Speaking to students in Konya yesterday, Bilgin said that banks distributed too many credit cards in recent years without care for whether the consumer in question should have one or not. He stated that out of the 26 million people with credit cards, 2.2 million currently are in default on their card balances. He added that on a card-by-card basis, this accounted for 10.4 percent of all credit cards in consumers’ hands.
“Why is this happening? First, it’s the banks’ fault, and second, it’s the consumers’ fault. … Banks gave out too many credit cards without taking note of consumers’ incomes; they just tried to create volume. Consumers, on the other hand, saw credit cards as a lifestyle choice rather than a method of payment. They saw it as a way to substitute another life for their own,” highlighted Bilgin.
Opening up abroad
Regarding the banking sector, Bilgin stated that 26 domestic banks had opened up international branches, especially in Turkic nations and the Balkans. “We’re a nation of 75 million, and as I’ve been saying, we need to expand a bit into the Balkans and our other neighbors. We can profit and grow there as well.”
