Turkey's household debt hits record, 7 of 8 adults owe banks

Economist Prof. Dr. Davut Pehlivanlı cites data from the Turkey Banks Association’s Risk Center showing that 44.2 million people – roughly 51 % of the adult population – are in debt to banks. The total outstanding household debt exceeds 6.5 trillion Turkish lira, with an average of about 148 thousand lira per debtor.

The composition of debt has shifted: credit‑card balances and overdraft accounts now account for about 63 % of total borrowing, while traditional mortgage and vehicle loans have declined. Non‑performing loan ratios have risen sharply over the past two‑and‑a‑half years, especially in credit‑card, consumer‑loan and overdraft categories, suggesting that many households are using credit to cover daily expenses rather than investment.