Banking sector’s net profit jumps 19.7 pct in first six months

ANKARA

The Turkish banking sector’s net profit jumped 19.7 percent year-on-year to 13.86 billion Turkish Liras (around $7.2 billion) in the first half of the year, mainly due to the rise in net interest revenues and the positive developments in the balance of non-interest income and expenses, the Banking Regulation and Supervision Agency (BDDK) announced yesterday by a written statement.

Of the 49 banks carrying out operations in Turkey, 21 have managed to increase their profits over the last 12 months.

Loans up 15.9 pct

The sector’s loans increased 15.9 percent from the end of last year to 921.2 billion liras at the end of June.

The size of the banking sector’s assets reached 1.53 trillion liras in the first half of 2013 by around 11 percent of increase compared to the end of 2012.

The Turkish banking sector’s net profit stood at 23.6 billion liras ($13 billion) in 2012.