The net profit of Turkey’s banking sector totaled 41.3 billion Turkish liras ($7.24 billion) in January-October, the country’s banking watchdog said Friday.

The figure was down 10% on an annual basis in the first ten months of this year, the Banking Regulation and Supervision Agency (BDDK) data showed.

Total assets of the sector amounted to 4.3 trillion Turkish liras ($758.97 billion), rising by 8.3% over the same period last year.

Banking sector’s total loans — the biggest sub-category of assets — increased by 4% year-on-year to hit 2.56 trillion Turkish liras ($450.3 billion) in the January-October period.

Read more: Turkey: Banking sector net profit at $7.24B in Jan-Oct