Turkish banks generate a net profit of USD 6 billion from January to September.

ANKARA

The Turkish banking sector posted a net profit of 46.3 billion Turkish lira (6 billion US dollars) at the end of September, the national bank watchdog said on Friday.

The sector’s total assets rose 40% year over year to around 6 trillion Turkish lira (US $ 776.6 billion) in the nine-month period, according to a report by the Banking Authority (BRSA).

Loans, the largest sub-category of assets, amounted to 3.6 trillion Turkish lira ($ 460.1 billion), up 40% from the same period last year.

On the liabilities side, deposits with lenders in Turkey – the largest liability item – amounted to nearly 3.4 trillion Turkish lira ($ 446.1 billion), an increase of 46% per year.

With reference to the minimum capital requirements of lenders, the regulatory capital-to-risk-weight ratio of the banking sector – the higher the better – was 19.42% at the end of September, compared to 18.44% for the same period last year.

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The ratio of bad loans to total cash advances – the lower the better – was 4.06% over the same period versus 4.96% a year earlier.

By the end of September, a total of 52 state / private / foreign lenders were active in the Turkish banking sector, including depository banks, participation banks and development and investment banks.

The sector employed 203,114 people in 11,295 branches in Turkey and abroad with 49,465 ATMs.

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