Personal credit card spending in Istanbul increased by 55.9% compared to the previous year Author iDealData


© Reuters. Personal credit card spending in Istanbul increased by 55.9% compared to the previous year

The “Financial Markets, May 2021” report of the Istanbul Statistics Office affiliated to the Istanbul Metropolitan Municipality has been published. Details of the report are as follows:

By the end of March 2021, personal credit card expenditures increased by 55.9% in Istanbul and 35.6% in Turkey compared to the previous year.

In Istanbul, where 33.6% of total personal credit card expenditures in Turkey are realized, at the end of March 2021, expenses increased by 55.9% compared to the same period of the previous year and reached 52 billion TL. In the same period, total personal credit card expenditures in Turkey increased by 35.6% and exceeded 155 billion TL.

Loan utilization in Istanbul increased by 29.8% by the end of March 2021.

Credit utilization in Istanbul increased by 29.8% as of March 2021 compared to the same period of the previous year. The amount of cash loans per capita in Istanbul increased by 30.3% compared to the previous year and reached 95,775 TL. Istanbul, where 39.2% of the cash loans in Turkey were used, was the province with the highest cash loans per capita, followed by Ankara, Denizli, Antalya and Kocaeli, respectively.

As of March 2021, 44% of the NPLs occurred in Istanbul.

As of March 2020, 40.5% of non-performing loans were in Istanbul, while this ratio increased to 44% as of March 2021. During this period, non-performing loans increased by 7.3% in Istanbul compared to the same period of the previous year and decreased by 1.3% throughout Turkey. While the average NPL per capita in Istanbul was 4,259 in March 2021, it was 1,763 TL across Turkey.

The amount of savings deposits in Istanbul increased by 29.3% and gold deposits by 73.1% in March 2021 compared to the same period of the previous year.

Saving deposits, which were 660 billion TL as of the end of March 2020, increased by 29.3% in the same period of 2021 and exceeded 852 billion TL. The amount of savings deposits per capita in Istanbul increased by 29.7% in March 2021 to 55 thousand 162 TL, while total deposits per person reached 100 thousand 151 TL. In Turkey, the amount of savings deposits per capita was 24 thousand 508 TL, lagging behind Istanbul. In total gold deposits, while there were 117 tons of gold equivalent deposits in the same period of the previous year, the value held in banks increased to 203 tons as of the end of March 2021.

Vehicle loans used in Istanbul increased by 92% compared to the same period of the previous year.

In March 2021, compared to the same period of the previous year, vehicle loans used in Istanbul increased by 92%, consumer loans by 38.2% and housing loans by 31.5%. 51.2% of the loans used in Istanbul were consumer loans, 46.1% housing loans and 2.7% vehicle loans. In Turkey, compared to the same period of the previous year, the use of vehicle loans increased by 91.6%, consumer loans increased by 37.4% and housing loans increased by 31.1%.

90.3% of the loans used in financial institutions are in Istanbul.

As of March 2021, the sector in which Istanbul had the highest share in loan utilization was financial institutions with 90.3%, followed by the construction sector with 51.2% share. Loans used in terms of sectors in Istanbul are 38.6% in financial institutions, 32.9% in food, soft drinks and tobacco, 32.9% in tourism, 28.1% in wholesale trade and brokerage, compared to the same period of the previous year. It increased 26% and 20.4% in the field of textiles and textile products.

-iDeal News Center-

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