Turkey's banking sector expands
Azerbaijan, Baku, April 23 / Trend A.Taghiyeva /
The number of banks in Turkey has increased to 50 from 49 in the first quarter of 2013, according to a report from the Banks Association of Turkey published on its website on Tuesday.
Of the total, 32 are commercial, 13 are investment and five are savings banks.
Three of the 32 commercial banks are state-owned, 12 banks are private with 100 per cent Turkish capital and 17 are backed by foreign capital.
In the first quarter, the banks' branch network expanded to 495 outlets compared to the same period in 2012. Thus, the number of bank branches in Turkey was 10,300 units.
In January-March 2013, the number of employees in Turkey's banking sector grew by 1.4 per cent compared to the same period in 2012, reaching 188,700. The greatest increase in the number of employees (by 1400) was observed in banks established with the participation of foreign investment.