The net profit of the Turkish banking sector in the January-November period surged by approximately 9% compared to the same period last year and reached TL 583.12 billion ($16.5 billion), according to the data shared by the banking watchdog on Monday.
The asset size of the sector increased by TL 7.6 trillion compared to the end of 2023 and reached TL 31.16 trillion in November 2024, according to the Banking Regulation and Supervision Agency (BDDK).
Loans, the largest sub-category of assets, totaled TL 15.46 trillion as of the end of November, and the total securities stood at TL 5.09 trillion, the BDDK said. During this period, the credit conversion rate was 1.80%.
Deposits, which are the largest source of funds among banks' resources, increased by 22.4% compared to the end of 2023, reaching TL 18.17 trillion, according to the data.
In the same period, the total equity increased by 27.7%, reaching TL 2.75 trillion.
While the net profit was recorded at TL 583.12 billion, the capital adequacy standard ratio was recorded as 18.29% as of November.
