BANKS SEE USD 7BN NET PROFIT IN DECEMBER

The banking sector registered a net profit of USD 7bn (TRY 92.1bn) in December 2021, according to the Banking Regulation and Supervision Agency (BDDK). The total assets of the sector hit TRY 9.2tr (USD 697.5bn) at the end of last year, up 50.9% from 2020. Loans totaled around TRY 4.9tr (USD 370.9bn), posting a 37% rise year-on-year. On the liabilities side, deposits held by lenders in Turkey totaled over TRY 5.3tr (USD 401.6bn), up 53.5% from a year ago. The ratio of non-performing loans to total cash loans was 3.15% versus 4.08% in the same period of the previous year. As of the end of 2021, a total of 53 state/ private/foreign lenders – including deposit banks, participation banks, development and investment banks – were operating in Turkey.