Turkey’s banks post 22 percent more profits in Q1

The net profits of Turkish banks continued their steady increase in the first quarter of 2010, rising 22.1 percent to TL 6.3 billion over the same period a year ago, a quarterly report by the Banking Regulation and Supervision Agency (BDDK) has shown. The report, released June 21, also revealed that the total size of assets possessed by the banks reached TL 860.5 billion as of the end of March, climbing 14.2 percent over the previous year.

Despite the global economic crisis, the Turkish financial has emerged from the recession with a strengthened position compared to its European competitors.

Source: Today’s Zaman


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