Turkey’s banking sector recorded 15.1 billion Turkish liras ($2.4 billion) net profits as of end-February, the country’s banking watchdog said Monday.

Total assets of the sector jumped 20% year-on-year to 4.7 trillion Turkish liras ($759.7 billion), the Banking Regulation and Supervision Agency (BRSA) report revealed.

Loans, the biggest sub-category of assets, amounted to 2.8 trillion Turkish liras ($447 billion), a 14.5% rise from last year.

On the liabilities side, deposits held at lenders in Turkey — the largest liabilities item — totaled 2.7 trillion Turkish liras ($433.6 billion), rising 29% on an annual basis.

The U.S. dollar/Turkish lira (USD/TRY)

Read more: Turkey: Banks register $2.4B net profit in Feb-Jan