PROSPECTS AND OPPORTUNITIES
Strong banking system to support dynamic growth of loans
The Central Bank of Turkey has expressed its intention to curtail demand for consumer loans in the near term and prioritise commercial loans to support economic development. Slowing down the value growth of consumer loans is expected to drive down inflation, which is a key objective of the Turkish government.
Auto loans under pressure from transition to electric vehicles
The transition to electric vehicles (EVs) is causing consumers to think twice about auto loans, especially with Turkey’s EV infrastructure still in the development stage. They are also concerns about the long-term cost-effectiveness and the availability of charging options for EVs.
BNPL is poised for significant growth
The Buy Now Pay Later (BNPL) industry has experienced significant growth and is poised for further evolution and expansion in the future. As technology advances and consumer preferences evolve, we can expect to see continued innovation in BNPL services, including potential integration with mobile wallets and increased customisation options.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Turkey, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Consumer Credit in Turkey report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Consumer Credit in Turkey?
- What are the major trends key to understanding Consumer Credit in Turkey?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Consumer Credit in Turkey - Category analysis
KEY DATA FINDINGS
Consumers remain cautious when borrowing
Rise in digitalisation as providers pursue an omnichannel approach
Traditional banks face growing competition from fintech
Strong banking system to support dynamic growth of loans
Auto loans under pressure from transition to electric vehicles
BNPL is poised for significant growth
Consumer Lending in Turkey - Industry Overview
Consumer lending in 2024: The big picture
Consumer loan interest rates continued to rise
BNPL loans are rapidly gaining popularity
What next for consumer lending?
DISCLAIMER
The following categories and subcategories are included:
Consumer Credit
- Auto Lending
- Card Lending
- Durables Lending
- Education Lending
- Home Lending
- Other Personal Lending
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Consumer Credit research and analysis database.
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