Turkish banks recorded a whooping 293.4 billion Turkish liras ($10.9 billion) net profit ın the January-July period, according to data released Tuesday by the country’s banking watchdog.

Total assets in the Turkish banking sector reached 20 trillion liras ($743.5 billion) at the end of July, the Banking Regulation and Supervision Agency (BRSA) data showed.

Loans, the largest sub-category of assets, amounted to 10.3 trillion liras ($384.4 billion) from January to July.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – totaled 12.5 trillion liras ($464.1 billion).

The sector’s regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 18.7% as of the end of last month.

The ratio of non-performing loans to total cash loans – the lower the better – was 1.6%.

As of the end of April, 55 state/private/foreign lenders – including deposit banks, participation banks, and development and investment banks – were operating in Türkiye.

The sector had 207,497 employees working at 11,046 branches both in Türkiye and abroad, as well as 48,963 ATMs.