The Central Bank of the Republic of Türkiye (CBRT) has reported a net profit of TL 72.02 billion ($3.78 billion) for the year 2022, according to the balance sheet published Friday in the Official Gazette.
This is an increase from the CBRT's profit of TL 57.5 billion in 2021.
The bank's tax liabilities for the last year were TL 22.3 billion.
Meanwhile, the CBRT has previously said that it has donated TL 30 billion from its 2022 balance sheet profit for the earthquake relief efforts. Two major quakes hit Türkiye’s southeastern region on Feb. 6, affecting 11 provinces and leading the government institutions to run a campaign for relief and reconstruction efforts.
Following the CBRT's annual general assembly, which will be held on March 28, 2023, the bank will transfer its profits from the previous year to the Treasury within a few days, as long as there are no delays and legal provisions are set aside.
The CBRT has announced that its 91st Fiscal Period Ordinary General Assembly Meeting will be held both electronically and physically at the Headquarters Conference Hall in Ankara. The meeting will include discussions and decisions related to the 2022 dividend distribution, as well as the reading and discussion of proposals regarding the balance sheet, profit and loss account for the year, and the distribution of profits.
The CBRT typically holds a general assembly at the end of March each year, unless an earlier decision is made. Assuming there are no delays and legal provisions are set aside, the bank will transfer its profits from the previous year to the Treasury within a few days following the general assembly.
Last year, the lender distributed its reserve fund from 2020 profits to shareholders, including the Treasury. It distributed TL 45 billion as advanced dividends and TL 4.3 billion as reserve funds.
During the general assembly meeting, the bank will also select two new members for its board, as well as three members for its supervisory board.
