UPDATE - Banking Sector Net Profit Reached 515.63 Billion TL from January to October

In October, the net profit of the banking sector was 55.22 billion TL. The net profit of the sector reached 515 billion 628 million TL in the January-October period. According to the data announced by the Banking Regulation and Supervision Agency (BDDK), during the same period, the total assets of the sector increased by 31.1%, total loans by 29.7%, and total securities by 26.7%.

The announcement stated: "The ratio of loans turning into non-performing loans in the sector was 1.77% as of the end of October. Deposits amounted to 18 trillion 105.7 billion TL in October, while loans were reported as 15 trillion 143.4 billion TL.

In the banking sector, equity reached 2 trillion 659.8 billion TL, and total assets amounted to 30 trillion 884.5 billion TL during the same period. According to the data reported to our Institution by banks, in October 2024, the asset size of the Turkish Banking Sector was 30,884,697 million TL. The total assets of the sector increased by 7,333,810 million TL compared to the end of 2023.

In October 2024, the largest asset item, loans amounted to 15,143,376 million TL, and securities were 5,008,996 million TL. Compared to the end of 2023, the sector's total assets increased by 31.1%, total loans by 29.7%, and total securities by 26.7%. During this period, the ratio of loans turning into non-performing loans was 1.77%.

Among the sources of banks, deposits, which are the largest source of funds, increased by 21.9% to 18,105,670 million TL compared to the end of 2023. The total equity increased by 23.5% to 2,659,831 million TL, while the net profit of the sector for the October 2024 period was 515,628 million TL, and the capital adequacy standard ratio stood at 18.09%.