Turkey: Banking sector profit up by 5.6 pct in 2015

ANKARA

The combined net profit in Turkey’s banking sector were up 5.6 percent to 23.9 billion Turkish lira ($8.22 billion) year-on-year in the first 11 months of 2015, the Banking Regulation and Supervision Agency reported on Tuesday.

Assets also increased by 17.5 percent in the same period, the report said.

Assets were at 2.346 trillion Turkish liras ($8.5 billion) as of November 2015. It is an increase of 410 billion Turkish liras ($140.8 billion) in the first 11 months of the year, the report said.

Credits increased 18.4 percent and reached 1.46 billion Turkish liras ($501billion) year-on-year for that period, the report said.

The average capital adequacy ratio at Turkish banks was 15.5 percent for that period, the report said.