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Turkish banking sector’s profit increases by over 15 percent

Business Materials 13 November 2013 16:56

Baku, Azerbaijan, Nov. 13
Rufiz Hafizoglu-Trend: The total profit of Turkey's banks increased by 16.2 percent reaching 19.851 billion lira during nine months of 2013, compared to the same period of 2012, the report of the Turkish Banking Regulation and Supervision Agency (BDDK), posted on its website said on Nov. 13.
Acording to the report, during nine months of 2013 the profit of the Turkish banking sector increased by 20.3 percent to 1.649 trillion lira compared to the same period last year.

The total loan portfolio of the Turkish banking sector during nine months of 2013 amounted to 990.4 billion lira.

Currently there are 49 banks operating in Turkey, of which three are state-owned, 12 are private, 17 are foreign-invested, four are Islamic and 13 are investment banks.

The official exchange rate is 2.05 TRY/USD on Nov.13.

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