Banks’ 8-month profit at 383 billion Turkish Liras

ANKARA

The Turkish banking sector's net profit stood at 382.77 billion Turkish Liras ($11.3 billion) in January-August, the country's banking watchdog has said.

The sector's overall assets amounted to 29.69 trillion liras, up 26.1 percent in the eight-month period versus the end of 2023, the Banking Regulation and Supervision Agency (BDDK) said.

Loans, the largest item under assets, totaled 14.64 trillion liras, rising 25.4 percent.

The share of non-performing loans — lower is better — in total loans came in at 1.69 percent.

Deposits, banks' biggest source of funds, rose 17.6 percent compared to the end of the previous year to 17.46 trillion liras.