Banks’ net profit rose 96 percent in January

The Banking Regulation and Supervision Agency (BDDK) released its January 2023 data on the banking sector.

Consequently, the net profit of the banking sector in January increased by 96 percent compared to the same period last year, amounting to 39.32 billion Turkish liras.

3.5 PERCENT INCREASE IN LOANS

While the sector’s loans increased 3.5 percent compared to the end of last year, they became 7.85 trillion lira at the end of January, while the size of its assets increased 2.4 percent to 14.69 trillion lire in the same period.

Although the sector’s total assets increased by 341,461 million lira compared to the end of 2022, its proportional equivalent was 2.4 percent.

While the sector’s delinquency ratio was announced at 2.01 percent in January, the capital adequacy ratio was 16.99 percent.

The deposit, which is the largest source of funds among banks’ resources, increased 3.2 percent in January compared to the end of 2022 and reached 9 trillion 147.151 million liras.

In the same period, the total assets reached 1 trillion 418 thousand 839 million lira with an increase of 0.9 percent. At the end of January, the sector’s net profit for the period was 39.32 billion lira, and the standard capital adequacy ratio was 16.99 percent. (REUTERS, AA)