Turkish banks post $17.3B net profit in January-October

Total assets of banks reached $773B as of end-October, according to banking watchdog data

By Tuba Ongun

ANKARA (AA) – Turkish banks posted 486 billion Turkish liras ($17.3 billion) net profit in January-October, according to official data released on Thursday.

Total assets in the Turkish banking sector amounted to 21.8 trillion Turkish liras ($773 billion) at the end of October, the Banking Regulation and Supervision Agency (BRSA) said.

Loans, the largest sub-category of assets, reached nearly 11 trillion Turkish liras ($390.5 billion) in the 10-month period.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled 13.8 trillion Turkish liras ($492.3 billion).

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 18.44% as of the end of last month.

The ratio of non-performing loans to total cash loans – the lower the better – was 1.54%.

As of end-October, a total of 58 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – were operating in Türkiye.

The sector had 208,354 employees working at 11,034 branches both in Türkiye and abroad, as well as 49,424 ATMs.

Kaynak:

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