Banking sector achieves net profit of TL 2.2 billion in first 5 months 2017

In the first five months of the year, the banking sector achieved a net profit of TL 21.2 billion, an increase of 14.7% in return on equity. June profit is expected to accrue US$ 1 billion less. It was reported that the remarkable increase in profitability in the first half of 2017 was due to the substantial growth in loans (credit) granted as compared to 2016.

The net profit of the sector increased by 50 percent in January-May this year compared to the same period of 2016, reaching 21 billion 173 million Turkish Liras. May profits increased by 19 percent to TL 3.7 billion.

Bankers said that there was not a significant change in the interest margin of the sector adding the profit increase in the first half had come from the growth of loans used by customers.

MEDIA