Banks’ Net Profit Reaches 153.5 Billion Lira in March
The Banking Regulation and Supervision Agency (BRSA) has recently released the “Unconsolidated Main Indicators of the Turkish Banking Sector” report for the period of March 2024. According to this report, the Turkish banking sector’s asset size reached 25 trillion 872 billion 823 million lira in March 2024, showing an increase of 2 trillion 322 billion 590 million liras compared to the end of 2023.
The largest asset item in the sector during this period was loans, totaling 12 trillion 930 billion 367 million liras, followed by securities at 4 trillion 440 billion 877 million liras. The total assets of the sector saw a 9.9 percent increase compared to the end of 2023, with total loans and securities increasing by 10.7 percent and 11.9 percent, respectively.
The conversion rate of loans to non-performing loans stood at 1.49 percent during this period. Deposits, which are the primary source of funds for banks, increased by 4.2 percent compared to the end of 2023, reaching 15 trillion 469 billion 910 million lira.
The total equity capital of the banking sector increased by 6.6 percent to 2 trillion 294 billion 274 million liras by the end of March 2024. The sector’s net profit for the period was reported at 153 billion 524 million lira, with a capital adequacy standard ratio of 16.96 percent.
These indicators reflect a positive growth trend in the Turkish banking sector and indicate a strong financial performance for the period of March 2024. It will be interesting to see how these numbers evolve in the coming months and what the future holds for the sector.
