Published On: Sat, Mar 10th, 2018

Turkish Banking Sector makes a good start in 2018 with record high profit in January

It is reported that the Turkish Banking Sector has made a very good start in 2018 with a record high net profit of TL 4.5 billion in January. The sector enjoyed an interest income of TL 24 billion with a total interest cost of TL 13,5 billion, only. Based on data provided by BDDK (Banking Regulation and Supervision Agency), the banks in the sector achieved the highest January figure with a net profit of TL 4 billion 537 million.

The total interest income of the sector in January increased by 27.9 percent compared to the same month of 2017. The interest income of the banks which was 18.8 billion liras in January 2017 rose to 24.1 billion liras in the first month of this year.

The banks in the sector had an interest income of 19.4 billion TL from the credits in the first month of the year. This income was composed of consumer loans of 4.4 billion liras, credit cards of 819 million liras, commercial lending of 2.9 billion liras and interest received from other loans of 11.3 billion liras.

The interest revenues banks received from installment commercial loans increased by 55 percent compared to the same month last year.

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