Turkish Banking Sector Hits Record Assets, Boosts Profits in 2022
In August 2022, the Turkish banking sector, overseen by the Banking Regulation and Supervision Agency (BRSA), comprised various entities operating under the country's Banking Law. This diverse sector included state-owned, private, and foreign banks, with a total of 66 lenders serving through 10,796 branches. The sector's total assets reached an impressive 41.8 trillion liras ($1.02 trillion).
The sector's regulatory capital-to-risk-weighted-assets ratio stood at a robust 18.25 percent, indicating strong capitalisation. Deposits, the largest liabilities item, amounted to 23.99 trillion liras, reflecting customers' trust in the sector. Notably, net profits surged by 21.3 percent year-on-year, totalling 563.4 billion Turkish liras ($13.76 billion). This growth was supported by a low non-performing loans ratio of 2.22 percent, demonstrating the sector's financial health. The banking sector employed 211,255 staff, showcasing its significant contribution to the Turkish economy.
Organisationally, banks operated through corporate governance structures, adhering to regulatory requirements. These structures consisted of boards and executive management teams, ensuring effective oversight and decision-making.
The Turkish banking sector, with its diverse range of lenders and robust financial performance, plays a crucial role in the country's economy. Its strong capitalisation, low non-performing loans ratio, and significant employment contribution underscore its resilience and importance. As of August 2022, the sector's total assets and deposits reached substantial heights, reflecting its growth and customers' confidence.
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