Turkey: Banking sector net profit hits $1.2B in Jan-Feb

ANKARA

Turkish banking sector's net profit totaled some 6.48 billion Turkish liras ($1.22 billion) in January-February this year, the country's banking regulator said Friday.

According to the Banking Regulation and Supervision Agency, total assets of the sector surged 19.4 percent year-on-year to reach 3.93 trillion liras ($743 billion).

Amounting to some 2.42 trillion liras ($457 billion), loans -- the biggest sub-category of assets -- rose by 12.9 percent on a yearly basis.

On the liabilities side, deposits held at lenders in Turkey were 2.09 trillion Turkish liras ($396 billion) in the two-month period, marking an annual hike of 20.1 percent.

The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 5.30 at the end of February this year, versus 3.79 at the end of the same month in 2018.

ANKARA

Turkish banking sector's net profit totaled some 6.48 billion Turkish liras ($1.22 billion) in January-February this year, the country's banking regulator said Friday.

According to the Banking Regulation and Supervision Agency, total assets of the sector surged 19.4 percent year-on-year to reach 3.93 trillion liras ($743 billion).

Amounting to some 2.42 trillion liras ($457 billion), loans -- the biggest sub-category of assets -- rose by 12.9 percent on a yearly basis.

On the liabilities side, deposits held at lenders in Turkey were 2.09 trillion Turkish liras ($396 billion) in the two-month period, marking an annual hike of 20.1 percent.

The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 5.30 at the end of February this year, versus 3.79 at the end of the same month in 2018.