Four Turkish Banks Account for 60% of Sector's Profit
Turkey’s top four banks play a very prominent role in the sector. State-owned Ziraat and three private banks, Garanti, Is and Akbank, have the lyon’s share in assets, deposits and profits. According to the latest report from the Union of Banks, TBB for short, as of end September, the country’s largest lenders accounted for 54.2 percent of assets, 57.3 percent of deposits and 59.7 percent of net earnings with Ziraat leading in all three categories.
By end September, the banking sector’s combined assets stood at TL 886.1bn and deposits at TL 569.3bn. As for after-tax profits, they reached TL 16.3bn in nine months.
ZIRAAT HOLDS 20% OF PROFITS
A very large portion of deposits or TL 113.4bn, are held with Ziraat which thus accounts for 19.9 percent of the sector’s total.
With a deposit rise of 20.2 percent on last year’s same period, Ziraat has thus widened its share from 19.5 percent, one year earlier. The top banks in terms of deposits also include Is Bank (TL80.4bn), Garanti (TL70.2bn), Akbank (TL63.5bn), Halkbank (TL51.6bn), Vakifbank (TL47.5bn) and Yapı Kredi (TL46.8bn).
ALSO LEADER IN ASSETS
Similarly, Ziraat tops the league of banks asset wise. The assets of Ziraat have risen by 13.8 percent to TL137.5bn, year on year. Is Bank is also second in assets with TL124.8bn, followed by Garanti with TL113.5bn. While Is Bank’s assets have grown 17.1 percent, Garanti has reported an increase of 12.6 percent.
Up 16.2 percent, assets at Akbank have reached TL104.6bn. A rise of 15.8 percent has taken Yapi Kredi’s assets up to TL74.2bn.
Vakifbank had assets of TL72.1bn, a growth of 18.3 percent on September, 2009. These six banks represented TL626.7bn or 70.7 percent, of the sector’s asset total.
SIX BANKS GENERATE 80% OF PROFIT
During the first nine months of the year, six banks achieved after-tax profits exceeding the TL1 - bn mark and four of them surpassed TL2 bn. The same six banks also generated 80 percent of the sector’s total profit.
Also leading the profit list, Ziraat secured net earnings of TL2.73bn in nine months, a rise of 2.4 per- cent from TL2.67bn, the previous year. Second comes Garanti with profits of TL2.44bn. The top banks in profit terms also include Is Bank with TL2.37bn, Akbank with TL2.16bn, Yapi Kredi with TL1.78bn and Halkbank with TL1.51bn.
Worthnoty is the 31.9-percent jump in profits at Is Bank. Accordingly, 6 best performers secured net earnings of almost TL13.1, combined. Ziraat, Garanti, Is and Akbank have taken in 57.5% of deposits, contributed 59.7% of profits while representing 54.2% of assets.
Source: ANKA Review, 21 December 2010 Tuesday, Issue: 1608
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