Türkiye's banking sector achieves net profit of USD18.77B last year
(MENAFN) Türkiye's banking sector achieved a net profit of 658.97 billion Turkish liras (USD18.77 billion) in 2024, according to data released by the country's banking regulatory authority on Thursday. This represents a 6.2 percent increase compared to the previous year, reflecting positive growth within the sector despite challenging economic conditions. The Banking Regulation and Supervision Agency (BDDK) reported this notable achievement as a key indicator of the sector’s performance over the year.
The total assets of Türkiye's banking sector reached 32.67 trillion liras (USD929.59 billion) by the end of December 2024, marking a significant 38.7 percent growth compared to the previous year. Among the major asset categories, loans, which are the largest, totaled 16 trillion liras (USD457.03 billion), showing a 37.1 percent year-on-year increase. Deposits, representing the largest liabilities item in the sector, amounted to 18.9 trillion liras (USD538.47 billion), which is a 27.3 percent rise from the previous year.
The banking sector also maintained a healthy regulatory capital-to-risk-weighted-assets ratio, which stood at 19.07 percent at the end of 2023, slightly down from 19.69 percent in December 2024. This ratio reflects the capital reserves banks are required to hold to cover potential risks. The ratio of non-performing loans, an important indicator of credit quality, stood at 1.78 percent at the end of 2024, up from 1.6 percent the previous year, indicating a slight deterioration in loan performance.
By the end of 2024, a total of 61 lenders, including state-owned, private, and foreign banks as well as development and investment banks, operated in Türkiye’s banking sector. The sector employed a total of 208,729 staff, serving customers through 10,950 branches located both domestically and internationally.
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