Turkey: Banking sector net profit at $7.24B in Jan-Oct


The net profit of Turkey’s banking sector totaled 41.3 billion Turkish liras ($7.24 billion) in January-October, the country’s banking watchdog said Friday.

The figure was down 10% on an annual basis in the first ten months of this year, the Banking Regulation and Supervision Agency (BDDK) data showed.

Total assets of the sector amounted to 4.3 trillion Turkish liras ($758.97 billion), rising by 8.3% over the same period last year.

Banking sector’s total loans — the biggest sub-category of assets — increased by 4% year-on-year to hit 2.56 trillion Turkish liras ($450.3 billion) in the January-October period.

On the liabilities side, deposits held at lenders in the country amounted to 2.4 trillion Turkish liras ($425.5 billion), up 16.5% during the same period.

The data showed that the sector’s regulatory capital-to-risk-weighted-assets ratio — the higher the better — was 18.48% in October this year versus 18.19% in October 2018.

Measuring the health of loans, the ratio of non-performing loans to total cash loans — the lower the better — stood at 5.15% last month, increasing from 3.47% in October last year.

A total of 51 state/private/foreign lenders — including deposit banks, participation banks, and development and investment banks — conducted banking activities in Turkey as of October.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.

AdvertisementThe new Emirates Premium Economy has arrived on the latest Emirates A380 Emirates Get the best value from your summer holiday with exclusive offers and discounts across Dubai and the UAE with Emirates Pass

What do you think?