Banking sector profits up by 5.6 pct in 2015

ANKARA

The combined net profit of Turkey’s banking sector was up 5.6 percent, reaching approximately 24 billion Turkish Liras ($8.2 billion) year-on-year in the first 11 months of 2015, the Banking Regulation and Supervision Agency (BDDK) said in a written statement on Dec. 29.

Assets also increased by 17.5 percent in the same period, added the statement. 

Assets were around 2.4 trillion liras ($824 billion) as of November 2015, marking an increase of 352.2 billion liras ($120 billion) in the first 11 months of the year.

Credit increased 18.4 percent and reached 1.46 trillion liras ($501 billion) year-on-year for that period, according to the statement. 

While the average capital adequacy ratio at Turkish banks was 15.29 percent in October, this figure rose to 15.52 percent in November, the statement said.