The net profit of the banking sector increased by 44.68 percent in the last year
According to data from the Banking Regulation and Supervision Agency (BDDK), the asset size of the Turkish banking sector increased by 51.7 percent in the period of October 2023 compared to the end of 2022, reaching 21 trillion 758 billion of liras.
BRSA published the report “Main Unconsolidated Indicators of the Turkish Banking Sector” for the period October 2023.
According to the report, the volume of assets of the banking sector in October amounted to 21 trillion 757 billion 871 million lira. While the sector’s total assets increased by 7 trillion 410 billion 481 million lira compared to the end of 2022, the proportional equivalent of this was 51.7 percent.
LOANS INCREASED BY 454 PERCENT
Loans, the largest asset in the sector, increased by 45 percent compared to the end of 2022, reaching 10 trillion 991 billion 153 million lira, and total securities increased by 56 percent, reaching 3 trillion 698 billion 425 million lire. During this period, the conversion rate of loans to non-performing loans was 1.54 percent.
Deposits, which are the largest source of funds among banks’ resources, increased by 56.3 percent compared to the end of 2022, reaching 13 trillion 848 billion 142 million lira.
In the same period, the total share capital increased by 37.7 percent and reached 1 trillion 935 billion 364 million lira.
In the October 2023 period, the sector’s net profit for the period increased by 44.68 percent to 486 billion 30 million lira, and the standard capital adequacy ratio was 18.44 percent. (AA)
Source: Sozcu
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