Turkish banking sector sees 22% growth in net profit

In January-April 2020, Turkey-based banks’ net profit amounted to TRY 19.7 billion ($2.9 billion), up 22% from the previous year, Report informs, citing Reuters.

The assets increased by 16.4% to TRY 5.2 trillion ($769.2 billion). Of this, TRY 3.1 trillion ($458.6 billion) are loans given to customers, which increased by 16.9% in four months.

Deposit portfolio grew 16.4% to TRY 3 trillion (443.8 billion).