The Turkish banking sector's net profits totaled nearly TL 45.9 billion ($8.3 billion) in the January-October period, the country's banking watchdog reported yesterday.

The banking sector's 10-month net profit climbed 11.5 percent annually, up from TL 41.2 billion over the same period in 2017, according to the Banking Regulation and Supervision Agency (BDDK).

The banking sector's total assets amounted to TL 3.99 trillion as of Oct. 31 this year, surging 25.9 percent on a yearly basis.

As the biggest subcategory of assets, loans rose by 20.4 percent to reach TL 2.46 trillion during the same period.

On the liabilities side, deposits held by lenders in Turkey were TL 2.06 trillion, showing an annual hike of 22.2 percent.