CarthagoTurkish banking dataNominal credit grew 36.4%. Strip the lira and the price level and the loan book shrank 2.1%.
Of that print, +7.1pp is lira depreciation revaluing the FX book and +31.4pp is inflation (CPI 32.1%). What remains is real volume — negative for 10w running.
real_fxadj = (1 + fx_adjusted) ÷ (1 + cpi_yoy) − 1 · FX book held at the base week's USD/TRY and proxied as all-USD
Real, constant-FX credit is contracting — -2.1% for 10 consecutive weeks. The 35.3% nominal print is lira and CPI.real_fxadj(52w) < 0 for 10w
Auto loans in sustained contraction — -27.4%, negative for 97 consecutive weeks. The book is small (₺41bn), so it drags the headline by little.auto_yoy < 0 for 97w
Unsecured retail is running above the sector — cards 44.1% and general-purpose 44.5% vs 35.3%, for 93 consecutive weeks. Watch it in /asset-quality.cards_yoy > sector AND gpl_yoy > sector for 93w
The 35.3% loan-growth print is mostly lira and inflation: in real, constant-FX terms the book shrank 2.1%, with state banks leading the cycle.
| Metric | 13w ago | Now | Δ |
|---|---|---|---|
| Auto | -29.4% | -27.4% | +2.0pp |
| Housing | 35.9% | 37.2% | +1.3pp |
| SME | 47.5% | 48.7% | +1.2pp |
| Commercial | 38.2% | 33.1% | −5.0pp |
| Gen. purpose | 50.6% | 44.5% | −6.0pp |
| Retail cards | 52.7% | 44.1% | −8.6pp |
The three prints of the same book on one axis. Nominal is where the reader starts; the composed line is what the book actually did.
Chart data: 98 rows, Period from 2024-08-02 to 2026-07-17. Nominal: 37.32 at the start, 35.32 at the end, ranging 35.32 to 44.45. FX-adjusted: 27.19 at the start, 28.24 at the end, ranging 27.19 to 34.95. Real, constant FX: -16.31 at the start, -2.13 at the end, ranging -16.31 to 3.29. The full data is available from this chart's CSV download.
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. Sector: 30.04 at the start, 29.38 at the end, ranging 10.7 to 83.88. The full data is available from this chart's CSV download.
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. Nominal (y/y): 37.32 at the start, 35.32 at the end, ranging 35.32 to 44.45. Real (CPI-deflated): -9.64 at the start, 3.28 at the end, ranging -9.64 to 10.56. The full data is available from this chart's CSV download.
The clearest sector signal — who is driving the lending cycle, and in which currency.
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. Sector: 37.32 at the start, 35.32 at the end, ranging 35.32 to 44.45. State: 24.47 at the start, 35.09 at the end, ranging 24.47 to 44.54. Domestic: 52.6 at the start, 34.48 at the end, ranging 34.48 to 56.49. Foreign: 41.51 at the start, 35.27 at the end, ranging 35.27 to 46.4. Participation: 32.65 at the start, 38.09 at the end, ranging 29.94 to 55.01. Dev & Inv: 51.2 at the start, 36.79 at the end, ranging 36.79 to 57.38. The full data is available from this chart's CSV download.
Chart data: 5 rows, Group from Participation to Domestic. Value: 38.09 at the start, 34.48 at the end, ranging 34.48 to 38.09. The full data follows as a table.
| Group | Value |
|---|---|
| Participation | 38.09058207907843 |
| Dev & Inv | 36.789536368075446 |
| Foreign | 35.26981977798083 |
| State | 35.08882206784287 |
| Domestic | 34.482156939924934 |
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. State: 24.47 at the start, 35.09 at the end, ranging 24.47 to 44.54. Private: 52.6 at the start, 34.48 at the end, ranging 34.48 to 56.49. The full data is available from this chart's CSV download.
The composition behind the attribution bars — Retail Cards & Gen. Purpose lead the consumer book.
Chart data: 154 rows, Period from 2023-08-11 to 2026-07-17. Housing: 444954 at the start, 808124 at the end, ranging 436635 to 808124. Auto: 86833 at the start, 41429 at the end, ranging 41429 to 95807. Gen. Purpose: 889946 at the start, 2521489 at the end, ranging 886974 to 2545668. Retail Cards: 871990 at the start, 3227934 at the end, ranging 865267 to 3287292. The full data is available from this chart's CSV download.
Chart data: 154 rows, Period from 2023-08-11 to 2026-07-17. Housing: 444954 at the start, 808124 at the end, ranging 436635 to 808124. Auto: 86833 at the start, 41429 at the end, ranging 41429 to 95807. Gen. Purpose: 889946 at the start, 2521489 at the end, ranging 886974 to 2545668. Retail Cards: 871990 at the start, 3227934 at the end, ranging 865267 to 3287292. The full data is available from this chart's CSV download.
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. Housing: 1.8 at the start, 37.22 at the end, ranging 1.8 to 37.32. Auto: -2.09 at the start, -27.4 at the end, ranging -36.27 to -2.09. Gen. Purpose: 38.33 at the start, 44.53 at the end, ranging 38.17 to 54.07. Retail Cards: 75.44 at the start, 44.06 at the end, ranging 41.54 to 75.44. The full data is available from this chart's CSV download.
+12.0pp of the headline. SME is a SUBSET of the commercial book, not a peer — the two lines below are not additive.
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. Sector: 28.64 at the start, 48.67 at the end, ranging 28.64 to 51.41. State: 16.89 at the start, 45.18 at the end, ranging 16.41 to 47.58. Private: 55.69 at the start, 53.2 at the end, ranging 33.31 to 59.94. The full data is available from this chart's CSV download.
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. SME: 28.64 at the start, 48.67 at the end, ranging 28.64 to 51.41. Commercial (incl. corp.): 35.47 at the start, 33.13 at the end, ranging 33.13 to 43.18. The full data is available from this chart's CSV download.
Chart data: 154 rows, Period from 2023-08-11 to 2026-07-17. SME: 2860430 at the start, 7270264 at the end, ranging 2860430 to 7270264. The full data is available from this chart's CSV download.
Chart data: 37 rows, Period from 2023-06 to 2026-06. Micro: 899429 at the start, 1902340 at the end, ranging 895956 to 1902340. Small: 924778 at the start, 1894936 at the end, ranging 924778 to 1894936. Medium: 1007468 at the start, 3456289 at the end, ranging 1007468 to 3456289. The full data follows as a table.
| Period | Micro | Small | Medium |
|---|---|---|---|
| 2023-06 | 899429 | 924778 | 1007468 |
| 2023-07 | 895956 | 928759 | 1043453 |
| 2023-08 | 905375 | 934098 | 1071494 |
| 2023-09 | 911950 | 947689 | 1123472 |
| 2023-10 | 918845 | 967511 | 1158659 |
| 2023-11 | 944388 | 995309 | 1191077 |
| 2023-12 | 973813 | 1017867 | 1214981 |
| 2024-01 | 1002737 | 1045116 | 1247506 |
| 2024-02 | 1045657 | 1092748 | 1295335 |
| 2024-03 | 1102823 | 1136476 | 1364759 |
| 2024-04 | 1088571 | 1140744 | 1355152 |
| 2024-05 | 1086427 | 1113395 | 1469205 |
| 2024-06 | 1082807 | 1119758 | 1505041 |
| 2024-07 | 1101371 | 1126537 | 1520958 |
| 2024-08 | 1125517 | 1170599 | 1562115 |
| 2024-09 | 1157146 | 1197525 | 1641607 |
| 2024-10 | 1180890 | 1212401 | 1659207 |
| 2024-11 | 1225986 | 1235719 | 1693227 |
| 2024-12 | 1289409 | 1277574 | 1718675 |
| 2025-01 | 1303270 | 1305881 | 1786152 |
| 2025-02 | 1316093 | 1387343 | 1853159 |
| 2025-03 | 1364845 | 1438108 | 1922737 |
| 2025-04 | 1391820 | 1449545 | 2075710 |
| 2025-05 | 1360852 | 1382367 | 1991937 |
| 2025-06 | 1375553 | 1414771 | 2074310 |
| 2025-07 | 1389798 | 1451826 | 2128191 |
| 2025-08 | 1436340 | 1485459 | 2477740 |
| 2025-09 | 1480064 | 1527932 | 2611337 |
| 2025-10 | 1516099 | 1573012 | 2692827 |
| 2025-11 | 1574498 | 1621642 | 2777927 |
| 2025-12 | 1665451 | 1683295 | 2869332 |
| 2026-01 | 1706631 | 1707495 | 2919396 |
| 2026-02 | 1765438 | 1775808 | 3038500 |
| 2026-03 | 1830424 | 1824923 | 3132959 |
| 2026-04 | 1872497 | 1891313 | 3243087 |
| 2026-05 | 1866179 | 1846742 | 3313703 |
| 2026-06 | 1902340 | 1894936 | 3456289 |
| Medium | ₺3456bn | +₺1382bn |
Chart data: 154 rows, Period from 2023-08-11 to 2026-07-17. FX share: 33.08 at the start, 36.32 at the end, ranging 32.14 to 39.03. The full data is available from this chart's CSV download.
Chart data: 97 rows, Period from 2024-08-09 to 2026-07-17. State: 10.54 at the start, 38.26 at the end, ranging 9.57 to 41.94. Private: 53.88 at the start, 39 at the end, ranging 28.49 to 53.97. The full data is available from this chart's CSV download.
Chart data: 37 rows, Period from 2023-06 to 2026-06. Retail Cards: 793774 at the start, 3299394 at the end, ranging 793774 to 3299394. Corporate Cards: 342407 at the start, 1040712 at the end, ranging 342407 to 1040712. The full data follows as a table.
| Period | Retail Cards | Corporate Cards |
|---|---|---|
| 2023-06 | 793774 | 342407 |
| 2023-07 | 856990 | 347473 |
| 2023-08 | 924236 | 352875 |
| 2023-09 | 975811 | 360159 |
| 2023-10 | 1011616 | 365485 |
| 2023-11 | 1080475 | 382588 |
| 2023-12 | 1185215 | 417880 |
| 2024-01 | 1250085 | 430999 |
| 2024-02 | 1315150 | 452474 |
| 2024-03 | 1411567 | 492305 |
| 2024-04 | 1420818 | 485107 |
| 2024-05 | 1454521 | 511577 |
| 2024-06 | 1498704 | 511412 |
| 2024-07 | 1545480 | 526696 |
| 2024-08 | 1613483 | 535074 |
| 2024-09 | 1650239 | 547094 |
| 2024-10 | 1684517 | 551751 |
| 2024-11 | 1767795 | 570581 |
| 2024-12 | 1855121 | 606890 |
| 2025-01 | 1908423 | 591410 |
| 2025-02 | 1925882 | 588356 |
| 2025-03 | 1994269 | 614576 |
| 2025-04 | 2070799 | 639686 |
| 2025-05 | 2207054 | 682826 |
| 2025-06 | 2256655 | 674647 |
| 2025-07 | 2388865 | 708945 |
| 2025-08 | 2491732 | 744032 |
| 2025-09 | 2547853 | 762790 |
| 2025-10 | 2591517 | 778974 |
| 2025-11 | 2704057 | 826006 |
| 2025-12 | 2804381 | 872513 |
| 2026-01 | 2891668 | 852337 |
| 2026-02 | 2936225 | 898364 |
| 2026-03 | 3032396 | 900369 |
| 2026-04 | 3110039 | 964764 |
| 2026-05 | 3255590 | 1006886 |
| 2026-06 | 3299394 | 1040712 |
Chart data: 154 rows, Period from 2023-08-11 to 2026-07-17. State: 1370600 at the start, 3106562 at the end, ranging 1370600 to 3111504. Private: 523096 at the start, 1763535 at the end, ranging 523096 to 1765418. The full data is available from this chart's CSV download.
| Micro | ₺1902bn | +₺527bn |
| Small | ₺1895bn | +₺480bn |