Turkey: Banking sector’s net profits surge Jan-Sept

Dunya Executive - - OVERVIEW -

The Turk sh bank ng sector’s net prof t reached TRY 42.2 b ll on ($7.06 b ll on) th s January-September, the country’s bank ng watchdog reported October 30. The Bank ng

Regulat on and Superv s on Agency (BDDK) sa d the sector’s n ne-month net prof t saw a 13.4-percent annual r se, up from TRY 37.2 b ll on ($10.5 b ll on) over the same per od last year. As of September, the bank ng sector’s total assets were TRY 4.2 tr ll on ($705.2 b ll on), a cl mb of 55.4 percent yearon-year. Loans, the b ggest sub-category of assets, grew 29.7 percent on a yearly bas s to TRY 2.6 tr ll on ($433.7 b ll on) at the end of September. On the l ab l t es s de, depos ts held at lenders n Turkey totaled TRY 2.1 tr ll on ($358.2 b ll on), up 30.6 percent n the same per od. The rat o of non-perform ng loans to total cash loans - nd cat ng the health ness of g ven loans - was 3.22 percent n September, show ng a sl ght deter orat on compared to 3.04 percent n the same month last year.

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