Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu, who urged banks not to turn their backs on the real sector, made the following statement:

“Recently, high loan interest rates imposed by banks have become one of the most important obstacles to production and investment. The level at which loan interest rates come in doesn't fit into the low interest rate environment around the world and prevents our entrepreneurs from standing up to global competition.

There are many businesses all over Anatolia that work efficiently and properly. These companies, which contribute to production, exports and employment, are the national wealth of our country and must be protected.

Therefore, the financing burden on the real sector should be reduced. Macroeconomic balances need to be observed in line with a reasonable level of inflation and interest rates.

On the other hand, we expect a more responsible approach to loan interest from banks. Banks that have difficulty in reducing interest rates on time can move very quickly when it comes to interest rate increases.

By raising loan rates much higher than the increase in their costs, they are hindering growth, not supporting it. Banks should end their habit of raising rates easily and stop thinking only focused on their own incomes and do their part.

In addition, companies that lose income due to the pandemic should take a more constructive attitude towards their loans. We are in a period where the financial and real sector needs to better understand each other by acting together to offer a better future for our country. During this period, we must keep revenues and costs in moderation and support each other.

I'd like to address our banks: Don't turn your back on the real sector, don't always look to your own interests. Especially carefully evaluate those who provide production, investment, exporters and employment. Let's support and sustain our competitive companies and entrepreneurs so that we can maintain our growth and export capacity and increase them in a healthy way. So, let's stand up after the pandemic, again and quickly, and not be left behind in the global race.”