12/30/2020 1:16 p.m.
The Turkish banking sector made a net profit of 57.3 billion Turkish lira (over € 6 billion) in the first eleven months of 2020, the country’s banking regulator said on December 29.
The sector’s net profit increased 23 percent from 45.55 billion Turkish Lira for the same period last year. This emerges from a report by the banking regulatory authority (BDDK). The sector’s total assets rose by 34.8 percent year-on-year to around 6.12 trillion Turkish lira (EUR 627.58 billion) at the end of November.
Turkish banking sector employs over 200,000 people
Loans amounted to 3.63 trillion lira (380.36 billion euros) and increased by 39.7 percent compared to the same period last year. On the liabilities side, deposits with lenders in Turkey totaled almost 3.48 trillion Turkish lira (365.26 billion euros), an increase of around 42 percent over the previous year.
Referring to lenders’ minimum capital requirements, the banking sector’s regulatory capital-to-risk-weight ratio – the higher the better – was 19.38 percent at the end of November, compared with 18.63 percent for the same period last year. The ratio of bad loans to total cash advances was 3.97 percent for the same period, compared to 5.23 percent last year. In Turkey, a total of 51 lenders were operating in Turkey in November. No distinction is made between state and private or domestic and foreign banks. In the banking sector, 204,256 people worked in 11,435 branches both in Turkey and overseas.
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