Turkey's central bank tripled net profit last year

Published 25.02.2019 00:06

The Central Bank of Turkey (CBRT) on Saturday announced it posted a net profit of nearly TL 56.3 billion in 2018.

The bank's net profit surged over 200 percent year-on-year, up from some TL 18.4 billion in 2017.

According to the CBRT's 87th accounting period balance sheet, the bank's assets totaled TL 721.5 billion, rising 13.2 percent on a yearly basis.

Gold assets in international standard amounted to 488.5 tons, worth TL 105.9 billion as of Dec. 31, 2018. The U.S. dollar to Turkish lira exchange rate was 5.26 at the end of last year, versus 3.80 at the end of 2017.

Last month, the bank held an Extraordinary General Assembly Meeting to distribute a TL 33.7 billion lira advance dividend to shareholders.

The CBRT's General Assembly meeting is normally held in April, but this meeting was held in January to provide liquidity for the market earlier.

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