According to the release, TL 17.4 billion was made by banks in the first 10 months of 2009, compared to TL 11.9 billion in the same period last year. The release, which puts together data collected from all Turkish banks, revealed that despite the staggering increase in profits during this period, non-performing loans increased by 76.1 percent to TL 21.6 billion. The release noted that the size of banks’ assets increased by 8.6 percent in the first 10 months of this year compared to the end of 2008, for a total of TL 795.6 billion. The amount of credit provided by the banking sector increased by 2.6 percent, from TL 367.4 billion to TL 377.6 billion. Bank deposits, on the other hand, increased even more, by 7.8 percent, more than the 2.6 percent increase in credit. Deposits were at TL 490 billion at the end of October, having increased by TL 35.5 billion compared to the end of last year.
The value of banks’ securities also role, from TL 194 billion at the end of 2008 to TL 251.5 billion at the end of October 2009, an increase of 29.6 percent. Banks’ equities increased to TL 107.6 billion in the same period, a 24.5 percent increase. The capital adequacy rate increased from 16.8 percent at the end of October 2008 to 20.4 percent in October 2009.
