Net profits of the Turkish banking sector jumped nearly 50% in January when compared to the year earlier, totaling TL 47.34 billion ($1.33 billion), the country's banking watchdog said Monday.
The banking sector's net profits climbed 48.16% compared to the same month last year, according to Banking Regulation and Supervision Agency (BDDK) data.
Total assets of the sector were TL 33.36 trillion as of the end of January, with loans – the biggest sub-category of assets – totaling TL16.37 trillion.
Meanwhile, deposits held at lenders in Türkiye, the largest liabilities item totaled TL 19.05 trillion, the data showed.
Pointing to lenders' minimum capital requirements, the banking sector's regulatory capital-to-risk-weighted-assets ratio – the higher the better – was at 17.66 by end-January, up from 16.89% in January 2024.
The ratio of non-performing loans to total cash loans – the lower the better – stood at 1.87% in the same month, versus 1.6% a year ago.
As of the end of January, a total of 62 state/private/foreign lenders including deposit banks, participation banks, and development and investment banks operated in the Turkish banking sector.
The sector had 209,507 employees serving at 10,958 branches both in Türkiye and overseas.
