Banking sector posts $3.4B net profit Jan-May
Turkey’s banking sector net profits totaled TRY 19.7 billion (nearly $3.4 billion) from January-May this year, the country’s banking watchdog reported on July 4. According to the Banking Regulation and Supervision Agency, total assets of the sector surged 17.3 percent year-on-year to reach TRY 4.27 trillion ($732 billion). Loans - the biggest sub-category of assets - went up 8.9 percent on a yearly basis to some TRY 2.55 trillion ($437 billion). On the liabilities side, deposits held at lenders in Turkey totaled 2.27 trillion (some $390 billion) in the five-month period, marking an annual hike of 19.8 percent.