Net profit in banking sector increases

ANKARA - Anadolu Agency

REUTERS Photo.

The net profit in Turkey’s banking sector increased by 52 percent to 2.15 billion Turkish Liras ($857 million) in January compared with 1.42 billion liras in January 2014.

According to figures released by the Banking Regulation and Supervision Agency (BDDK) on March 2, the size of the Turkish banking sector’s assets increased by 1.9 percent in January from the end of 2014. The size of assets totaled 2.032 trillion liras ($810 billion) as of January 2015, an increase of 38 billion liras from the end of 2014.

Meanwhile, loans increased 1.2 percent and reached 1.255 billion liras ($500 billion) in January from the end of 2014. The lira has lost more than 30 percent of its value against the U.S. dollar since January 2014.