Page 24 - TURKRptMar21 2

Mar-19 Ziraat $1,422 Mar-19 Akbank $700 Mar-19 TWF €1,000
Emirates
new
1-year 367 2-year
$470 $356
Libor+2.50% €849 Euribor+2.40%
Libor+2.50% €303 Euribor+2.40% Euribor+2.75%
Turkish Private Sector's External Loan Repayments (excluding trade credits) (USDmn)
I- Financial
i- Banks
ii- Non-bank
II- Non-financial LONG TERM
I- Financial
i- Banks
ii- Non-bank
II- Non-financial SHORT TERM TOTAL
6.0 FX
1,902 479 1,620 393 281 86 1,175 738
3,077 1,216
907 1,553 1,834 718 1,189 1,747 189 364 88 570 860 860
1,674 4,274 975 1,109 4,102 706 565 172 268 814 1,593 503
842 1,004 697 927 145 77 878 1,175
2,152 4,115
2,086 3,339
65 775 452 1,270 2,604 5,385
21,710 18,634 3,076 10,888 32,598
Dec-20 Jan-21 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Total
Dec-20 Jan-21 Feb Mar
Apr May Jun Jul Aug Sep Oct Nov Total
1,789 637 712 1,451 538 601 338 100 111 139 131 119 1,927 768 831
368 548 314 508 54 40 146 101 514 649
1,021 428 899 373 122 55
84 109
1,105 537 3,593 6,404
325 285 235 236 90 49
79 228
384 334 50 105 489
238 412 178 372 61 40 79 98 317 510 2,922 5,895
7,148 6,038 1,110 1,417 8,565 41,163
1,476 2,413
2,695
2,488 5,867
1,478 1,721 2,179
5,004 1,985 2,308 2,927 3,343
404 513
1,882 2,233 2,669
The Erdogan regime’s invisible hand remains there to intervene at adverse moments.
“If you catch good levels here [on the FX market], you even earn money between sales and purchases. We [the public banks] secured the [FX] supply. This is not too bad a thing,” Huseyin Aydin, head of Turkey’s banking association TBB and general manager of the government-run Ziraat Bank—the country’s largest bank by assets—said on February 3 replying to a question on the boom observed last summer in the public banks’ short FX position.
24 TURKEY Country Report March 2021 www.intellinews.com