The Central Bank of the Republic of Türkiye (CBRT) reported a significant increase in its reserves, with a rise of $2.68 billion, bringing the total to $152.9 billion as of the latest weekly statistics.

According to the CBRT's announcement on weekly money and banking statistics, gold reserves increased to $58.77 billion, while foreign exchange reserves grew to $94.15 billion, resulting in a total reserve of $152.9 billion. This marks a $2.68 billion increase in reserves within a one-week period.

During the same period, foreign investors showed strong interest in Turkish bonds, purchasing $1.41 billion worth, marking the fastest bond purchase in the last six months.

The Central Bank's Currency Reserve Ratio (CCR) also experienced a shift, dropping below 10% of total deposits. According to the weekly bulletin from the Banking Regulation and Supervision Agency (BRSA), the sector's loan volume saw an increase of TRY 47.64 billion, reaching TRY 14.29 trillion as of August 16.

Additionally, total deposits in the banking sector, including interbank deposits, increased by TRY 332.13 billion, reaching TRY 17.29 trillion.

Consumer loans, however, saw a slight decrease, falling by TRY 6.48 billion to a total of TRY 1.76 trillion. This includes TRY 453.79 billion in housing loans, TRY 83.26 billion in vehicle loans, and TRY 1.23 trillion in personal loans.

On the other hand, the volume of commercial loans with installments increased by TRY 14.15 billion, reaching TRY 1.79 trillion. Meanwhile, individual credit card receivables of banks decreased by 1.7%, amounting to TRY 1.50 trillion, with TRY 530.62 billion as installment debts and TRY 973.25 billion as non-installment debts.

As of August 16, non-performing loans in the banking sector increased by TRY 2.40 billion compared to the previous week, reaching TRY 249.31 billion. Special provisions have been allocated for TRY 186.81 billion of these non-performing loans.

This financial update reflects the ongoing fluctuations and developments in Türkiye's banking sector, underscoring the dynamic nature of the country's economic landscape. (ILKHA)