ISTANBUL - The total balance sheet of the Turkish banking sector has grown 64 billion YTL in the first 9 months of 2006.
According to a report titled "Turkish Banking System in September 2006" published by the Turkish Banks Association, foreign interest in investments in Turkish banking system continued in the first 9 months of 2006 and the share of banks with foreign capital in the sector continued to increase.
While the number of branches and employees rose, the total assets of the Turkish banking system reached 461 billion YTL.
The total market value of the financial institutions dropped from 62 billion USD by the end of 2005 to 50,4 billion USD in the first nine months of 2006.
The report suggests the fluctuations in the financial sector in May and June affected the balances. This effect began in the second quarter of 2006 and became obvious in the third quarter. (1 USD = 1.42 YTL)