Seeing the sweet profit of the bank, the gun of interest is pulling

In currency secured TL deposit products, the first term has expired and depositors have received their interest with the difference in exchange rate. The earnings of depositors earning more than 25 per cent quarterly returns in the application, which took effect in December, were above 21.9 per cent, which could be a three-month inflation considering the 60 per cent monthly inflation expected in March. After their due date, depositors received an unexpected phone call. Depositors were offered to renew their KKM accounts from the bank’s head office. This time the interest has been paid at the upper limit and the banks have paid 18 percent regardless of the size of the money.

According to Şebnem Turhan from the Dünya Newspaper, the first three months of maturity of real persons ended last week on a currency-protected TL deposit, beginning December 21, 2021, and extended only to real persons, then to legal entities. And foreign. In the first week when KKM was used and in the last week of 2021, it was .6 11.67-13.61 / TL, and depositors who participated in KKM at a lower exchange rate were able to earn more than inflation in three months. Subsequently, until the Russian-Ukrainian war and the US Central Bank Fed’s drastic action, the dollar / TL followed a quiet path at 13.60 lira. After the war, foreign exchange was sold from the central bank and the public so that the dollar / TL, which exceeded 14 lira, did not exceed 15 lira, according to market experts.

Exchange Renew Limited

Now, the first real people’s move was eagerly awaited after quarterly returns exceeded 25 percent. This is because both the Treasury and Finance Minister Nureddin Nebati and the central bank cite KKM as one of the most important tools for monetary policy and reducing inflation. After the first maturity date of the actual persons, the depositors were called from the general directorate of the bank to renew the maturity. According to banking sources, it was stated that most depositors who converted their TL deposits to KKM again participated with a three-month term, when it was mentioned that maturity renewal was limited when converting from foreign currency deposits to KKM. Was. .

The interest rate is 17 percent, whatever the size

In KKM, the interest rate offered by banks was three points higher than the policy rate. It shows that a maximum of 17 per cent interest can be paid considering a 14 per cent policy rate. Again, according to banking sources, banks change the interest rate on the first KKM accounts according to the size of the depositor’s deposit, while during the maturity renewal period, regardless of the size of the deposit, transactions are tied at 17 percent. Interests. The 17 per cent interest rate, on the other hand, was above the 15.41 per cent interest rate applicable to TL deposits in the week ended March 18, according to the central bank.

In fact, the market was waiting for the government to raise the interest rate on banks to 18 percent. However, according to the information received from the source, there is no public work in this direction. Sources said that the public feels that the appetite of the citizens for participation in KKM is determined by the level of exchange rate rather than interest rate and pointed out that non-renewable KKM deposits can lead to effective foreign exchange.

KKM has been calculated to contribute জন্য 23.2 billion to the reserves

According to the weekly data of the Banking Regulation and Supervision Agency (BDDK), it exceeds 581 billion 166 million lira. The size of the foreign exchange secured deposit was 321 billion lira, according to a statement from the Treasury and Finance Ministry. Thus, according to CBRT rate banking sources, about .2 23.2 billion has entered the central bank’s reserves through this channel. However, CBRT’s gross reserves, which were 11 111.1 billion on December 31, fell to 108 108.7 billion in the week ended March 18. Meanwhile, as of March 18, the central bank’s net international reserves had increased by িয়ন 1.338 billion over the previous week to বিল 17.19 billion. Excluding swaps, net international reserves have risen from minus $ 43.9 billion to minus $ 45.3 billion.

The bank’s interest on TL deposits fell to 15.41 percent

According to the central bank, the interest rate charged by banks for TL deposits fell by 24 basis points to 15.41 per cent in the week of March 18 compared to the previous week, while the interest rate on dollar deposits rose by 7 basis points to 0.86. Percent. The euro deposit rate fell 5 basis points to 0.33 percent. On the other hand, interest rates on TL-based commercial loans stood at 20.69 per cent, down 35 basis points from the previous week. The TL-based housing loan rate rose 57 basis points to 18.27 percent; Vehicle loans rose 110 basis points to 26.27 per cent and consumer loans rose 21 basis points to 29.20 per cent. Although the rate of commercial loans has decreased, the rate of consumer loans has increased in the last week. The dollar-based commercial loan interest rate fell 97 basis points to 4.09 percent in the same week, while the euro-based commercial loan interest rate fell 34 basis points to 3.62 percent. Deposit spreads applicable to commercial loans were 5.28 percent for TL, 3.23 percent for USD and Euro and 3.29 percent for Euros, respectively. The spread of deposits on TL commercial loans continues above the spreads applicable to dollar and euro loans.

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