Turkey banking sector sees KKM deposits plunge and credit card usage shift

Turkey's banking sector is experiencing significant shifts in deposit and credit structures. According to data from the Banking Regulation and Supervision Agency (BDDK), the balance of Currency Protected Deposits (KKM) has plummeted by approximately 97.5% in just two weeks, falling from 157 billion TL to just 4 billion TL.

Simultaneously, the total credit volume in the banking sector has grown, reaching 27.7 trillion TL. Consumer loans have risen to 3.45 trillion TL, while individual credit card receivables have increased to 3.43 trillion TL.

Data from the Interbank Card Center (BKM) indicates a change in consumer spending patterns due to monetary tightening and high interest rates. Households are increasingly using credit cards to cover essential costs such as food and taxes rather than luxury or technology items. Public payments, including taxes and administrative fines, saw a 104% increase in transaction value, reaching 1.57 trillion TL, as citizens use credit to manage mandatory obligations.