Turkey’s banks see 14 pct drop in net profits

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The net profits of Turkey’s banking sector saw a year-on-year decline of 14 percent in the first eight months of 2019, falling to TL 32.8 billion ($5.66 billion), according to the Banking Regulation and Supervision Agency (BDDK), the Diken news website reported on Monday.

According to figures provided by the country’s banking watchdog, the sector’s loans dropped by 6.1 percent and assets reached TL 4.27 trillion ($808.87 billion) in the month of August.

The non-performing loan ratio rose from 2.85 last August to 4.64 in the same month this year.

The sector’s capital adequacy ratio was reported to be 18 percent.

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