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Finance

Finance

Developments in the banking sector
In 2017, Turkey’s economy grew above expectations supported by government initiatives.

The banking sector was also supported by a range of measures taken by the government and regulators during 2017, including widening of the scope of the Credit Guarantee Fund and easing regulations. Thus, the sector maintained its strong foundations.

In this period, total loan volume expanded by 21% year-on-year to TL 2,021 billion with the support of the Credit Guarantee Fund while total deposits reached TL 1,605 billion with 17% growth.

Asset quality improved and non‑performing loan ratio amounted to 2.7% as of the end of 2017.

Net profit of the sector increased by 31% and reached TL 57.5 billion. During this period, the sector’s capital base maintained its solidity.

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