Monday, Sep 28

Turkey's state-run banks reports 1.31-billion-dollar net profit

In the first half, the peak period of the novel coronavirus pandemic, state-run lenders eased loan conditions to support citizens against the outbreak's economic effects on the economy.
26.08.2020 - 13:08

Three conventional state-run banks in Turkey -- Ziraat, VakifBank and Halkbank -- posted a combined net profit of 9.5 billion Turkish liras ($1.31 billion) in the first six months of this year.

The total assets of state-run banks -- excluding state-run participation banks -- reached 1.93 trillion Turkish liras ($266.9 billion) by the end of June, according to data compiled by Anadolu Agency from unconsolidated balance sheets.

BANKS' DOMESTIC AND INTERNATIONAL BRANCHES TOTALED 3,706 COMBINED

The three banks' deposits totaled 1.32 trillion Turkish liras ($182 billion) as of the end of the first half, while loans provided by the banks amounted to 1.29 billion Turkish liras ($178 million).

Among the three banks, Ziraat saw the highest net profit with 4.5 billion Turkish liras ($622 million) during the six-month period. Its assets totaled 796.6 billion Turkish liras ($110.2 billion) as of the end of June.

VakifBank's net profit was 3.24 billion Turkish liras ($448 million), while Halkbank saw a net profit of 1.77 billion Turkish liras ($245 million) during the same period.

While VakifBank’s total assets amounted to 538.7 billion liras ($74.5 billion), Halkbank’s total assets stood at 595.7 billion ($82.4 billion). The banks' regulatory capital to risk-weighted assets ratio -- a significant indicator in determining lenders' minimum capital requirements -- was at 17.59% as of June.

The three banks' domestic and international branches totaled 3,706 combined, employing more than 60,000 staff by the end of the same period.