Turkish banking sector posts $13.7B net profits in August

ISTANBUL

Net profits of Türkiye's banking sector in August totaled 563.4 billion Turkish liras ($13.76 billion), the country's banking watchdog said Monday.

The sector's net profits climbed 21.3% compared to the same month last year, according to data from the Banking Regulation and Supervision Agency (BDDK).

Total assets of the sector reached 41.8 trillion liras ($1.02 trillion) at the end of August. Loans, the biggest sub-category of assets, totaled 20.6 trillion liras ($504.1 billion).

Deposits, the largest liabilities item, totaled 23.99 trillion Turkish liras ($586.7 billion).

Pointing to lenders' minimum capital requirements, the banking sector's regulatory capital-to-risk-weighted-assets ratio – the higher the better – was at 18.25% by the end of August.

The ratio of non-performing loans to total cash loans, the lower the better, stood at 2.22%.

As of end-August, 66 state/private/foreign lenders. including deposit banks, participation banks and development and investment banks, operated in the Turkish banking sector.

The sector had 211,255 employees serving at 10,796 branches in Türkiye and overseas.