December 26, 2008

The total assets of Turkey’s banking sector rose 5.2 percent in October from the previous month, according to data from a banking watchdog.

The industry’s total assets climbed from YTL 679.8 billion to YTL 715.5 billion from September to October, the Banking Regulation and Supervision Agency, or BDDK, announced in its December bulletin that also included data for October.

Total profits of the industry, however, declined 10.5 percent during the same period. The industry’s net term profit, which stood at YTL 13.3 billion in October last year, dropped to YTL 11.9 billion.