Companies step hard on the brakes on credit

Banking According to industry data, the growth rate of total credit has lost momentum since June, when the new economic administration came to power. According to data from the Banking Regulation and Supervision Agency (BDDK), the total credit of the Turkish banking sector increased by 12.3 percent in the first quarter of 2023 and 17.5 percent in the second quarter, while the rate Growth slowed to 7 percent in the third. room. Thus, at the end of September, total loans in the sector reached 10 trillion 709 million TL.

CONCRIPTION IN THREE SECTORS

According to the calculation made from the set of sectoral credit data announced by BRSA, the sector that braked lending the most was the “maritime” sector. The volume of loans extended by banks to the maritime sector decreased by 24 percent in the third quarter of 2023. The volume of loans from the maritime sector increased by 7 percent in the first quarter, when interest rates remained low, and 72 percent in the second quarter. Total loans extended by banks to “financial institutions” also decreased by 1.05 percent in the third quarter. Loans granted to the “tourism” sector also stagnated with a contraction of 0.1 percent in the third quarter. In the third quarter, the growth rate of loans issued to the “construction” sector decreased to 5 percent, and the growth rate of loans issued to the “food, beverage and tobacco” sector decreased to 6.5 percent. hundred. The growth rate of sectoral loans decreased to 6.2 percent in “textile”, 6.09 percent in “processed metals and minerals” and 4.4 percent in “energy”. Until September, the “wholesale trade and brokerage” sector bears the largest credit burden with 803.2 billion lira, while “construction” is in second place with a credit debt of 733.2 billion lira. The “Energy” sector has credit obligations to banks worth 675.1 billion lira at the end of September.

Loans for imports fell by 4.3 percent

According to BRSA data, the growth rate of export credit, which was 14.6 percent in the first quarter of the year and 21.4 percent in the second quarter, fell to 14.9 percent in the third trimester. Regarding import credits, the growth rate in the first two quarters, which was 12.6 percent and 10 percent respectively, gave way to a contraction of 4.3 percent in the third quarter. The growth rate of commercial loans, which reached a growth rate of 7.8 percent in the first three months of the year and 11.7 percent in the second three months, decreased to 4.6 percent in the third trimester. A similar development was seen in commercial installment loans, resulting in growth in the third quarter.
The rate decreased to 4.3 percent.