BRSA Data: Banking Sector Reaches Net Profit of 515.62 Billion TL by the End of October

The Banking Regulation and Supervision Agency (BRSA) has published the Turkish Banking Sector Interactive Monthly Bulletin. The report states that as of October 2024, the total assets of the Turkish banking sector have reached 30.88 trillion TL. This figure represents an increase of 7.33 trillion TL compared to the end of 2023. The largest asset item in the sector is loans, amounting to 15.14 trillion TL, while total securities exceeded 5 trillion TL.

The growth rate of total assets in the banking sector was recorded at 31.1% compared to the end of 2023, with loans increasing by 29.7% and securities by 26.7%. The ratio of non-performing loans was reported to be 1.77%, highlighting banks' effectiveness in managing credit risks.

Significant increase in deposits and equity Deposits, which form the largest funding source among banks, rose to 18.1 trillion TL with a 21.9% increase compared to the end of 2023. This growth indicates the sustainability of banks' deposit collection capacity. Simultaneously, the sector's total equity increased by 23.5%, reaching 2.66 trillion TL. This increase shows that banks have a strong financial structure and are enhancing their capital reserves.

The net profit of the banking sector for the period of October 2024 was recorded at 515.62 billion TL. The standard capital adequacy ratio was determined to be 18.09%, indicating that financial stability has been maintained. The strong performance of the banking sector reinforces confidence in the economy, providing a safe platform for investments and financial transactions.