President of the Association of Banks: There is no shortage of loans granted to the real sector

Alpaslan Çakar, president of the Turkish Banking Association (TBB), said: “It is not correct to say that there is a lack of credit given by the banking sector to the real sector.”

“In 2022, the credit growth of the banking sector is TL 2.6 trillion. Çakar said: “We have provided TL 1.7 trillion of loans to the real sector,” Çakar said. Credit granted to the real sector increased by 93 percent. The increase in SME credits is at the level of 104 percent, ”he said.

ISO PRESIDENT SAID ‘It has reached the point of intimidation’

Çakar, who participated in the Bloomberg HT broadcast, also attended the ISO January assembly meeting yesterday; At this meeting, ICI President Erdal Bahçıvan said: “The credit procedures, which bring the real sector to the point of intimidation, are endless, and the activation of the loan cannot be done somehow.”

‘INFLATION DISTURBS THE PRICE MECHANISM’

Çakar explained that while interest rate increases are being made to reduce inflation in the world, Turkey’s interest rate cuts are ‘a preference for economic growth’.

Notable statements in the speech by Çakar, who is also the General Manager of Ziraat Bank, are as follows:

* Inflation causes a serious deterioration in the price mechanism. In local currency, the creditor loses and the debtor wins. It means capital transfer. It is important to develop mechanisms to protect fixed income.

INFLATION ASSESSMENT

* It is very important that the current account balance is sustainable. The basis of inflation in Turkey has always been the current account deficit.

* First, we need to increase supply and develop policies to manage the current account deficit.

* I think inflation will reach a manageable level.

* 70% of the Treasury’s indebtedness is covered by the banking sector.

* We do not have a bank in urgent need of capital.