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Turkey: The deposits of the banking sector increase

by tarimendeksi

According to the weekly data of the Central Bank of the Republic of Turkey, total foreign currency deposits decreased by 126 million dollars in the week of April 29, adjusted for the parity effect. Compared to the previous week, foreign currency deposits of real persons increased by 86 million dollars, while foreign currency deposits of legal entities decreased by 212 million dollars.

 

Total deposits in the banking sector (including between banks) increased by 35 billion 492 million 715 thousand liras in the week ended April 29 and rose to 6 trillion 328 billion 113 million 48 thousand liras. In the same period, TRY deposits in banks increased by 1.11% to 2 trillion 638 billion 942 million 122 thousand liras, and foreign currency (FX) deposits decreased by 0.25% to 3 trillion 431 billion 164 million 2 thousand liras. Last week, while the total foreign currency deposits in banks were 241 billion 495 million dollars, 213 billion 809 million dollars of this was collected in the accounts of residents.

 

At the current level, we will continue to follow the trends in the FX-linked product focused on dollarization, reserve cumulation and financial stability. In the BRSA data, we see that as of the week of April 29, there is a FX-linked deposit accumulation of 810.32 billion TRY. In addition, although a breakdown of FX and TRY accounts has not been published, we consider this distinction as 55% conversion from FX to TRY and 45% direct TRY account opening in line with the statements of the Ministry of Treasury and Finance. The financial dollarization rate is at 55.01% as of the week of April 29, we see a slight decrease from the rate that was 55.33% in the previous week. This rate was at the level of 54.9% in the same period of the previous year.

Kaynak Tera Yatırım
Hibya Haber Ajansı

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