Turkish banks post net profit of $10.9 billion in first 7 months of 2023

Turkey’s banking regulator said Tuesday that Turkish banks posted a net profit of 293.4 billion Turkish lira ($10.9 billion) in the January-July period, the state-run Anadolu news agency reported.

Total assets of the Turkish banking sector stood at 20 trillion lira ($743.5 billion) at the end of July, according to data from Turkey’s Banking Regulation and Supervision Agency (BDDK).

Loans, the largest subcategory of assets, totaled 10.3 trillion lira ($384.4 billion) from January to July.

On the liability side, deposits with lenders in Turkey – the largest liability item – totaled 12.5 trillion lira ($464.1 billion).

The regulatory ratio of equity to risk-weighted assets – the higher, the better – stood at 18.7 percent at the end of last month.

The ratio of non-performing loans to total cash loans – the lower, the better – was 1.6 percent.

At the end of April, there were 55 state-owned, private and foreign lenders operating in Turkey, including deposit, participation, development and investment banks.

The sector employed 207,497 people in 11,046 branches in Turkey and abroad and 48,963 ATMs.