Profits remain unchanged at Turkey’s fast growing banking sector


Profits of the Turkish banks remained unchanged in 2014 compared to the previous year and stood at 24.66 billion Turkish Liras ($10.13 billion), Turkey's banking watchdog said on Friday.According to the Banking Regulation and Supervision Authority (BDDK), the banking sectors total assets increased by 15 percent and reached 1.99 trillion TL ($820 billion) in 2014.The total worth of credits stood at 1.24 trillion TL ($510 billion) with 18 percent growth rate.Non-performing loans increased by 23 percent and reached 36.41 billion TL ($14.95 billion), almost 50 percent higher than the sector's profits.The sector's equity profitability rate stood at 12.23 percent, the return on assets stood at 1.33 and capital adequacy ratio stood at 16.3 percent in 2014.