Four-month bank profits soar 370%

0
ANKARA

The combined net income of banks operating in Turkey rose 374% in January-April from a year ago to 98.2 billion Turkish liras, according to data from the Regulatory Agency and banking supervision (BDDK).

class=”cf”>

Assets of lenders increased by 1.1 trillion lira – or 12.6% – compared to the end of 2021 to reach 10.4 trillion lira.

Loans granted by banks, which amounted to 3.8 trillion lira a year ago, also increased by 15.2% compared to the end of 2021 to reach 5.7 trillion lira at the end of April. Loans are the largest asset item in the banking sector.

Deposits, the banks’ largest resource of funds, increased by 15.6% compared to the end of 2021 to reach 6.13 trillion lira.

Total interest income generated by banks on loans increased by 60% on an annual basis to reach 201 billion liras, with interest income from consumer loans increasing by 42% year on year to reach 40 .8 billion lire.

The ratio of non-performing loans to total loans improved from 3.74% last year to 2.75% at the end of April, while the capital adequacy ratio rose from 18% to 20, 4%.

Local banks increased their securities portfolio by 18.5% compared to the end of 2021 to 1.75 trillion.

class=”cf”>

Total equity increased by 34% over the same period to reach 957 billion lira.

There were 55 banks operating in Turkey at the end of April, up from 52 a year ago. The total number of branches in the country decreased slightly from 11,105 to 11,027. Banks also reduced their staff from 202,051 to 200,968. The number of ATMs fell from 48,732 to 48,788.

economy,

Share.

About Author

Comments are closed.