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Turkish Daily News, 96-07-02
From: Turkish Ministry of Foreign Affairs <http://www.mfa.gov.tr>
TURKISH DAILY NEWS
2 July 1996
CONTENTS
[01] Istanbul top destination for Turkish bank loans
[01] Istanbul top destination for Turkish bank loans
Turkish Daily News
ANKARA- Commercial capital Istanbul was the top destination for Turkish
bank loans last year, banking industry figures have revealed.
A report released by the Turkish Banks Association revealed that loans to
Istanbul companies amounted to TL 573 trillion during 1995, accounting for
32.8 percent of total loans worth TL 1.7843 quadrillion. Ankara and Izmir
ranked second and third respectively in terms of loan volume. The report
said war-weary Sirnak in Southeast Turkey was at the bottom of the list,
absorbing only TL 79 billion worth of bank loans.
On a territorial basis, the report said, Marmara was the principal absorber
of bank loans last year, with loans of TL 671 trillion, 38.5 percent of all
loans in Turkey. The Southeast was the poorest loan destination, with TL
8.7 trillion loans, making only 0.4 percent share in Turkey's loan
market.
The report also disclosed that the agricultural sector was the main
destination of bank loans throughout Turkey. Farm loans amounted to TL
326.9 trillion, or 18.7 percent of all loans. Of that amount, three
provinces, Adana, Izmir and Giresun absorbed TL 116 trillion worth of
loans. Real estate loans were TL 56.3 trillion, 60 percent of which went to
top three provinces, Istanbul, Ankara and Izmir.
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