Money

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

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.

Source
AA

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