Tuba Sahin
30 January 2020•Update: 30 January 2020
ANKARA
The net profit of Turkey's banking sector totaled 49.8 billion Turkish liras ($8.38 billion) in 2019, the country's banking watchdog announced Thursday.
The banking sector's net profit was down 7% last year, compared with 53.52 billion Turkish liras ($10.16 billion) in 2018, according to the Banking Regulation and Supervision Agency (BRSA).
Total assets of the sector surged 16.2% year-on-year to 4.49 trillion liras ($758.1 billion) as of end-2019.
Loans, the biggest sub-category of assets, amounted to 2.66 trillion liras ($448.5 billion), a rise of 11% on an annual basis.
Deposits held at lenders in Turkey -- the largest liabilities item -- totaled 2.6 trillion Turkish liras ($433.6 billion), jumping 26% from the previous year.
The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 5.94 as of Dec. 31, versus around 5.27 at the end of 2018.
Pointing to lenders' minimum capital requirements, the banking sector's regulatory capital-to-risk-weighted-assets ratio -- the higher the better -- was 18.43 by the end last year, up from 17.30% in 2018.
The ratio of non-performing loans to total cash loans -- the lower the better -- stood at 5.33% in the same period, versus 3.87% a year ago.
As of end-2019, a total of 51 state/private/foreign lenders -- including deposit banks, participation banks, and development and investment banks -- operated in the Turkish banking sector.
The sector had 204,626 employees, serving through 11,374 branches both in Turkey and overseas with some 49,204 ATMs.
