Falling interest rates and credit campaigns, combined with government incentives have all been a major source of support for Turkish banks in the first half of the year.
Banking Regulation and Supervision Agency (BRSA) has unfolded 2020 first half figures of the banking sector. Accordingly, total assets of Turkish banks rose by 26.5 percent y-o-y and reached TRY 5.35 trillion at the end of June 2020, while total loans increased by 28.3 percent reaching TRY 3.25 trillion and net profit by 24.2 percent seeing TRY 30.8 billion.
Meanwhile, by the end of June 2020, capital adequacy ratio of the sector reached 20 percent from 18.4 percent of year-end 2019 and non-performing loans (NPL) ratio declined to 4.41 percent from 5.36 percent as of the same dates.