Turkish banks’ combined profit stood at $7.8 billion

Uncategorized Faizah Kamal 30-Dec-2019

The combined profit of Turkish banks totalled 46.6 billion Turkish Liras (around $7.8 billion) in the first 11 months of 2019, the country’s banking watchdog BDDK reported on December 30.

In the same period of last year, the Turkish banking industry’s net income stood at 50.7 billion liras.

According to data from the BDDK, the total assets of the sector rose by 12.6 percent – 488 billion liras – from the end of 2018 to reach 4.36 trillion liras.

Loans – the largest subcategory of assets – extended by local lenders grew by 8.4 percent, compared to the end of 2018, to hit 2.6 trillion liras.