VAKIFBANK
ANNUAL REPORT 2015
36
THE BANKING SECTOR GEARED UP ITS LOAN
GROWTH IN 2015
The total assets of the Turkish banking sector
increased 18.2% year-on-year in December 2015
to reach TL 2,358 billion. The sector’s total assets
corresponded to 126.6% of GDP in the third
quarter of 2015. In 2015, loans continued to play
a crucial role in the growth of assets, and the
percentage of loans among total assets reached
63%, preserving its historically high level. The
growth rate of loans is closely related to the rise
in the exchange rate, and policy makers’ decision
in 2015 to soften the measures taken in previous
years to boost personal savings. A regulation of
the Banking Regulation and Supervision Agency
(BDDK), which came into effect in 25 November,
relaxed the previous limitations on credit card
installments and retail loan maturity terms. These
changes could spur the annual growth rate of
retail loans in the coming period. As a result of
the said measures, the annual growth rate of
retail loans went up from 18.5% in December
2014 to 19.7% in December 2015. Hence, loan
volume reached TL 1,485 billion as of December
2015. The annual growth rate of nominal non-
performing loans tilted upwards in the second
half of 2015, slowed down in the beginning of
the quarter, and closed the year at 30.5%. During
the same period the NPL ratio rose to 3.1%.
In 2015, the share of loans in total assets
increased, while the share of the securities
portfolio in total assets declined. The share
of securities portfolio in total assets was
14% in December 2015, down from 15% in
December 2014. The rise in the exchange
rate in 2015 added momentum to the annual
growth rate of the securities portfolio, which
in December 2015 expanded 9% on an
annual basis to reach TL 326.7 billion. Foreign
investors’ portfolio sell-offs were covered
by the domestic banking sector, which was
another factor bringing up the annual growth
rate of the securities portfolio.
BANKING SECTOR
The total assets of the Turkish banking sector
increased 18.2% year-on-year in December
2015 to reach TL 2,358 billion.
LOANS
50
40
30
20
10
0
Dec 08
Marc 09
June 09
Sept 09
Dec 09
Marc 10
June 10
Sept 10
Dec 10
Marc 11
June 11
Sept 11
Dec 11
Marc 12
June 12
Sept 12
Dec 12
Marc 13
June 13
Sept 13
Dec 13
Marc 14
June 14
Sept 14
Dec 14
Marc 15
June 15
Sept 15
Dec 15
Loans (Purged exchange, y-y, %)
Loans (y-y, %)
Assets (y-y, %)
Source: BRSA
THE WORLD AND TURKEY IN 2015
THE EXEMPLARY BANK
THAT LEADS THE PACK
