Banking sector profits up 40 percent

Published 03.08.2016 23:38

The net profit of the banking sector soared by 39.6 percent over profits for the same period last year. The sector's net profit for the six-month period from January to June totaled TL 19.03 billion.

According to a report from the Banking Regulation and Supervision Agency (BDDK), the net profit for the Turkish banking sector rose to TL 19.03 billion for the first six months of the year from TL 13.6 billion for the same period last year.

The total assets held by the banks increased to TL 2.45 trillion, from TL 2.41 trillion at the end of the previous month. The loans held by the banking sector soared to TL 1.570 trillion from TL 1.507 trillion. The capital adequacy ratio stood at 15.86 percent, and the minimum capital adequacy ratio was realized at 13.65 percent. For the previous month, the capital adequacy standard ratio was 15.45 percent and minimum capital adequacy ratio was 13.28 percent.

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