Banks increase profits by nearly 50 pct

The net profits of banks for the January-November period soared by 46.6 percent, hitting over TL 35 ($9.9) billion. The net profit of banks in November is reported to be TL 2.98 billion and TL 3.17 billion in October. According to the monthly data released by Banking Regulation and Supervision Agency (BDDK), the loans of banking sector reached TL 1.7 trillion at the end of November by surging 16 percent in comparison to the same month of 2015 and by 4.2 percent when compared to October.

By the end of November, loans in Turkish lira soared by 10.6 percent in comparison to the same month of the previous year, climbing to TL 1.1 billion. When the increase in loans compared to October, the hike is observed to be 1.7 percent. The volume of assets in the sector increased by 15.2 percent compared to the same period of 2015, reaching TL 2.7 billion. The assets soared by 4.2 percent in comparison to the previous month.

The capital adequacy ratio (CAR) of the banking sector decreased by 25 basis points in comparison to the same period of the previous year, hitting 15.27, and fell by 68 basis points when compared to the previous month. The ratio of gross non-performing loans to total loans drop by 19 basis points at the end of November, standing at 3.24 and fell by 10 basis points compared to the figures at the end of October. Meanwhile, according to the weekly data released by Central Bank of Republic of Turkey, the total deposits of the banking sectors increased by TL 1 billion 876 million last week, securing around TL 1.5 trillion.