Turkish Banks Record USD11.8B Profit Growth in July
(MENAFN) Turkish banking institutions recorded explosive profit growth in July, with net earnings skyrocketing to 479.2 billion Turkish liras ($11.84 billion), Banking Regulation and Supervision Agency (BDDK) announced Friday.
The banking industry witnessed a dramatic 37.4% profit surge compared to July of the previous year, regulatory data revealed.
Sector assets swelled to a massive 40.7 trillion liras ($1 trillion) by July's conclusion, with lending portfolios—the dominant asset category—reaching 20.05 trillion liras ($469 billion).
Customer deposits, representing the sector's primary liability component, accumulated to 23.48 trillion Turkish liras ($581.1 billion).
Banking institutions demonstrated robust financial stability, with the regulatory capital-to-risk-weighted-assets ratio hitting 18.2% at July's end—a metric where higher percentages indicate stronger capitalization.
The non-performing loan ratio remained well-controlled at 2.18% of total cash lending, reflecting healthy credit quality across the industry.
Turkey's banking landscape encompasses 66 financial institutions as of July's close, spanning state-owned, private, and foreign-owned entities across deposit banking, participation banking, and development/investment banking sectors.
The industry maintains an extensive operational footprint through 211,168 personnel across 10,811 branch locations spanning domestic and international markets.
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