Net profit of Turkish banking sector up 31.8% in April

Total assets of sector reach $817.2B as of end-April, up 47.7% year-on-year

Türkiye’s banking sector posted a net profit of 190.7 billion Turkish liras ($5.94 billion) in April 2024, the country’s banking watchdog said on Thursday.

The sector’s net profit was up 31.8% versus the same month last year, according to data by the Banking Regulation and Supervision Agency.

Total assets of the sector rose 60.2% year-on-year to 26.24 trillion Turkish liras ($817.2 billion) as of the end of April, the report showed.

Loans, the biggest sub-category of assets, were 13.15 trillion Turkish liras ($409.4 billion), up 47.7% compared with the same period of last year.

On the liabilities side, deposits held at lenders in Türkiye the largest liabilities item totaled nearly 15.6 trillion Turkish liras ($487.55 billion), up some %50.7 year-on-year.

A total of 61 state/private/foreign lenders including deposit, participation, and development and investment banks conducted banking activities in Türkiye as of April.

The sector had 210,186 employees, serving through 10,939 branches both in Turkiye and overseas.

Source: aa

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