Loans

7/20/2020

The Amount of Commercial Credits Provided in May is Recorded as TL 2.6 Trillion

According to the report released by the Banks Association of Turkey (TBB) Risk Center, commercial credits increased by 23 percent in April. Total amount of loans provided to the construction sector is recorded as TL 272 billion; also the highest proportion of receivables to be liquidated is represented by the construction sector at a rate of 10.4%...

According to the report released by the Banks Association of Turkey (TBB) Risk Center, cash credits provided by TBB member institutions reached TL 3 trillion 311 billion in May 2020 increasing by 23 percent compared to the same month of the previous year. TL 3 trillion 216 billion of cash credits was provided by banks, TL 51 billion by leasing companies, TL 23 billion by factoring firms and TL 21 billion by finance institutions.

Receivables to be liquidated are recorded as TL 184 billion as of the end of May 2020. The proportion of receivables to be liquidated within the overall loan amount reached 5.3 percent increasing by 0.7 points compared to the same month of the previous year. An amount of TL 174 billion within the total receivables to be liquidated is claimed by banks, TL 5.4 billion by leasing companies, TL 2.6 billion by factoring companies and TL 2 billion by finance institutions.

Commercial credits increased by 23 percent in May

Commercial credits are recorded as TL 2 trillion 632 billion in May increasing by 23 percent. Sectors for which commercial credits are provided are listed as follows respectively: Manufacturing Industry TL 755 billion (29% of total credits); Wholesale and Retail Trade TL 456 billion (17%); Construction TL 272 billion (10%); Energy TL 239 billion (9%); Transportation, Logistics and Communication TL 215 billion (8%); Real Estate TL 187 billion (7%); Tourism TL 118 billion (5%); and Agriculture TL 110 billion (4%).

The sector with the highest proportion of receivables to be liquidated as of May 2020 has been the construction industry with 10.4 percent followed by the tourism sector with 8.1 percent.