By Anadolu Agency
February 29, 2024 2:09 pmISTANBUL
Türkiye’s banking sector posted a net profit of 603.6 billion Turkish liras ($20.57 billion) in 2023, the country’s banking watchdog said on Thursday.
The sector’s net profit was up 39.8% on a yearly basis in 2023, according to data from the Banking Regulation and Supervision Agency (BRSA).
The report showed that the total assets of the sector rose 64.3% year-on-year to 23.53 trillion Turkish liras ($801.66 billion) as of the end of December.
Loans, the biggest sub-category of assets, were 11.67 trillion Turkish liras ($397.74 billion), up 53.9% compared with the previous year.
On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled nearly 14.85 trillion Turkish liras ($506.12 billion), up some 67.6% year-on-year.
The sector’s regulatory capital-to-risk-weighted-assets ratio stood at 18.85% as of the end of last year, while the ratio of non-performing loans to total cash loans was 1.6%.
A total of 60 state/private/foreign lenders – including deposit, participation, and development and investment banks – conducted banking activities in Türkiye as of December.
The sector had 208,623 employees, serving through 10,949 branches both in Türkiye and overseas.
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