Deposits in Turkish banks fall behind loans in the first half
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Hurriyet English
Oluşturulma Tarihi: Ağustos 21, 2008 11:00
Turkish companies have kept growing and increasing their profit margins as the estimated losses of the world's financial sector giants surpassed $500 billion in the first half of the year.
Haberin Devamı
Loan amounts of 15 banks traded on the Istanbul Stock Exchange increased 21 percent, while their deposits rose 14 percent in the first six months, Turkish Daily News (TDN) reported on Thursday.
Competition among the banks in terms of loans resulted in some banks' loan volumes surpassing their deposit amounts.
However the banks prefer to raise their loan amounts by taking loans from abroad due to the recent spike in interest rates.