Turkish banks post $4.8B net profit in 1st quarter

By Tuba Ongun

ANKARA (AA) – Turkish banks posted a net profit of 153.5 billion Turkish liras ($4.8 billion) in the first quarter of 2024, according to official data released on Monday.

Total assets of the banks amounted to 25.9 trillion liras ($803.9 billion) at end-March, the Banking Regulation and Supervision Agency (BRSA) said.

Loans, the largest sub-category of assets, amounted to 12.9 trillion liras ($401.8 billion) in three months to March.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled 15.5 trillion liras ($481 billion).

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 16.96% as of the end of March.

The ratio of non-performing loans to total cash loans – the lower the better – was 1.49%.

As of end-March, a total of 61 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – were operating in Türkiye.

The sector had 210,170 employees working at 10,953 branches both in Türkiye and abroad, as well as 50,220 ATMs.