Turkey's public lenders see TL 10.85B net profit in 2019

Turkey's three state-run conventional banks – Ziraat, VakıfBank and Halkbank – posted TL 10.85 billion in net profit last year.

The total assets of the state-run banks – excluding state-run participation banks – reached nearly TL 1.5 trillion by the end of June, according to data compiled by Anadolu Agency (AA) from unconsolidated balance sheets and the country's banking watchdog.

The banks' pretax earnings totaled TL 13.4 billion in 2019, while their deposits were TL 922.5 billion as of the end of last year.

Among the three banks, Ziraat saw the highest net profit with TL 6.2 billion. Its assets totaled TL 650 billion as of the end of the year.

Vakıf Bank's net profit was TL 2.8 billion, while Halk Bank saw a net profit of TL 1.72 billion during the same period. While Vakıf's total assets amounted to TL 420 billion, Halk's total assets stood at TL 380 billion.

The banks' regulatory capital to risk-weighted assets ratio – a significant indicator in determining lenders' minimum capital requirements – was at 16.3% as of June.

The three banks' domestic and international branches totaled 3,707 combined, employing more than 60,000 staff at the end of the same period.

Meanwhile, the Turkish banking sector – including all types of lenders – posted TL 49.2 billion in net profits during the year. The total assets of Turkey's banking sector amounted to TL 4.5 trillion.

The U.S. dollar-Turkish lira exchange rate was 5.95 as of the end of the last year.