Turkish banks see $5.6B net profit in March

The net profit of Turkish banks amounted to TL 107.3 billion ($5.6 billion) in March, according to data released on Wednesday.

The figure was up from TL 63.2 billion in the same month last year.

Lenders’ total assets reached TL 15.8 trillion ($827.3 billion) in March, up from TL 10.2 trillion in March 2022, the Banking Regulation and Supervision Agency data showed.

Loans, the largest sub-category of assets, amounted to TL 8.5 trillion Turkish.

On the liabilities side, deposits held at lenders in Turkiye the largest liabilities item came in at TL 9.96 trillion.

The sector’s regulatory capital-to-risk-weighted-assets ratio the higher the better stood at 17.67% at the end of March.

The ratio of non-performing loans to total cash loans the lower the better-was 1.82%.

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

The sector had 209,339 employees working at 11,060 branches both in Turkiye and abroad, along with a total of 48,694 ATMs.


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