Deposit banks achieve TL 12.8B profit in BIST

Deposit banks traded on the Borsa Istanbul Stock Exchange (BIST) reached TL 12.8 billion in profit for the first half of the year, marking an increase of 43 percent compared to the same period last year.

According to data from the report named "June 2016 - Deposit Banks in Borsa Istanbul" published by the Banks Association of Turkey (TBB), the number of deposit banks traded on the BIST totaled 10 in June. These banks include 71 percent of branch offices and employ 72 percent of the personnel in the banking sector, with a total number of 7,755 offices and 139,940 personnel across Turkey. The cumulative assets of the deposit bank-traded in BIST reached TL 1.6 trillion as of June, increasing by 11 percent compared to the same period last year. During the first half of the year, liquid assets grew by 12 percent when compared to the previous year.

While there was a noteworthy increase in cash reserves, receivables from money markets shrunk. During the same period, security portfolios increased by 7 percent, and loans by 11 percent. The share of loans in total assets reached 65 percent in June, a one percent increase compared to the previous quarter. Non-performing loans and special provisions showed a 29 percent annual increase when compared to June 2015.