The combined net income of Turkish banks stood at 389.2 billion Turkish Liras in January-November, rising by 417 percent from the same period of last year, data from the banking sector regulator (BDDK) have shown.
In the first 11 months of last year, lenders posted a total profit of 75.3 billion liras.
Banks’ interest income from loans grew 82 percent to 721 billion liras,with the net interest income of lenders rising 196 percent year-on-year to 658 billion liras.
Interest income from consumer credits increased by 57 percent to 138 billion liras.
The banking industry’s total assets increased by 49.8 percent from the end of 2021 to reach 13.8 trillion liras, according to the data from the BDDK.
Loans, the largest item in assets, amounted to 7.3 trillion liras as of July, rising 48.4 percent. The securities portfolio also exhibited a 56.1 percent rise over the same period to stand at 2.3 trillion liras.
Deposits, the biggest fund resource of the banks, increased by 60.4 percent compared to the previous year-end to 8.5 trillion liras.
The total shareholders’ equity rose by 86.2 percent from the end of 2021 to 1.32 trillion liras compared to the end of 2021.
The non-performing loans to total loans ratio improved from 3.22 percent from November last year to 2.16 percent last month.
The capital adequacy ratio increased from 18 percent to 19.35 percent.
There were 54 banks operating in Turkiye as of November, with 10,988 branches in the country and nearly 49,000 ATMs.
The number of employees in the banking industry increased from around 201,000 to 205,101.