Banking industry in Turkey earns USD9.69B in first half of 2023

2023-08-01 07:57:01

(MENAFN) The banking industry in Turkey earned 250.3 billion Turkish liras (USD$9.69 billion) in the first half of this year, according to the the nation's banking authority on Monday.

According to statistics from the Banking Regulation and Supervision Agency, the sector's net profit increased 479 percent from 169.15 billion Turkish liras (USD585 million) in the same time span a year ago.

In accordance with the data, total sector assets increased 63 percent year on year to 19.1 trillion Turkish liras (USD739.55 billion) at the close of June.

Loans, the largest asset sub-category, totaled 10.09 trillion Turkish liras (USD387.55 billion), a 60.09 percent increase over the same time a year earlier.

On the liabilities side, deposits maintained with Turkish lenders were almost 11.65 trillion Turkish liras (USD451.05 billion), an increase of 71.5 percent year on year.

In line with Turkish Central Bank statistics, the US dollar/Turkish lira rate of exchange was 26.98 at the close of June this year, while 16.7 at the ending of June last year.

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