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Profits of banking sector increase by more than 10 per cent in Turkey

Business Materials 15 November 2012 16:16 (UTC +04:00)

Azerbaijan, Baku, Nov 15 /Trend A.Taghiyeva/

Profits of the banking sector in Turkey increased by 46 per cent in the third quarter of 2012 compared to the same period in 2011, amounting to 3.8 billion lira, the Central Bank of Turkey said on Thursday.

The profit of the banking sector has grown by 11.4 per cent in January - September 2012 compared to the same period in 2011, amounting to 11.5 billion lira.

The largest gains in the third quarter of 2012 were recorded by private bank Akbank. The bank's profits increased by 69 per cent to 779 million lira. Garanti Bank profits also increased by 52 per cent to 733 million lira.

The highest growth in profits was observed in İş Bankası bank by 103 per cent to 684 million lira.

The profit of the state bank of Turkey Halkbank, put up for privatisation, increased by 19 per cent to 600 million lira. The profit of Yapı Kredi bank increased by 33 per cent to 542 million lira.

Official exchange rate on November 15 is 1.7936 TRY/USD

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