Turkish banking sector posts 363.6 billion lira net profit in April
The Turkish banking sector's net profit reached 363.576 billion lira in April. BDDK figures reported by Anadolu Ajansı show revenue lines remained strong across the sector. Interest margins and fee income were the main drivers of the print.
Anadolu Ajansı Ekonomi · Tunahan KükürtAccording to Anadolu Ajansı Ekonomi, citing BDDK data, the Turkish banking sector's net profit reached 363.576 billion lira in April. That figure was the main contributor to profitability for the first four months of the year, with growth in net interest income as well as fees and commissions continuing. Officials also note that asset quality has been kept at a manageable level.
The data separate the share of participation banks from that of conventional deposit banks, with deposit banks still the dominant component. Credit growth remains contained under the tight monetary-policy framework, while income from treasury bill portfolios continues to occupy an important place in the revenue mix. The non-performing loan ratio is tracking in a relatively balanced range.
The central bank's interest-rate policy and the exchange-rate path will remain the key drivers of profit prints in the coming quarter. Anadolu Ajansı reports that BDDK has flagged liquidity and capital adequacy among its end-year supervisory priorities. The sector is now awaiting the May reading in the coming weeks.
More from Europe
Putin says he sees no current reason to meet Ukraine's Zelenskiy
Vladimir Putin said he currently sees no reason to meet Ukrainian President Volodymyr Zelenskiy. The remark came as European leaders intensify diplomatic pressure to end the war. Front-line developments and energy security concerns are back in focus.
Turkish Finance Minister Simsek: We will continue policies aligned with our permanent price-stability target
Following Turkey's May inflation release, Finance and Treasury Minister Mehmet Simsek said policies aligned with the country's permanent price-stability goal will continue. Annual inflation came in at 32.61%. Simsek said the disinflation process will continue with discipline.
Eurozone contracts 0.2% quarter-on-quarter in January-March amid Iran headwinds
Updated Eurostat data show the eurozone economy contracted 0.2% quarter-on-quarter in the first three months of the year. The reading came in weaker than the earlier preliminary estimate. A softening in industrial output and Iran-linked energy uncertainty are flagged as the main factors.