The net profit of Turkish banks amounted to TL 107.3 billion ($5.6 billion) in March, according to data released on Wednesday.

The figure was up from TL 63.2 billion in the same month last year.

Lenders' total assets reached TL 15.8 trillion ($827.3 billion) in March, up from TL 10.2 trillion in March 2022, the Banking Regulation and Supervision Agency data showed.

Loans, the largest sub-category of assets, amounted to TL 8.5 trillion Turkish.

On the liabilities side, deposits held at lenders in Türkiye – the largest liabilities item – came in at TL 9.96 trillion.

The sector's regulatory capital-to-risk-weighted-assets ratio – the higher the better – stood at 17.67% at the end of March.

The ratio of non-performing loans to total cash loans – the lower the better-was 1.82%.

As of end-March, a total of 54 state, private and foreign lenders – including deposit banks, participation banks, and development and investment banks – were operating in Türkiye.

The sector had 209,339 employees working at 11,060 branches both in Türkiye and abroad, along with a total of 48,694 ATMs.