Turkish banks' profits leap 33 percent in first half of 2017

Published 17.08.2017 00:00
Updated 17.08.2017 12:30
emIHA Photo/em
IHA Photo

The profits of nine top Turkish lenders traded on Borsa Istanbul Stock Exchange (BIST) rose 32.9 percent in the first half of the year when compared to the same period in 2016, according to the Public Disclosure Platform's (KAP) data Thursday.

The deposit banks, traded on the country's main stock exchange, boasted $4.81 billion (16.96 billion Turkish liras) in net profits in the first half of 2017, up from $3.63 billion in the same period of 2016.

The Turkish lenders' total assets rose over 9 percent to $556.7 billion through June compared to the first half of 2016.

According to the the Banking Regulation and Supervision Agency (BDDK), the net profits of the Turkish banking sector increased by 33.2 percent in the first half of this year to $7.19 billion on year-on-year basis.

In total, banks' profits reached $5.49 billion.

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