Changes Observed in Consumer and Commercial Loan Growth in the Second Half of the Year
While a significant loss of momentum was experienced in commercial and consumer loans in the second half of the year, the gap in growth rates also closed.
While the slowdown trend observed in commercial and consumer loans continued in the second half of the year, as of September 25, the annualized growth rate of consumer loans fell to 14.3 percent.
Decline in Consumer Loans
According to 13-week annualized and exchange rate-adjusted data, the high momentum at the beginning of the year later gave way to a decline.
The consumer loan growth rate, which peaked at 62.5 percent in January, fell to 40.9 percent in July.
As of September 25, this rate dropped to 14.3 percent, recording a total decrease of 48.2 points compared to the beginning of the year.
Course of Commercial Loans
Similarly, a downward movement was observed in commercial loan growth after the peak points at the beginning of the year.
Commercial loan growth, which peaked at 32.1 percent in March, receded to 16.1 percent in July.
As of September 25, the growth rate in commercial loans rose to 21.4 percent with a partial recovery.
Change in the Growth Gap
Current data revealed that the growth gap, which was in favor of consumer loans at the beginning of the year, completely reversed by the end of the third quarter.
By the end of September, it was observed that the commercial loan growth rate exceeded that of consumer loans.