Economy

Turkey's Central Bank posts $7.9B net profit in 2019

Bank's gold reserves were 556 tons and gold's share in total reserves was 25.7%

Gokhan Ergocun   | 18.05.2020
Turkey's Central Bank posts $7.9B net profit in 2019

ISTANBUL

Turkey's Central Bank posted 44.73 billion Turkish liras ($7.87 billion) net profit in 2019, the bank announced on Monday.

The bank's net profit was 56.3 billion Turkish liras ($11.67 billion) in 2018, according to a press release by the Central Bank of the Republic of Turkey (CBRT).

The CBRT's net interest incomes -- interest incomes minus interest expenses -- were 18.97 billion Turkish liras ($3.34 billion), up 6.4% year-on-year in 2019.

The bank's net non-interest incomes dropped 25.5% to 36.04 billion Turkish liras ($6.34 billion) last year.

Commission and services incomes of the bank rose 14% to 772.3 million Turkish liras ($135.9 million) in the year.

The bank's tax payments totaled 11.05 billion Turkish liras in 2019.

Last year, the bank's gold reserves were 556 tons and gold's share in the bank's total reserves was 25.7%.

As of the end of the last year, the bank employed 3,874 personnel.

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