Turkish banks post $10.9B net profit in July

Total assets of banks reached $743.5B as of end-July, according to banking watchdog data

By Tuba Ongun

ANKARA (AA) – Turkish banks posted 293.4 billion Turkish liras ($10.9 billion) net profit in January-July, according to data released on Tuesday by the country’s banking watchdog.

Total assets in the Turkish banking sector reached 20 trillion liras ($743.5 billion) at the end of July, the Banking Regulation and Supervision Agency (BRSA) data showed.

Loans, the largest sub-category of assets, amounted to 10.3 trillion liras ($384.4 billion) from January to July.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled 12.5 trillion liras ($464.1 billion).

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 18.7% as of the end of last month.

The ratio of non-performing loans to total cash loans – the lower the better – was 1.6%.

As of end-April, a total of 55 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – were operating in Türkiye.

The sector had 207,497 employees working at 11,046 branches both in Türkiye and abroad, as well as 48,963 ATMs.

Kaynak:

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