The head of Turkey's banking regulation authority said on Monday that Turkish banking sector's year-end profit had reached 20.07 billion Turkish liras.
Holding a press conference, Banking Regulation & Supervision Agency's (BDDK) chairperson Tevfik Bilgin said, "The year-end profit has exceeded 20 billion TL in accordance with our expectations".
Bilgin also said that the active assets of the Turkish banking sector increased by 14 percent and amounted to 834 billion TL as of the end of 2009.
Pointing to the 6.9 percent increase in credits as well, Bilgin said the total amount of credits provided by the sector had reached 393 billion TL by the end of last year.
Bilgin also said profitability had been the most significant indicator of 2009. (1 USD = 1.51 TL)
Turkish banking sector's year-end profit exceeds 20.07 bln TL
The head of Turkey's banking regulation authority said that Turkish banking sector's year-end profit had reached 20.07 billion Turkish liras.