Turkey’s banking sector profits rise by 8 percent to $4 billion

Published 29.06.2015 17:00

Overall profits in Turkey's banking sector increased by 8 percent to 10.9 billion Turkish liras ($4.05 billion) in May 2015 in the first five months of the year, compared with same month of the previous year.

According to figures released by the Banking Regulation and Supervision Agency (BRSA) on Monday, Turkish banks' assets increased by 17.5 percent compared with May 2014.

Total assets reached 2.175 trillion Turkish liras ($808 billion) as of May 2015 with an increase of 181.5 billion Turkish liras ($68 billion) from 2014 year-end.

Meanwhile, credits to companies and individuals increased by 10.3 percent and reached 1.36 billion Turkish liras ($505 million) in May 2015 compared with the end of last year.

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