According to the “Unconsolidated Main Indicators of the Turkish Banking Sector” report by the Banking Regulation and Supervision Agency (BDDK) for the period of August 2022, the asset size of the banking sector in August was 12 trillion 699 billion 119 million liras. While the total assets of the sector increased by 3 trillion 483 billion 656 million TL compared to the end of 2021, the proportional equivalent of this was 37.8 percent.
Compared to the end of 2021 in August, loans, the largest asset item of the sector, increased by 35.9 percent to 6 trillion 661 billion 162 million liras, and the total securities increased by 40.8 percent to 2 trillion 79 billion 464 million liras. In this period, the NPL ratio of loans was 2.38 percent.
Deposit, which is the biggest source of funds among banks’ resources, increased by 45.9 percent in August compared to the end of 2021 and rose to 7 trillion 739 billion 399 million liras.
In the same period, the total equity reached 1 trillion 144 billion 109 million liras with an increase of 60.3 percent. The capital adequacy standard ratio was 18.69 percent.
ERDOĞAN: MY BIGGEST WAR IS WITH INTEREST
The surprise rate cut decision of the Central Bank of the Republic of Turkey (CBRT) continues to resonate in the global markets. On the other hand, TL has lost more than 30 percent of its value since the beginning of the year.
President of the AKP, Recep Tayyip Erdoğan, in his speech at the 21st Ordinary General Assembly of the Confederation of Turkish Tradesmen and Craftsmen (TESK), today in Ankara, “My biggest fight is with interest, my biggest enemy is interest” said.
“We lowered the interest rate to 12 percent. Is it enough, it has to go down even more” Erdogan said:
“We talked to our Central Bank. I suggest that this should go down even more in the upcoming PPK meetings.” used the phrases.
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