World Bulletin/News Desk
Loans taken out by the private sector from foreign financial institutions increased by $3.5 billion in the first five months of the year, according to data released by Turkey's central bank on Tuesday.
With the increase, the estimated total value of long-term loans has reached $142.8 billion. The information indicated that direct bank loans by the private sector between the end of last year and the end of May increased by $444 million, while loans via bond issuance rose by $3.3 billion in the same period.
Loans by non-banking financial institutions declined by $403 million, while their bond issuances went up by $1.5 billion. In the meantime, loans by non-financial institutions also fell by $2.4 billion, while their bond reserves rose by $990 million, reaching a total of $2.4 billion.
In addition, as of the end of May, short-term loans by the private sector -- with the exception of commercial loans -- increased by $5.9 billion compared to the end of 2012, reaching a total of $37.3 billion. Looking at the distribution of loans, loans taken out by banks increased by $5.2 billion, while loans taken out by non-financial institutions went up by $409 million since the end of 2012.Last Mod: 17 Temmuz 2013, 12:59