12.9 C
Frankfurt am Main

Turkish banks post net profit of $10.9 billion in first 7 months of 2023

Must read

Turkey’s banking regulator said Tuesday that Turkish banks posted a net profit of 293.4 billion Turkish lira ($10.9 billion) in the January-July period, the state-run Anadolu news agency reported.

Total assets of the Turkish banking sector stood at 20 trillion lira ($743.5 billion) at the end of July, according to data from Turkey’s Banking Regulation and Supervision Agency (BDDK).

Loans, the largest subcategory of assets, totaled 10.3 trillion lira ($384.4 billion) from January to July.

On the liability side, deposits with lenders in Turkey – the largest liability item – totaled 12.5 trillion lira ($464.1 billion).

The regulatory ratio of equity to risk-weighted assets – the higher, the better – stood at 18.7 percent at the end of last month.

The ratio of non-performing loans to total cash loans – the lower, the better – was 1.6 percent.

At the end of April, there were 55 state-owned, private and foreign lenders operating in Turkey, including deposit, participation, development and investment banks.

The sector employed 207,497 people in 11,046 branches in Turkey and abroad and 48,963 ATMs.

Liked it? Take a second to support Turkish Minute on Patreon!
Become a patron at Patreon!
More News
Latest News