General Secretary of the Turkish Banks Association, Keskin: ‘Compared to March 2016, January 2017 period when the CBRT lowered interest rates, housing interests were down 300 basis points and commercial loan interest rates were down 340 basis points.’ said.
Housing Loan Interest Fell By 300 Basis Points
Ekrem Keskin, General Secretary of the Turkish Banking Association, said that the interest rate rises in the US and the lower level of capital inflow to developing countries are a decisive factor in the meeting held with the participation of the bank general managers of the Board of Directors of the Bank Banks Association of Turkey.
“Decline In Interest Rates On Loans Depended On Falling Deposit Costs”
Ekrem Keskin stated that the CBRT tried to relieve the liquidity problem experienced with the slowing of capital inflow by providing significant TL liquidity to the markets. “However, the increase in interest rates in the US and the strong demand in the dollar caused this TL liquidity to generate more foreign currency demand ” said.
“We Expect Credit Growth To Be 15 Percent In 2017“
Keskin, the following evaluations of the 2017 anticipations were found: “There is a more stable period in the money markets, and the government’s decision to keep its credit lines open and support economic activity comes after it, which is a very positive course. We expect the loans to increase by 15 percent in 2017, 13 percent in total assets, 13 percent in deposits and 12 percent in equity. ” said.
Keskin stated that the uncertainty is lower than in 2016 and that the risks are at a more computable level for both the banks and the customers. Keskin continues to be a significant constraint on the internal resources required for growth, as most of the developing countries have capital outflows, and that growth of national income is below the potential growth rate.