Turkish banks see $5.6B net profit in March

By Tuba Sahin

ANKARA (AA) - Net profit of Turkish banks amounted to 107.3 billion liras ($5.6 billion) in March, according to data released on Wednesday.

The figure was up from 63.2 billion Turkish liras ($4.3 billion) in the same month last year.

Lenders' total assets reached 15.8 trillion liras ($827.3 billion) in March, up from 10.2 trillion liras ($695.4 billion) in March 2022, the Banking Regulation and Supervision Agency data showed.

Loans, the largest sub-category of assets, amounted to 8.5 trillion Turkish liras ($444.8 billion).

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – came in at 9.96 trillion Turkish liras ($519.9 billion).

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 17.67% at the end of March.

The ratio of non-performing loans to total cash loans – the lower the better – was 1.82%.

As of end-March, a total of 54 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – were operating in Türkiye.

The sector had 209,339 employees working at 11,060 branches both in Türkiye and abroad, along with a total of 48,694 ATMs.