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.
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