Turkish banking sector posts $11.8B net profits in July

ISTANBUL

Net profits of Türkiye's banking sector in July totaled 479.2 billion Turkish liras ($11.84 billion), the country's banking watchdog said Friday.

The sector's net profits climbed 37.4% compared to the same month last year, according to data from the Banking Regulation and Supervision Agency (BDDK).

Total assets of the sector reached 40.7 trillion liras ($1 trillion) at the end of July. Loans, the biggest sub-category of assets, totaled 20.05 trillion liras ($469 billion).

Deposits, the largest liabilities item, totaled 23.48 trillion Turkish liras ($581.1 billion).

Pointing to lenders' minimum capital requirements, the banking sector's regulatory capital-to-risk-weighted-assets ratio -- the higher the better -- was at 18.2% by the end of July.

The ratio of non-performing loans to total cash loans, the lower the better, stood at 2.18%.

As of the end of July, 66 state/private/foreign lenders. including deposit banks, participation banks and development and investment banks, operated in the Turkish banking sector.

The sector had 211,168 employees serving at 10,811 branches in Türkiye and overseas.