Net profit of Turkish banking sector up 31.8% in April

Net profit of Turkish banking sector up 31.8% in April
# 30 May 2024 21:32 (UTC +04:00)

Türkiye’s banking sector posted a net profit of 190.7 billion Turkish liras ($5.94 billion) in April 2024, the country’s banking watchdog said on Thursday, APA reports citing Anadolu Agency.

The sector’s net profit was up 31.8% versus the same month last year, according to data by the Banking Regulation and Supervision Agency.

Total assets of the sector rose 60.2% year-on-year to 26.24 trillion Turkish liras ($817.2 billion) as of the end of April, the report showed.

Loans, the biggest sub-category of assets, were 13.15 trillion Turkish liras ($409.4 billion), up 47.7% compared with the same period of last year.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled nearly 15.6 trillion Turkish liras ($487.55 billion), up some %50.7 year-on-year.

A total of 61 state/private/foreign lenders – including deposit, participation, and development and investment banks – conducted banking activities in Türkiye as of April.

The sector had 210,186 employees, serving through 10,939 branches both in Turkiye and overseas.

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