Posted by meb at February 16th, 2007

Consumer loans have earned the banks in the Turkish finance sector an approximate total of YTL 26 billion (US$ 19 bl.) in interest revenue in 2006, a 36.9 percent increase from 2005. The amount earned from interest was roughly YTL 19 billion the year before. Banks total interest revenue, moreover, jumped 28 percent over 2005 and reached YTL 50.4 billion, from YTL 39.4 billion. According to Banking Regulation and Supervision Agency (BDDK) data, net profit for banks hit YTL 10.66 billion, up 81 percent. Fees and commissions that customers paid to the banks showed a 19.1 percent increase and rose to YTL 1.53 billion, up from YTL 1.29 billion. Interest-free banking services, however, remained low in total revenues, yet increasing from YTL 4.7 to YTL 5.9 billion.

source: Today’s Zaman

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