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Turkish banking sector sees $4.8B net profit in January-July

Total assets of banks rise 19.5% from last year to $798B as of end-July, says banking watchdog

16:37 - 31/08/2021 Salı
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File photo

Turkey’s banking sector posted a net profit of 40.2 billion Turkish liras ($4.8 billion) as of end-July, the country's banking watchdog revealed on Tuesday.

The figure was up 3.1% from the same period last year, a Banking Regulation and Supervision Agency report showed.

Total assets of the sector reached 6.7 trillion Turkish liras ($798 billion) this July, up 19.5% year-on-year.

Loans, the biggest sub-category of assets, jumped 15% to 3.9 trillion Turkish liras ($462 billion) in the same period.

On the liabilities side, deposits held at lenders in Turkey – the largest liabilities item – amounted to 3.9 trillion Turkish liras ($466 billion), an annual rise of 22%.

Showing the lenders' minimum capital requirements, the sector's regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 17.45% by the end of this July, versus 19.2% in July 2020.

The ratio of non-performing loans to total cash loans – the lower the better – was 3.71% in the same period.

As of July, some 52 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – operated in Turkey.

The sector had 201,501 employees serving through 11,149 branches both in Turkey and abroad with 48,717 ATMs.

#Turkish banking sector
#Turkey
#profit
3 yıl önce