Net profit of Turkish banking sector at $11.3B

Total assets of sector reached $879.3B as of end-August, up 26.1% from end-2023

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish banking sector's net profit was at 382.77 billion Turkish liras ($11.3 billion) this January to August, the country's banking watchdog said on Monday.

The sector's overall assets amounted to 29.69 trillion liras ($879.3 billion), up 26.1% in the eight-month period versus the end of 2023, the Banking Regulation And Supervision Agency (BDDK) said.

Loans, the largest item under assets, totaled 14.64 trillion liras ($433.5 billion), rising 25.4%.

The share of non-performing loans – lower is better – in total loans came in at 1.69%.

Deposits, banks' biggest source of funds, rose 17.6% compared to the end of the previous year to 17.46 trillion ($517.5 billion).

Kaynak: