BDDK says bank deposits near half a trillion lira

In a report released yesterday, the BDDK provided details on the Turkish banking sector as of the end of September. The report showed that TL 208.23 billion of the deposits were in accounts containing at least TL 1 million.

Turkish residents owned 70.16 million bank accounts whereas residents of foreign countries had only 414,000 accounts. The total amount of money that belonged to the first group was TL 474.26 billion while the latter held a total of TL 14.68 billion. A portion of the deposits, equal to TL 185.76 billion, was held in time deposits in lira. Foreign currency time deposits totaled TL 150.36 billion. State institutions had TL 24.37 billion in total in their bank accounts. At least 30,000 customers had TL 1 million or more in their accounts.

Many of the deposits were short term, the BDDK noted, including TL 77.38 billion in current accounts, TL 143 billion in one-month deposits and TL 226.64 billion in accounts with between one and three-month maturity dates. TL 17.14 billion was left in the banks’ coffers for between three to six months. The amount of money left in bank accounts for six to 12 months was TL 8.12 billion. The total deposits of those who wanted to leave their funds tied up in bank accounts longer for higher interest revenue, on the other hand, was TL 16.58 billion.