TODAY’S – 15 million Turks hold total of TL 252 billion in loans

15 million Turks hold total of TL 252 billion in loans15.6 million Turks held a total of TL 252 billion in consumer credit and mortgage loans as of September of this year, according to a recently released report from the Turkish Banks Association (TBB).

This figure increased 8 percent on a year-to-year basis and 11 percent compared to June. Between the months of July and September, 29 million people took out a total of TL 41.

9 billion in consumer credit and mortgage loans. This was a 10 percent increase in the number of those holding loans compared to the July-September period of 2013.

The the total amount of the loans marked a 17 percent increase compared to the prior three month period and a 14 percent increase on a year-to-year basis.Fifty-four percent of loans taken out during the July-September period were consumer loans, 25 percent were mortange loans and 16 percent fell in the andldquootherandrdquo category.

The most common term of repayment for the loans taken out in this period was the 25-36 month option.

SOURCE: Today’s Zaman