Turkey: Banking sector posts $3.4B net profit in Jan-May

ANKARA

Turkey's banking sector net profit totaled 19.7 billion Turkish liras (nearly $3.4 billion) in January-May this year, the country's banking watchdog reported Thursday.

According to the Banking Regulation and Supervision Agency, total assets of the sector surged 17.3% year-on-year to reach 4.27 trillion Turkish liras ($732 billion).

Loans -- the biggest sub-category of assets -- went up 8.9% on a yearly basis to amount to some 2.55 trillion Turkish liras ($437 billion).

On the liabilities side, deposits held at lenders in Turkey were 2.27 trillion Turkish liras (some $390 billion) in the five-month period, marking an annual hike of 19.8%.

The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 5.93 at the end of May this year, versus 4.49 at the end of the same month in 2018.

ANKARA

Turkey's banking sector net profit totaled 19.7 billion Turkish liras (nearly $3.4 billion) in January-May this year, the country's banking watchdog reported Thursday.

According to the Banking Regulation and Supervision Agency, total assets of the sector surged 17.3% year-on-year to reach 4.27 trillion Turkish liras ($732 billion).

Loans -- the biggest sub-category of assets -- went up 8.9% on a yearly basis to amount to some 2.55 trillion Turkish liras ($437 billion).

On the liabilities side, deposits held at lenders in Turkey were 2.27 trillion Turkish liras (some $390 billion) in the five-month period, marking an annual hike of 19.8%.

The U.S. dollar/Turkish lira (USD/TRY) exchange rate was around 5.93 at the end of May this year, versus 4.49 at the end of the same month in 2018.