Turkish banks see $594M net profit in January

Total assets of banking sector grow 33% on annual basis, exceeding $829B as of end-January, says banking watchdog

Turkey’s banking sector registered a net profit of 4.3 billion Turkish liras ($594 million) in January, the banking watchdog revealed Monday.

Total assets of the sector rose 33% on an annual basis, surpassing 6 trillion Turkish liras ($829 billion) in the month, said a report by the Banking Regulation and Supervision Agency (BRSA).

Loans, the biggest sub-category of assets, were around 3.6 trillion Turkish liras ($487.5 billion), posting a 32% rise year-on-year.

On the liabilities side, deposits held at lenders in Turkey the largest liabilities item totaled over 3.4 trillion Turkish liras ($469 billion), up 32% 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 18.37% by the end of this January, improved from 18.42% in January 2020.

The ratio of non-performing loans to total cash loans the lower the better was 4.08% in the same period, versus 5.34%.

As of January, a total of 52 state/private/foreign lenders including deposit banks, participation banks, and development and investment banks operated in Turkey.

The sector had 203,060 employees serving through 11,186 branches both in Turkey and abroad with 49,130 ATMs.


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