Turkey’s participation banks’ profits jump 33 pct
The assets of Kuveyt Türk, Albaraka, Türkiye Finans, Ziraat and Vakıf soared 29 percent to reach 206.6 billion Turkish liras as of December on a yearly basis.
Their deposits also rose 30.1 percent to 136.6 billion liras as of December, compared with the same month last year.
Loans issued by the banks rose 15 percent to reach nearly 112.5 billion liras during the first 12 months of 2018 on a yearly basis.
Among five banks, Kuveyt Türk saw the highest net profit with 869.8 million liras, up by 29 percent year-on-year in 2018.
Türkiye Finans recorded 444.75 million liras in net profit. State-run Vakıf’s net profit reached 325.4 million liras.
Another state-run Ziraat bank and private lender Albaraka followed with 322.66 million and 133.97 million liras net profit, respectively.
Over 1,100 branches
Participation banks’ regulatory capital to risk-weighted assets ratio - a significant indicator to figure out minimum capital requirements of lenders - was at 15.75 percent as of December.
The total number of five banks’ domestic and international branches was 1,122, while they employed around 15,654 staff as of end of last year.
Meanwhile, the Turkish banking sector - including all type of lenders - posted a 53.8 billion liras net profit in the 12-month period.
The total assets of Turkey’s banking sector amounted to 3.87 trillion liras.
Loans, the biggest sub-category of assets, rose some 14 percent to reach 2.39 trillion liras.
Deposits held at lenders in Turkey - the largest liabilities item - totaled 2.03 trillion liras, showing an annual hike of 19 percent.
The sector had more than 207,700 employees, serving through over 11,500 branches both in Turkey and overseas with some 48,500 ATMs.