Turkish banks' subordinated debt up by 86%
Baku, Azerbaijan, Aug. 26
By Eldar Janashvili – Trend:
According to the results of the first half of 2019, the volume of liabilities in Turkish banks amounted to 3.784 trillion liras, which is 15.5 percent more than in the first half of 2018, Trend reports referring to data provided by the Banking Regulation and Supervision Authority of Turkey.
Despite that the volume of obligations in national currency increased by 7.3 percent and amounted to 1.564 trillion liras, its share decreased by 3 percent, to 41 percent of the total volume of obligations. The volume of liabilities in foreign currency increased by 21.9 percent.
The volume of deposits increased by 19.6 percent and amounted to 2.272 trillion liras, and its share in the total assets grew by 60 percent. Fixed-term deposits amounted to 535.117 billion liras (76.5 percent), having increased by 17.3 percent. At the same time, demand deposits increased by 27.9 percent.
In addition, the total debt of Turkish banks increased by 8 percent and amounted to 722.422 billion liras, a significant part (83.3 percent) of which accounted for foreign currency.
The volume of issued securities, according to the Authority, amounted to 204.092 billion liras (an increase on an annualized basis of 16 percent). In foreign currency, this amount amounted to 142.372 billion liras, or 70 percent of the total. The main share of securities (92 percent) was comprised of bonds and bills, at 187.687 billion liras.
Subordinated debt amounted to 124.866 billion liras (an increase of 86 percent). Foreign currency accounted for 76 percent of the total subordinated debt.
($1=5.7538 TRY on Aug. 26)
Follow the author on Twitter: @eldarjanashvili