Politics of Turkey

The combined net profit of Turkish banks amounted to 233.6 billion Turkish Liras in the January-May period, rising 23 percent from a year ago, according to data from the Banking Regulation and Supervision Agency (BDDK).

In May alone, banks posted a net income of 42.93 billion.

An average home price in Türkiye was 3.4 million Turkish Liras ($103,000) in May, according to the numbers from Endeksa, which compiles data on the real estate market.

Home prices rose 48.47 percent annually, while the monthly increase was 0.36 percent.

Turkish Defense Minister Yasar Guler has reiterated Turkey's resolve to protect its rights within the so-called Blue Homeland region. 

"As we persist in combating terrorism, we safeguard our borders. And without any compromise, we defend our rights and interests in the Blue Homeland," he said.

The combined net income of Turkish banks increased by 32 percent in the first four months of 2024 from a year ago to 190.7 billion Turkish Liras ($5.94 billion), show data from the Banking Regulation and Supervision Agency (BDDK).

Total assets in the banking industry grew by 11.4 percent compared with the end of 2023 to reach 2.69 trillion liras as of April.

Turkey will not neglect its energy interests in the eastern Mediterranean and Libya, despite prioritizing the natural gas Sakarya field in the Black Sea, Turkish Energy Minister Alparslan Bayraktar said on Thursday.

Turkey's Ministry of Education is also including the Turkey-Libyan maritime memorandum in the new educational program for school students, along with the "Blue Homeland" dogma that expresses Ankara's claims in the Aegean and the Eastern Mediterranean.

President Recep Tayyip Erdoğan has emphasized his administration's commitment to achieving a lasting reduction in inflation.

"The main priority of our economic program is to increase the welfare of our nation by reducing inflation to single digits," Erdoğan said during an event in Istanbul on May 25.

The combined profit of Turkish banks increased by 44.7 percent in the first quarter of 2024 from a year ago to 153.5 billion Turkish Liras ($4.8 billion).

Assets of lenders grew by 9.9 percent, or by 2.3 trillion liras, from the end of 2023 to reach 25.87 trillion liras, the Banking Regulation and Supervision Agency (BDDK) said.

Expenditures of domestic travelers amounted to 229.8 billion Turkish Liras last year, rising 101 percent from 2022, data from the Turkish Statistical Institute (TÜİK) have shown.

Individual expenditures increased by 102 percent to more than 209 billion liras, while package tour expenditures were up 92 percent to 20.7 billion liras, the statistics authority said on April 24.

Türkiye's 12-month cumulative current account deficit probably shrank further in February, according to Trade Minister Ömer Bolat.

"When the data for February is released, we will see the annualized current account deficit decline to around $32 billion," Bolat said.