Turkish banking raises its Q2 profit 33 percent

Hurriyet Daily News – The Turkish banking industry is proving to be a high-profit business as its profit rose 33 percent to TRY 11 billion in the second quarter of the year. The sector raised its net profit to TRY 11 billion, according to the quarterly Financial Markets Report prepared by the Banking Regulation and Supervision Agency (BRSA). The sector’s deposit, participation and loan credit customers increased in the second quarter of the year. The proportion of non-performing credit card customers to total credit card customers reached eight percent over the period, according to the report. The sector’s total loans rose 7.4 percent in June over the corresponding period last year, to TRY 368 billion. In line with the slowdown of loans, the banks’ tendency to increase their placements in securities has continued. Deposits, which constitute the sector’s most important foreign resource, reached TRY 468 billion. The sector maintains its robust equity capital structure. In June, its aggregate equity capital reached TRY 98 billion. In the first half of the year, the sector’s equity capital was 18 percent and its return on assets 2.2 percent.