Turkish banks post $4.3b net profit in March



Turkish banks saw a net profit of TL 63.2 billion ($4.3 billion) in March, the country’s banking watchdog said.

Total assets of the Turkish banking sector reached TL 10.2 trillion ($695.4 billion) last month, up from 4.9 trillion Turkish liras a year ago, according to the latest data from the Banking Regulation and Supervision Agency (BDDK).

Loans, the largest sub-category of assets, amounted to 5.5 trillion Turkish liras with a 90% year-over-year rise.

On the liabilities side, deposits held at lenders in Turkey – the largest liabilities item – reached nearly TL 6 trillion, more than doubling from the same month last year.—Daily Sabah