Turkish banking sector sees $17.9B net profits in October

By Mucahithan Avcioglu

ISTANBUL (AA) - Net profits of Türkiye's banking sector in October totaled 751.6 billion Turkish liras ($17.95 billion), the banking authority said Monday.

The sector's net profits climbed 18% compared to the same month last year, according to data from the Banking Regulation and Supervision Agency (BDDK).

Total assets of the sector reached 44.1 trillion liras ($1.05 trillion) at the end of October. Loans, the biggest sub-category of assets, totaled 21.58 trillion liras ($515.8 billion).

Deposits, the largest liabilities item, totaled 25.36 trillion Turkish liras ($606.26 billion).

Pointing to lenders' minimum capital requirements, the banking sector's regulatory capital-to-risk-weighted-assets ratio – the higher the better – rose to 18.87% by the end of October.

The ratio of non-performing loans to total cash loans, the lower the better, stood at 2.39%.

As of the end of October, 67 state/private/foreign lenders, including deposit banks, participation banks and development and investment banks, operated in the Turkish banking sector.

The sector had 211,184 employees serving at 10,765 branches in Türkiye and overseas.