(MENAFN- The Journal Of Turkish Weekly) Turkish banking sector's assets increased by 4 percent in February in terms of Turkish lira from the end of 2014, while its net profit increased by 8.6 percent.
The net profit in Turkey's banking sector increased by 8.6 percent to 3.46 billion Turkish liras ($1.32 billion) in February 2015 compared with 3.18 billion Turkish liras in February 2014.
According to figures released by the Banking Regulation and Supervision Agency Monday, the size of the Turkish banking sector's assets increased by 4 percent in February from the end of 2014.
The size of assets reached 2.073 trillion Turkish liras ($794 billion) as of February 2015, an increase of 79 billion Turkish liras from the end of 2014.
Meanwhile, loans increased 3.8 percent and reached 1.287 trillion Turkish liras ($493 billion) in February from the end of 2014. In terms of U.S. dollar value, Turkish banking sector's assets decreased in February after the Turkish lira lost more than 10 percent of its value against the U.S. dollar since January 2015.
Meanwhile, the sector's net profit increased by 52 percent to 2.15 billion Turkish liras ($857 million) in January compared with 1.42 billion Turkish liras in January 2014.
The Turkish banking sector's net profit was flat at 24.66 billion Turkish liras ($9.8 billion) in 2014, according to the banking watchdog.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.