Banking sector net income rose 38 percent year-on-year in February

While the net profit of the banking sector was 26.244 billion lira in February, the profit for the January-February period was 65.564 billion lira.

In February, the utility of the sector increased 38 percent compared to the same month of the previous year. Annual inflation in February was 55.18 percent. Thus, although bank profits remained below inflation in February, they fell in real terms.

According to data from the Banking Supervision and Regulation Agency (BDDK), the total asset size of the Turkish banking sector increased by 686.981 billion lira as of February compared to the end of 2022 and reached 15 trillion 34, 4 billion lire.

BRSA published the report “Key Unconsolidated Indicators of the Turkish Banking Sector” for the February 2023 period.

SIZE OF SECTOR ASSETS 15.3 TRILLION TL

According to the report, the size of the banking sector’s assets in February was 15 trillion 34 billion 371 million lira. While the sector’s total assets increased by 686.981 million lira compared to the end of 2022, the proportional equivalent of this was 4.8 percent.

Compared to the end of February 2022, loans, the sector’s biggest asset, increased 6.3 percent to 8 trillion 54.958 million lira, and total values ​​rose 6.6 percent to 2 trillion. 528 thousand 165 million lire. In this period, the loan delinquency rate stood at 1.93 percent.

The deposit, which is the largest source of funds among banks’ resources, increased 6.5 percent in February compared to the end of 2022 and reached 9 trillion 437.901 million liras.

In the same period, the total assets reached 1 trillion 487 thousand 723 million lira with an increase of 5.8 percent. As of the end of February, the sector’s net profit for the period was TL 65.564 million, and the standard capital adequacy ratio was 17.15 percent.