Turkey’s banking sector registered a net profit of 33.8 billion Turkish liras ($4 billion) as of the end of June, the country’s banking watchdog said Thursday.

Total assets of the sector hit 6.7 trillion Turkish liras ($785 billion), up 10.2% from the same period last year, a report by the Banking Regulation and Supervision Agency (BRSA) said.

Loans, the biggest sub-category of assets, surged 9.5% year-on-year to 3.9 trillion Turkish liras ($469 billion) in the six-month period.

On the liabilities side, deposits held at lenders in Turkey – the largest liabilities item – totaled over 3.9 trillion Turkish liras ($469 billion), up 12% from a year ago.

Pointing to lenders’ minimum capital requirements, the banking sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – was 17.75% by the end of this June, versus 19.52% in January 2020.

The ratio of non-performing loans to total cash loans – the lower the better – was 3.66% in the same period.

As of June, a total of 52 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – operated in Turkey.

The sector had 201,280 employees serving through 11,166 branches both in Turkey and abroad with 48,722 ATMs.

Copyright 2022 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.