Turkey: Banking sector net profit at $8.1B in Jan-Nov

ISTANBUL

The Turkish banking sector’s net profits this January-November totaled 46.6 billion Turkish liras ($8.1 billion), the country’s banking watchdog said Monday.

The figure fell 8% year-on-year in the first 11 months of 2019, the Banking Regulation and Supervision Agency data showed.

Total assets of the sector amounted to 4.35 trillion Turkish liras ($760.7 billion), up 13.3% over the same period last year.

Total banking sector loans — the biggest sub-category of assets — soared 8.8% year-on-year to hit 2.6 trillion Turkish liras ($453.7 billion) in January-November.

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