A record increase in the use of consumer credit despite rising interest rates

The increase in interest rates did not prevent citizens from borrowing. While the highest growth was experienced in consumer loans, the total balance reached 401.2 billion TL and broke the record.

The total balance of consumer loans reached 691.8 billion pounds, according to the “banking sector consumer loans and credit card development” data included in the report of the Strategic and Budget Administration, which reflects the weekly developments in the economy and the overall picture. The total balance on personal credit cards was 154.7 billion pounds.

According to Mustafa Cakir of the Republic, while looking at the development of consumer credit types in the banking sector, housing, vehicle and consumer loan requirements continued despite the increase in interest rates.

The highest level since 2002

On March 26, housing loans reached 276.8 billion pounds, the total balance of housing loans rose to 277 billion pounds, transport loans rose from 13.3 billion pounds to 13.6 billion pounds, consumer loans rose from 399.9 billion pounds to 401.2 billion pounds.

Consumer loans have reached this level for the first time since the AKP came to power in 2002.

Tracking of receivables is increasing

The report also included the rates that the banking sector will receive consumer loans and individual credit cards. According to the table, as of April 2, this ratio was 3.8 percent in total loans, 1.7 percent in consumer loans and 3.2 percent in individual credit cards.

As of January, the number of real people who did not pay their debts was 41,838 on consumer loans, 40,663 on individual credit cards, and 73,380 on consumer and / or individual credit cards. The number of debtors who are legally controlled and still under legal prosecution is 2.3 million consumer loans as of January. 2.4 million people on personal credit cards. 3.4 million people have consumer credit and / or individual credit cards.

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