Turkish banking sector's net profits up to $6.9B in April

Total banking sector assets rise 14.2% to $973.8B as of end-April, while loans climb 14.6% to hit $480.3B

By Mucahithan Avcioglu

ISTANBUL (AA) - Net profits of Türkiye's banking sector in April rose to 264.2 billion Turkish liras ($6.9 billion), the country's banking watchdog said Monday.

The sector's net profits jumped 16% compared to the same month last year, according to data from the Banking Regulation and Supervision Agency (BDDK).

Total assets of the sector were 37.3 trillion liras ($973.8 billion) at the end of April, up 14.2%. Loans, the biggest sub-category of assets, totaled 18.4 trillion liras ($480.3 billion), up 14.6%.

Deposits, the largest liabilities item, increased by 13.9% to hit 21.5 trillion Turkish liras ($562.4 billion) in April.

Pointing to lenders' minimum capital requirements, the banking sector's regulatory capital-to-risk-weighted-assets ratio – the higher the better – was at 17.42 by the end of April.

The ratio of non-performing loans to total cash loans, the lower the better, stood at 2.03%.

As of end-April, 63 state/private/foreign lenders. including deposit banks, participation banks and development and investment banks, operated in the Turkish banking sector.

The sector had 210,480 employees serving at 10,800 branches in Türkiye and overseas.

Kaynak:

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