Turkish banks’ first-half net profit rises: Watchdog

Published 07.09.2017 20:45

Net profit for Turkish banks rose 27.5 percent in the same period of January to July from a year ago, by the support of net interest rates and commission fees, based on the data from Turkey's banking regulator on Wednesday.

Turkish lenders posted a 29.5 billion Turkish Lira (8.6 billion USD) net profit in the first seven months of the year, according to the data from the Banking Regulation and Supervision Agency (BDDK).

Their net profit was 22.8 billion liras a year earlier.

The lenders posted a 25.4 billion lira net profit in the first half of the year with a 33.2 percent year-on-year increase, mainly due to a significant rise in loans, which were provided to businesses in line with a number of government measures to rebound the economy.

Turkish banks' asset size hit 3 trillion liras by the end of July, data also showed.

This constituted a 266.4 billion lira increase from the end of 2016.

The sector's loans rose to 1.94 trillion liras by the end of July.

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