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Turkish banks post $9.2B net profit in January-May

04.07.23 20:00
Turkish banks posted a net profit of 190.34 billion Turkish liras ($9.2 billion) in the January-May period, the country’s banking watchdog said on Tuesday.

Total assets of the Turkish banking sector amounted to 16.84 trillion Turkish liras ($843.5 billion) as of this May, up from 11.3 trillion Turkish liras ($692.09 billion) in May 2022, according to data from the Banking Regulation and Supervision Agency.

Loans, the largest sub-category of assets, reached 9.2 trillion Turkish liras ($447.5 billion) in May.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled 10.35 trillion Turkish liras ($501.7 billion).

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 17.08% at the end of last month.

The ratio of non-performing loans to total cash loans – the lower the better – was 1.75%.

As of end-May, a total of 54 state/private/foreign lenders – including deposit banks, participation banks, development and investment banks – were operating in Türkiye.

The sector had 207,153 employees working at 11,041 branches both in Türkiye and abroad, along with 48,810 ATMs, AA reports.