TOBB makes statement about loans: Interest rates at 50 per cent, loans not available

Rifat HISARCIKLIOGLU, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), said that some banks do not give loans at all, while others give loans with interest rates between 30 and 50 percent.

Complaints that the sector is experiencing great difficulties increased when the Banking Regulation and Supervision Agency (BRSA) imposed restrictions on the use of loans to stop the increase in foreign currency.

TOBB President stated that a gloomy and uncertain environment awaits the world and stressed that it is critical to ensure that companies have access to finance with appropriate conditions during this difficult period.

HISARCIKLIOGLU, in his speech at the TOBB Sector Councils Consultation meeting attended by the President of the Central Bank Shahap Kavcıoğlu, said: “Recently, access to finance has become difficult, complaints from our companies in every province and district in this direction have increased. It is reported that in addition to the rise in loan interest rates, credit lines have been narrowed in real terms and there have been difficulties in use.”

SOURCE: diken.com.tr/tobb-baskanindan-banka-isyani-faizler-yuzde-50ye-cikti-bazilari-hic-kredi-vermiyor/