2010-2023,bycurrencyTurkishliraForeigncurrency1601401201008023.0622.422.7523.2922.4616.4498.48202018.7526.4915.0193.63202215.1694.12202320.6618.3668.38201118.7116.5164.65202160120.842014113.452017111.3104.32201397.3693.93201289.72201883.2820194063.2420102002015201633Description:In2023,thetotalvalueofbankloansextendedtosmallmediumenterprises(SMEs)inTurkeyreached109.3billionU.S.dollars.Thatyear,thevalueofloansextendedinTurkishlirawasworthover94billionU.S.dollars,whereastheloansinforeigncurrencyequaledabout15.2billionU.S.dollars.ReadmoreNote(s):Turkey;2010to2023Source(s):BankingRegulationAndSupervisionAgencyAverageinterestrateforcommercialbankloansinTurkeyfromJune2015toMarch2024,bycurrencyAverageinterestrateforcommercialbankloansinTurkey2015-2024TurkishliraU.SdollarEuro80%70%60%50%40%30%20%10%0%34Description:ThisstatisticillustratestheweightedaverageinterestratesofcommercialbankloansinTurkeyfromJune2015toMarch2024,bycurrencyofloan.Theaverageinterestrateofcommercialloanstodomesticbusinessesduringthisperiodsawthehighestinterestrates.AsofMarch2024,theaveragecommercialbankloansinTurkishlirawas67.59percent,ascomparedto7.53percentineurosand8.66percentforU.Sdollarloans.

ReadmoreNote(s):Turkey;June2015toMarch2024;*Figuresdisplayedaretakenfromthelastweekofeachmonthandareaweightedaverage.

ReadmoreSource(s):CBRTCHAPTER

05RetailbankingValueofbankdepositsinTurkeyin2022,bytypeofdeposit(inmillionU.S.dollars)ValueofbankdepositsinTurkey2022,bytypeofdepositOutstandingdepositsinmillionU.S.dollars60,000

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120,000020,00040,000140,000160,000180,000171,778200,000ForeigncurrencydepositsSavingsdeposits120,499CommercialdepositsPreciousmetalsdepositsInterbankdeposits87,56723,43822,011PublicsectordepositsOtherinstitutionsdeposits17,3478,62736Description:AsofDecember31,2022,thetotalvalueofbankdepositsamountedto451.27billionU.S.dollars.Foreigncurrencydepositsheldthehighestvalueofdeposits,totaling171.8billionU.S.dollars.Additionally,savingdepositsvaluedat120.5billionU.S.dollars.ReadmoreNote(s):Turkey;2022Source(s):TheBanksAssociationofTurkeyTotalnumberofdepositaccountsinbanksinTurkeyasofDecember31,2022,bytypeofbankNumberofdepositaccountsinbanksinTurkey2022,bybank400,000,000341,503,654350,000,000300,000,000250,000,000200,000,000150,000,000100,000,00050,000,0000142,244,422112,976,741DepositbanksState-ownedbanksPrivately-ownedbanks37Description:AsofDecember31,2022,thetotalnumberofdepositaccountsinbanksinTurkeyreachedover596.7million.Depositbankshostedthemajorityofthedepositaccounts,reachingover341.5millionin2022.

ReadmoreNote(s):Turkey;December31,2022Source(s):TheBanksAssociationofTurkeyTotalnumberofdepositaccountsinbanksinTurkeyasofDecember31,2022,bytypeofaccount(in1,000s)NumberofdepositaccountsinbanksinTurkey2022,byaccounttype300,000269,723.54250,000200,000150,000100,00050,00030,650.7817,316.0211,240.6810,603.741,666.7302.190SavingdepositsForeigncurrency

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depositsPublicsectordepositsOtherinstitutionsdepositsInterbankdeposits38Description:AsofDecember31,2022,thetotalnumberofdepositaccountsinbanksinTurkeywasrecordedatover596.7million.Savingdepositsaccountedforthemajorityofdepositaccounts,reachingalmost270millionaccountsin2022.

ReadmoreNote(s):Turkey;December31,2022Source(s):TheBanksAssociationofTurkeyAnnualdepositinterestrate*inTurkeyfrom2013to2022AnnualdepositinterestrateinTurkeyfrom2013-202230%27.04%25.41%25%23.28%20.7%20%15%10%5%16.93%15.3%15.29%14.92%14.61%13.36%0%201320142015201620172018201920202021202239Description:ThedepositinterestrateinTurkeyincreasedby6.3percentagepoints(+30.43percent)in2022incomparisontothepreviousyear.Therefore,thedepositinterestrateinTurkeyreachedapeakin2022with27.04percent.

ReadmoreNote(s):Turkey;2013to2022Source(s):WorldBankAverageinterestrateforhousingbankloansinTurkeyfromJune2015toMarch2024AverageinterestrateforhomeloansinTurkey2015-202450%45%40%35%30%25%20%15%10%5%40Description:TheweightedaverageinterestratesofhousingbankloansinTurkeyfluctuatedduringtheperiodfromJune2015toMarch2024.ThehighestaverageinterestratewasseeninthelastweekofMarch2024andamountedtoover43.53percent.

ReadmoreNote(s):June2015toMarch2024;*Figuresdisplayedaretakenfromthelastweekofeachmonthandareaweightedaverage.

Releasedateisthedayofaccess.

ReadmoreSource(s):CBRTValueofconsumerloansgrantedbybanksinTurkeyfromJanuary2019toFebruary2024(inbillionTurkishlira)MonthlyvalueofconsumerloansgrantedbybanksinTurkey2019-2024ShorttermMedium-longterm1,8001,6001,4001,2001,0008006004002000Jan

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Jan201920192019201920192019202020202020202020202020202120212021202120212021202220222022202220222022202320232023202320232023202441Description:ThemonthlyvalueofconsumerloansgrantedbybanksinTurkeygenerallyfollowedanincreasingtrendfromJanuary2019toFebruary2024.InFebruary2024,thevalueofshort-termconsumerloansamountedtonearly461billionTurkishlira,whereasmediumtolong-termloansreached1.12trillionTurkishlira.ReadmoreNote(s):Turkey;January2019toFebruary2024Source(s):BankingRegulationAndSupervisionAgencyAnnualaverageinterestrateonnewresidentialloansinTurkeyfrom2007to2022AnnualaverageinterestrateonnewmortgageloansinTurkey2007-202220.5%19.3%18.63%18.3%18.2%18.5%16.5%14.5%12.5%10.5%8.5%17.8%17.8%15.6%13.25%12.5%202012.37%12.31%12.14%201711.86%201411.59%201111.05%20109.69%2013200720082009201220152016201820192021202242Description:TheannualaverageinterestrateonnewresidentialloansinTurkeyfluctuatedsignificantlybetween2007and2022.In2022,theannualaverageinterestrateamountedto18.2percent.Thehighestrecordedaverageinte