Business

Turkish banks post $5.8B net profit in January-November

Total assets of banking sector up 46.2% y-o-y as of end-November, says banking watchdog

Turkey’s banking sector registered a 75.3 billion Turkish liras ($5.8 billion) net profit as of the end of November, the country’s banking watchdog announced on Wednesday.

The figure rose 31.4% from the same period last year, the Banking Regulation and Supervision Agency (BRSA) data showed.

Total assets of the sector hit 8.95 trillion Turkish liras ($691.5 billion), up 46.2% year-on-year.

Loans, the largest sub-category of assets, went up 32% to 4.8 trillion Turkish liras ($369.9 billion) in the 11-month period.

On the liabilities side, deposits held at lenders in Turkey totaled nearly 5.2 trillion Turkish liras ($401.7 billion) by end-November, up 50% year-on-year.

Pointing to lenders’ minimum capital requirements, the banking sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better was 17.79% as of the end of November, while it was 19.38% in the same period of previous year.

The ratio of non-performing loans to total cash loans the lower the better was 3.22% versus 3.97% last November.

As of the end of November, a total of 53 state/private/foreign lenders including deposit banks, participation banks, development and investment banks were operating in Turkey.

The sector had 201,747 employees serving through 11,130 branches both in Turkey and abroad with 48,827 ATMs.

Source
AA

Leave a Reply

Your email address will not be published.

Back to top button