Banking sector profit rises by 9 percent in 11 months

Turkish banks posted a combined net income of 583.1 billion Turkish Liras ($16.5 billion) in the January-November period, up 8.9 percent from a year ago, data from the Banking Regulation and Supervision Agency (BDDK) has shown.

Total assets of the lenders grew by 32.3 percent compared to the end of 2023 to stand at 31.2 trillion liras as of November.

Loans, the largest item in assets, increased by 32.4 percent over the same period to 15.5 trillion liras. Despite the increase in loans, the share of non-performing loans in total loans was limited to 1.8 percent.

Deposits, the biggest fund resource of the banks, rose by 22.4 percent, compared to the end of 2023 at 18.2 trillion liras.

Banks expanded their securities portfolios by 28 percent to 5.1 trillion liras.

While the total shareholders' equity increased by 27.7 percent to 2.8 trillion liras compared to the end of 2023, the capital adequacy standard ratio was 18.29 percent as of November.