Turkish banking net profit down by 44 pct in January

Turkish banking sector`s net profit down as its assets increased in January 2014

Turkish banking sector`s net profit down as its assets increased in January 2014

ANKARA - The net term profit of the Turkish banking sector decreased by 44 percent reaching 1.41 billion TL (US$633 million) in January of this year from US$2.52 billion TL in January 2013, Turkey`s banking authority said Monday.

According to the temporary figures released by the Banking Regulation and Supervision Agency, the size of the Turkish banking sector`s assets increased by 3.6 percent in January 2104 compared to the end of 2013.

The size of assets reached 1.794 trillion TL (US$812 billion) as of January 2014. 

The authority noted that credits by the banking sector reached 1.077 trillion TL (US$587.4 billion) in January of this year.

Copyright © 2014 Anadolu Agency