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Turkish banks post $8.1B net profit in May

Turkish banks post $8.1B net profit in May
Total assets of banks at $692B as of end-May, according to banking watchdog data

By Tuba Sahin

ANKARA (AA) – Turkish banks posted a net profit of 132 billion Turkish liras ($8.1 billion) in May, the country’s banking watchdog said on Wednesday.

Total assets of the Turkish banking sector totaled 11.3 trillion Turkish liras ($692 billion) last month, rising from 6.7 trillion Turkish liras in May 2021, according to data from the Banking Regulation and Supervision Agency (BRSA).

Loans, the largest sub-category of assets, reached 6.1 trillion Turkish liras ($372 billion) with a year-on-year rise of 57%.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – amounted to 6.6 trillion Turkish liras ($403 billion), up 72% on an annual basis.

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 18.15% at the end of last month, up from 17.86% in May 2021.

The ratio of non-performing loans to total cash loans – the lower the better – was 2.61%, down from 3.69% a year ago.

As of end-May, a total of 52 state/private/foreign lenders – including deposit banks, participation banks, development and investment banks – were operating in Türkiye.

The sector had 202,377 employees working at 11,171 branches both in Türkiye and abroad, along with 48,710 ATMs.

source: News Feed
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