Cash credits given to small and medium-sized enterprises (SME) increased at an annual average of 30 percent between 2010 and 2015, reaching $388 billion in 2015 from $125 billion in 2010, according to data from the Turkish Banking Union (TBU).
This means that within five years, cash credits given to the SMEs grew faster than the total credit stock for those years and increased their share of total credit stock from 23.6 percent in 2010 to 26 percent in 2015.
Consisting of 99.8 percent of all enterprises in Turkey, SMEs are the highest growing grouping with a yearly growth rate of 31 percent and 26 percent, respectively.
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