Size of deposit banks traded on BIST increases by TL 246B
- DAILY SABAH WITH AA, ISTANBUL
- Aug 28, 2018
A total of 10 deposit banks traded on the Borsa Istanbul Stock Exchange (BIST) saw their total size increasing TL 246 billion ($39.75 billion) to reach TL 2.44 trillion in the first six months of this year.
According to data compiled by Anadolu Agency (AA), the non-consolidated total size of 10 deposit banks, including Akbank, DenizBank, Garanti Bank, Halkbank, ICBC Turkey Bank, İş Bank, QNB Finansbank, Şekerbank, VakıfBank and Yapı Kredi, has increased by TL 246.3 billion in the said period.
The total asset size of the banks stood at TL 2.19 billion at the end of last year. The figure increased by 11.2 percent to TL 2.44 billion as of the end of June this year.
Moreover, the net profit of deposit banks traded on BIST was up 13.3 percent to around TL 19.58 in the January-June period compared to the same period last year. The same figure stood at around TL 17.29 billion.
The banks' equity rose by 9.4 percent in the said period to TL 232.43 billion. The average return on equity of the banks was 14.2 percent at the end of June.
Garanti Bank achieved the highest net profit among deposit banks with TL 3.9 billion, followed by İş Bank with TL 3.33 billion and Akbank with TL 3.28 billion.
QNB Finansbank increased its net profit the most compared to the same period last year with 39.9 percent, followed by Şekerbank with 38.3 percent and ICBC Turkey with 37.3 percent.
Ziraat Bank, which is not traded on the stock exchange, maintained its title as the bank with the largest asset size in Turkey with around TL 497.57 billion. In the first half of this year, the bank's net profit declined by 8.8 percent to some TL 3.95 billion from TL 4.34 billion in the same period last year.
Ziraat Bank's first half profit corresponds to one fifth of the total profit of the 10 deposit banks traded on the stock exchange. The bank's average return on equity was 15.6 percent at the end of June.
Meanwhile, according to data from the Banking Regulation and Supervision Agency (BDDK), the net profit of the Turkish banking sector increased by 14 percent in the first half of this year to TL 28.92 billion compared to the same period of the previous year.
The same figure stood at around TL 25.36 billion in the first six months of last year.