Turkish banks post $5.8B net profit in January-November
Total assets of banking sector up 46.2% y-o-y as of end-November, says banking watchdog
Ankara
ANKARA
Turkey’s banking sector registered a 75.3 billion Turkish liras ($5.8 billion) net profit as of the end of November, the country's banking watchdog announced on Wednesday.
The figure rose 31.4% from the same period last year, the Banking Regulation and Supervision Agency (BRSA) data showed.
Total assets of the sector hit 8.95 trillion Turkish liras ($691.5 billion), up 46.2% year-on-year.
Loans, the largest sub-category of assets, went up 32% to 4.8 trillion Turkish liras ($369.9 billion) in the 11-month period.
On the liabilities side, deposits held at lenders in Turkey totaled nearly 5.2 trillion Turkish liras ($401.7 billion) by end-November, up 50% year-on-year.
Pointing to lenders' minimum capital requirements, the banking sector's regulatory capital-to-risk-weighted-assets ratio – the higher the better – was 17.79% as of the end of November, while it was 19.38% in the same period of previous year.
The ratio of non-performing loans to total cash loans – the lower the better – was 3.22% versus 3.97% last November.
As of the end of November, a total of 53 state/private/foreign lenders – including deposit banks, participation banks, development and investment banks – were operating in Turkey.
The sector had 201,747 employees serving through 11,130 branches both in Turkey and abroad with 48,827 ATMs.
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