Turkey: Banks register $2.4B net profit in Feb-Jan

Total assets of banking sector up 20% y-o-y as of end-February, says banking watchdog

Turkey’s banking sector recorded 15.1 billion Turkish liras ($2.4 billion) net profits as of end-February, the country’s banking watchdog said Monday.

Total assets of the sector jumped 20% year-on-year to 4.7 trillion Turkish liras ($759.7 billion), the Banking Regulation and Supervision Agency (BRSA) report revealed.

Loans, the biggest sub-category of assets, amounted to 2.8 trillion Turkish liras ($447 billion), a 14.5% rise from last year.

On the liabilities side, deposits held at lenders in Turkey the largest liabilities item totaled 2.7 trillion Turkish liras ($433.6 billion), rising 29% on an annual basis.

The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 6.24 as of Feb. 28, versus around 5.30 at the end of last February.

Pointing to lenders’ minimum capital requirements, the banking sector’s regulatory capital-to-risk-weighted-assets ratio the higher the better was 17.71% by the end last month, up from 17.01% in the same period last year.

The ratio of non-performing loans to total cash loans the lower the better stood at 5.20% in the same period, versus 4.11% a year ago.

As of end-February, a total of 51 state/private/foreign lenders including deposit banks, participation banks, and development and investment banks operated in the Turkish banking sector.

The sector had 204,204 employees, serving through 11,361 branches both in Turkey and overseas with some 49,507 ATMs.

Anadolu Agency

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