Turkey: Banking sector posts $2.2B net profit in Q1

ANKARA

Turkish banking sector's net profit totaled some 12.35 billion Turkish liras ($2.2 billion) in the first quarter of 2019, the country's banking watchdog reported Tuesday.

According to the Banking Regulation and Supervision Agency, total assets of the sector rose by 22.6% on a yearly basis to reach 4.14 trillion liras ($740 billion).

Amounting to some 2.52 trillion liras ($450 billion), loans -- the biggest sub-category of assets -- surged 14.6% year-on-year.

On the liabilities side, deposits held at lenders in Turkey were 2.21 trillion Turkish liras ($395 billion) in the three-month period, marking an annual hike of 24.2%.

The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 5.55 at the end of March this year, versus 4.00 at the end of the same month in 2018.

ANKARA

Turkish banking sector's net profit totaled some 12.35 billion Turkish liras ($2.2 billion) in the first quarter of 2019, the country's banking watchdog reported Tuesday.

According to the Banking Regulation and Supervision Agency, total assets of the sector rose by 22.6% on a yearly basis to reach 4.14 trillion liras ($740 billion).

Amounting to some 2.52 trillion liras ($450 billion), loans -- the biggest sub-category of assets -- surged 14.6% year-on-year.

On the liabilities side, deposits held at lenders in Turkey were 2.21 trillion Turkish liras ($395 billion) in the three-month period, marking an annual hike of 24.2%.

The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 5.55 at the end of March this year, versus 4.00 at the end of the same month in 2018.