The combined net income of Turkey's banks increased by 31% y/y to TRY49.1bn (€11bn) in 2017, data from banking sector watchdog BDDK showed on January 30.
The lenders' assets rose by 19% y/y to hit TRY3.26tn while their total lending increased by 18% to stand at TRY2.05tn at end-2017.
The industry’s capital adequacy ratio rose to 16.9% from 15.6% at end-2016.
The banking industry’s combined net income was TRY37.5bn in 2016, up 44% from 2015.
Turkish banks’ profit growth in 2017 was expected to be between 15% and 20%, Huseyin Aydin, head of the Banks Association of Turkey (TBB), said in August.
In its Financial Stability Report, published last November 30, the Turkish central bank said that it saw the country’s banking industry remaining resilient despite potential risks.
“The developments in the monetary policies of advanced countries, global geopolitical risks and political developments in the Euro Area are among the possible factors of fragility for the financial system. Nevertheless, it is assessed that the Turkish banking sector will remain resilient against such risks thanks to its strong capital base, stable asset quality and adequate level of liquid assets,” the national lender said.