The Banking Regulation and Supervision Agency (BDDK) has granted citizens affected by the earthquakes in Kahramanmaraş a 6-month maturity period for all existing and new loans. According to Minister of Treasury and Finance Nabati, even more assistance will be provided on these debts – amounting to an extraordinary 696 billion 958 million liras across 10 provinces. An astonishing 67% of all loan obligations, which includes non-performing loans, can be traced to the provinces of Gaziantep, Adana, and Hatay. In ten distinct areas alone, there exists a total debt burden amounting to 17 billion 972 million liras in bad loans.
Individual Debt’s 108 Billion TL
BRSA Fintürk data reveals that as of 2022, 10 provinces affected by the earthquake have a total consumer loan debt of TL 108 billion 393 million. This encompasses 4.8 billion liras in vehicle loans, 32.8 billion liras for housing purposes, 63 billion liras for purchasing goods and services, and an additional 7.7 billion owed to overdraft accounts, respectively. Companies across these provinces have accumulated a staggering 570 billion 592 million liras in loan debt. Of that amount, 14 billion 18 million is labeled as non-performing loans for businesses, whereas a startling 3 billion 953 million is owed to individuals and categorized as bad loans by the banks.
Credit Card Debt is Close to 51 Billion Dollars
Retail credit card debt has climbed dramatically due to the economic crisis and inflation, totaling 50 billion 869 million liras across 10 provinces. Adana leads this list with 12.4 billion in card debt, followed closely by Gaziantep (8.9) and Hatay (6.8). But when it comes to consumer loan debt, Adana takes first place again at 15.3 billion liras; its inhabitants of Gaziantep have a total of 10.6 billion in loans, while residents of Hatay possess 9.3billion in such debts
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