Turkey Banking Sector Report - Q3, 2014

November 5, 2014

The expansion rate of Turkey’s finance industry (financial and insurance) slowed to 7.1% y/y in the second quarter of 2014 from 14% y/y in the first quarter, bringing the sector’s growth to 10.7% y/y in the first half of the year. The sector’s expansion, though slower compared to the previous three quarters, was still above the economy’s overall GDP growth and pointed to a healthy banking sector in an increasingly challenging environment.

The latest official preliminary data show that the Turkish banking industry posted a net income of TRY 18.75bn (EUR 6.7bn) in the first nine months of the year. Total assets of the banking industry grew 11.4% compared to end-2013 to TRY 1,930bn at the end of September while loans amounted to TRY 1,119bn, representing a 13.4% increase over the same period. There are 50 banks in Turkey, operating through a network of 12,216 branches and 215,718 personnel as of end-September 2014.

Last year, Turkish banks’ net income rose 5.1% from 2012, amounting to TRY 24.73bn and this year, the Turkish banking system’s net income is expected to be at the same level as 2013. Turkish banks have managed to weather the global financial crisis well, and they still look healthy with strong capital adequacy ratios and low NPLs.

To view this extensive report in full including details such as —

  • Macroeconomic Analysis
  • Politics Analysis
  • Industrial sectors and trade
  • FX, Financials and Capital Markets
  • And more!

For a one-off purchase click here

For an annual subscription click here

For a free sample click here

Related Reports

Russia country report - April, 2024

Russia’s economic growth remained strong in March and even accelerated mildly. GDP growth in January amounted to 4.6% y/y (after +3.6% at the end of 2023), supported by manufacturing and wholesale ... more

Ukraine country report - April, 2024

Ukraine is running out of money, men, ammo and time. Since the US cut off its financing in January and Russia retook Avdiivka on February 17 Kyiv has lost the initiative in the war. The skies are ... more

Russia country report - March, 2024

Russia's economic growth accelerated in January 2024, expanding by 4.6% y/y, up from a 4.4% increase in December, according to the Russian Ministry of Economic Development. Both industrial ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss