In the January-August period, Türkiye’s banking sector reported a net profit of 350.58 billion Turkish liras ($13.2 billion), according to the country’s banking watchdog, the Banking Regulation and Supervision Agency (BRSA).
This marked a significant 39% increase in net profit compared to the same period last year.
The sector’s total assets saw substantial growth, surging by 60.2% year-on-year to reach 20.33 trillion Turkish liras ($700.67 billion) by the end of August, as indicated in the BRSA’s report.
Loans, the biggest sub-category of assets, were 10.44 trillion Turkish liras ($393.56 billion), up 56.75% compared with the same period of the last year.
On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled nearly 12.93 trillion Turkish liras ($487.28 billion), up some %67.3 year-on-year.
The sector’s regulatory capital-to-risk-weighted-assets ratio stood at 18.69% as of the end of last month, while the ratio of non-performing loans to total cash loans was 2.38%.
A total of 54 state/private/foreign lenders – including deposit, participation, and development and investment banks – conducted banking activities in Türkiye as of August.
The sector had 204,497 employees, serving through 11,102 branches both in Türkiye and overseas.