Banking Regulation and Supervision Agency

The combined net income of banks operating in Turkey increased by 374 percent in January-April from a year ago to stand at 98.2 billion Turkish Liras, data from the Banking Regulation and Supervision Agency (BDDK) showed.

Assets of lenders grew by 1.1 trillion liras - or 12.6 percent - compared with the end of 2021 to 10.4 trillion liras.

The combined profit of Turkey's banks increased from 16.4 billion Turkish Liras in January-March 2021 to 63.2 billion liras in the first quarter of this year, the Banking Regulation and Supervision Agency (BDDK) has said.

That corresponded to a whooping 295 percent increase in the industry's profit on an annual basis.

Mehmet Ali Akben, the head of the Turkish banking watchdog, has said that loan limits for locally produced automobiles will be expanded in the upcoming months.

The combined net profit of Turkish banks showed a strong 57 percent increase in 2021 from the previous year to reach 92 billion Turkish Liras, data from the Banking Regulation and Supervision Agency (BDDK) have shown.

Local lenders' assets grew nearly 51 percent, or by 3.1 trillion liras, last year to 9.2 trillion liras, the regulator said in a statement on Jan. 31.

The total net profit of 53 state-owned and private banks operating in Turkey in the first ten months of this year reached 66.1 billion Turkish Liras ($7 billion), the Banking Regulation and Supervision Agency (BDDK) announced on Nov. 29.

The figure was around $6 billion in the same period of 2020.

The Turkish banking sector is "very strong," said the Central Bank governor on Nov. 25 after meeting with public and private banking officials and bank CEOs.

The Turkish banking sector is also one of the most successful ones in the world, Şahap Kavcıoğlu told a group journalists after the meeting in Istanbul, Turkey's commercial capital.

Fatih Aydın, one of the founders of Çiftlik Bank (Farm Bank), an alleged Ponzi scheme that collected over 1.1 billion Turkish Liras (around $110 million) from more than 132,000 people, has been extradited to Turkey from Uruguay.

Turkish banks managed to increase their net profit by 12.8 percent on an annual basis to 48.5 billion Turkish Liras (around $5.5 billion) in the first eight months of 2021, data from the banking sector watchdog have shown.

The Turkish economy is in a steady recovery period, Treasury and Finance Minister Lütfi Elvan has told some members of the ruling Justice and Development Party (AKP) group in parliament.

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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 on Aug. 5. 

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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.