Turkish banks post $2.8B net profit in February

Total assets of banking sector over $687B as of end-February, according to banking watchdog data

Turkiye’s banks registered a net profit of 39 billion Turkish liras ($2.8 billion) in February, the country’s banking watchdog said on Tuesday.

Total assets of the Turkish banking sector hit 9.5 trillion Turkish liras ($687.4 billion) last month, up 55% from February 2021, according to latest data from the Banking Regulation and Supervision Agency (BRSA).

Loans, the largest sub-category of assets, were around 5.2 trillion Turkish liras ($375 billion) with a 44% year-on-year rise.

On the liabilities side, deposits held at lenders in Turkiye the largest liabilities item totaled over 5.5 trillion Turkish liras ($402 billion), up 60% from a year ago.

Pointing to lenders’ minimum capital requirements, the banking sector’s regulatory capital-to-risk-weighted-assets ratio the higher the better was 19.05% by the end of this February, up from 18.17% last February.

The ratio of non-performing loans to total cash loans the lower the better was 3.02%, dropping from 4.02% in February 2021.

As of the end of February, a total of 54 state/private/foreign lenders including deposit banks, participation banks, development and investment banks were operating in Turkiye.

The sector had 201,552 employees serving through 11,040 branches both in Turkiye and abroad, along with 48,852 ATMs.


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