The net profit of Turkey’s banking sector totaled 30.8 billion Turkish liras ($4.53 billion) in the first half of this year, the country’s banking watchdog announced Thursday.
The banking sector’s net profit was up 23.7%, compared with 24.89 billion Turkish liras ($4.3 billion) in the same period last year, according to the Banking Regulation and Supervision Agency (BDDK).
Total assets of the sector were 5.35 trillion liras ($784.18 billion) as of end-June, up 26.5% on a yearly basis.
Loans, the biggest sub-category of assets, amounted to 3.26 trillion liras ($477.14 billion), a rise of 28.3% on an annual basis.
Deposits held at lenders in Turkey — the largest liabilities item — totaled 3 trillion Turkish liras ($448.4 billion), jumping 34.8% from the January-June period last year.
Pointing to lenders’ minimum capital requirements, the banking sector’s regulatory capital-to-risk-weighted-assets ratio — the higher the better — was 19.50 by the end the last month, up from 17.73% in June 2019.
The ratio of non-performing loans to total cash loans — the lower the better — stood at 4.41% in the same period, versus 4.36% a year ago.
As of end-2019, a total of 51 state/private/foreign lenders — including deposit banks, participation banks, and development and investment banks — operated in the Turkish banking sector.
The sector had 206,032 employees, serving through 11,495 branches both in Turkey and overseas.