Loan Support of 689 Billion Lira from Banks to the Agricultural Sector in the First Half of 2024
The banking sector has announced the total amount of loans provided to companies operating in the agricultural sector. By the end of June 2024, the loan volume reached 689 billion 149 million Turkish liras, representing an 18.4% increase compared to the same period last year.
Ziraat Bankası supported the financing of the agricultural ecosystem by granting 200 billion liras in new loans to 574,000 producers during the first half of 2024. As a result, the number of producers utilizing agricultural loans exceeded 1 million, with the total loan amount surpassing 500 billion liras. Livestock production loans accounted for the largest share of agricultural loans.
DenizBank experienced a significant increase in agricultural loans, achieving a 160% growth in the first half of 2024. The most popular products were Agricultural Equal Installment Loans and Producer Cards. DenizBank holds a leading position among private banks with a market share of 48.4%.
DenizBank is also focusing on smart agriculture and technological solutions. They developed a platform called ‘From Deniz to Soil,’ which provides agricultural recommendations, satellite images, and cultivation advice to producers. This platform supports the digital transformation in agriculture and meets the information needs of producers.
Source: Tarım Haberleri
John Peterson graduated with a degree in Agricultural Sciences from Wageningen University in the Netherlands. His specialization is in sustainable crop production and soil health management. John is passionate about integrating modern technology with traditional farming methods to enhance productivity while preserving the environment. He currently works as a consultant, helping farmers adopt sustainable practices.