Turkish banks see $18.7B net profit in January-November

By Tuba Ongun

ANKARA (AA) – Turkish banks saw a net profit of 535.4 billion Turkish liras ($18.7 billion) in January-November, according to official data released on Friday.

Total assets of the banks reached 22.5 trillion Turkish liras ($785.2 billion) at the end of November, the Banking Regulation and Supervision Agency (BRSA) said.

Loans, the largest sub-category of assets, amounted to 11.3 trillion Turkish liras ($394.6 billion) in the 11-month period.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled 14.1 trillion Turkish liras ($492.7 billion).

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 18.29% as of the end of November.

The ratio of non-performing loans to total cash loans – the lower the better – was 1.51%.

As of end-November, a total of 60 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – were operating in Türkiye.

The sector had 208,377 employees working at 11,024 branches both in Türkiye and abroad, as well as 49,753 ATMs.