As the first quarter of the year concludes, comparison site encazip.com researched the loan borrowings during this period.
Consumer loans and individual credit cards continued to be used in the first quarter of the new year. Interest rates increased, but citizens continued to borrow.
According to BRSA data, consumer loans increased by 2024 percent in the first quarter of 27,59 compared to last year. Of these, 445 billion TL was housing, 93 billion TL was vehicle loans, and 1.086 trillion TL was consumer loans. There was also an increase in individual credit cards in the first quarter of the year compared to the previous year. Accordingly, personal credit card use increased by 138,54 percent in the first three months of the year compared to last year.
CORPORATE CREDIT CARD BORROWINGS INCREASED
In addition to consumer loans and individual credit cards, there was an increase in installment commercial loans and corporate credit cards in the first quarter of the year compared to the previous year. While commercial installment loans increased by 52,39 percent in the first three months of the year compared to the previous year, corporate credit cards increased by 78,96 percent. Accordingly, installment commercial loan usage was 1.593 trillion TL, and corporate credit card borrowing was 484 billion TL.
"“CREDIT CARDS REPLACED NEED LOANS”
Evaluating the data in question, encazip.com founder and savings expert Çağada Kırım stated that when we look at the loan breakdowns, they see that the growth comes from the consumer, especially from credit cards, and said, "Because of the interest rate increases of the Central Bank, both loan interest rates have increased and banks are now making more money when giving loans." He started to become selective. This has led consumers to spend on credit cards, a type of credit that is always available to them. "Although there has been a decrease in the credit card borrowing rate compared to last year, thanks to the measures taken, the fact that the item that increased the most is installment and non-installment credit card expenses shows us that credit cards have replaced consumer loans," he said.
