Turkey's state-run lenders see $1.82B net profit in 2019

ISTANBUL

Three conventional state-run banks in Turkey — Ziraat, VakifBank and Halkbank — posted 10.85 billion Turkish liras ($1.82 billion) in net profit last year.

The total assets of state-run banks — excluding state-run participation banks — reached nearly 1.5 trillion Turkish liras ($250 billion) by the end of June, according to data compiled by Anadolu Agency from unconsolidated balance sheets and the country’s banking watchdog.

The banks’ pretax earnings totaled 13.4 billion Turkish liras ($2.25 billion) in 2019, while their deposits were 922.5 billion Turkish liras ($155 billion) as of the end of last year.

Among the three banks,

Read more: Turkey's state-run lenders see $1.82B net profit in 2019