Total deposits in the banking sector increased rapidly in September
Following the fund crisis in Turkey, notable mobility was recorded in banking sector deposit data, with a significant increase occurring over two weeks.
Following the fund crisis in Turkey, notable mobility was experienced in deposit data. During the two-week period in September, the total deposits of the banking sector increased by 545.3 billion TL.
Changes in July and August
The total deposits of the banking sector increased by approximately 745 billion TL in July. In August, the increase gained momentum and reached approximately 1.34 trillion TL.
Slowdown Observed at the End of August
A noticeable slowdown was recorded in total deposit growth in the last week of August. While total deposits increased by approximately 406.3 billion TL in the week of August 14-21, they rose by only 70.4 billion TL in the week of August 21-28.
As a result of this situation, weekly deposit growth decreased by 335.9 billion TL, experiencing a decline of 82.7 percent.
Mobility Accelerating Again in September
Following the sharp slowdown at the end of August, deposit movement regained momentum in September, and as of September 11, total deposits were recorded at approximately 33.46 trillion TL.
Total Increase in the Two-Week Period
While total deposits rose to 33.89 trillion TL on September 18, an increase of 434.9 billion TL occurred in just one week, reaching a total level of 34 trillion 2 billion TL on September 25.
Experts' Evaluations on the Subject
Experts point out that there is not yet sufficient data to say that the increase seen in deposits stems directly from funds exiting the fund crisis.