The banking knowledge for February confirms that the Turkish banking sector has a really wholesome outlook, Treasury and Finance Minister Nureddin Nebati stated Sunday.
Nebati, in a social media submit, evaluated the February banking knowledge introduced by the Banking Regulation and Supervision Agency (BDDK).
Pointing out that the stated knowledge confirms that the banking sector has a really wholesome outlook with its robust capital construction, excessive asset high quality and profitability ratios, Nebati stated: “The capital adequacy ratio of the sector is 17.1% as of February 2023, which is well above the legal minimum limit of 8% and the target ratio of 12%.”
“The high capital adequacy ratio shows that our banking sector has a significant amount of capital buffer as a precaution against possible risks.”
“A second point is that the NPL ratio of the sector was realized at a shallow level of 1.9% as of February 2023. This underlines the healthy asset quality of the sector,” Nebati stated.
Nebati emphasised that the banking sector has achieved this wholesome look below the tough circumstances the monetary system has fallen into as a result of “self-evident” tight financial insurance policies carried out lately in international markets.
In addition, Nebati acknowledged that the built-in construction of the banking sector with international monetary markets, certified human assets and pioneering actions in technological purposes have introduced the nation to the fore on this area, including, “Despite the current challenging global conditions, which the whole world is going through, the healthy development that our banking sector has achieved is behind it.”
The internet revenue of Turkish banks reached TL 65.6 billion ($3.48 billion) within the January-February interval, with a 68% rise in comparison with final yr, the nation’s banking watchdog introduced Wednesday.
Source: www.dailysabah.com
