Net profit of Turkish banking sector up to $9.7B in H1
ISTANBUL
Türkiye’s banking sector posted a net profit of 250.3 billion Turkish liras ($9.69 billion) in the first six months of 2023, the country’s banking watchdog said on Monday.
The sector’s net profit was up 47.9% compared with 169.15 billion Turkish liras ($585 million) in the same period last year, according to data by the Banking Regulation and Supervision Agency.
Total assets of the sector rose 63% year-on-year to 19.1 trillion Turkish liras ($739.55 billion) as of the end of June, the report showed.
Loans, the biggest sub-category of assets, were 10.09 trillion Turkish liras ($387.55 billion), up 60.09% compared with the same period of last year.
On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled nearly 11.65 trillion Turkish liras ($451.05 billion), up some 71.5% year-on-year.
The US dollar/Turkish lira exchange rate was 26.98 at the end of June 2023 and 16.7 at the end of June 2022, according to the Turkish Central Bank data.
A total of 55 state/private/foreign lenders – including deposit, participation, and development and investment banks – conducted banking activities in Türkiye as of January.
Pointing to lenders’ minimum capital requirements, the banking sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – was 17.96% by the end of June, versus 18.05% at the end of June 2022.
The ratio of non-performing loans to total cash loans – the lower the better – was 1.64% in June, versus 2.49% a year ago.
The sector had over 207,300 employees, serving through 11,148 branches both in Türkiye and overseas.
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