Turkey – Central bank releases banking statistics for September 2012, Garanti Bank registers profit

The Central Bank of the Republic of Turkey (Türkiye Cumhuriyet Merkez Bankası) on 31 October published consolidated statistics for the banking sector for the month of September 2012.  Some highlights (all figures in thousands of Turkish lira; 1 EUR = 2.3244 TRY):

Deposits by non-financial corporations: 66,343,184 → 72,053,138

Deposits by individual corporations: 6,148,721 → 7,104,648

Deposits by households: 279,911,377 → 283,247,000

Deposits by NPISH: 15,441,726 → 16,030,399

As these figures show, there were increases across all categories.  Yet these increases are not especially significant, since inflation in Turkey is not to be ignored: in September the producer price index (PPI) increased at an annual rate of 4.03%, while the consumer price index (CPI) rose at an annual rate of 9.19%.  This inflation is evident from the Central Bank’s main policy rate, the overnight (gecelik) rate: 5.00% for Central Bank overnight borrowing, 9.50% for Central Bank overnight lending.

Source: Para ve Banka İstatistikleri (Eylül 2012) (2012-10-31), tab 3.7

In other news, Garanti Bank (Türkiye Garanti Bankası Anonim Şirketi, founded 1946, headquartered in İstanbul) on 30 October released financial statements for Q3 2012, indicating a net profit for the first nine months of 2012 of 2.313 billion TRY (€ 995 mln), a return on equity of 16.4%, and a return on assets of 2.0%.

Source: Garanti 2.3 milyar TL kar açıkladı (2012-10-31 08:31)

Complete Q3 financial statement (94 pp., 2.55 MB): Türkiye Garanti Bankası Anonim Şirketi - 30 Eylül 2012 - Hesap Dönemine Ait Finansal Tablolar ve Sınırlı Denetim Raporu (2012-10-30)

Mark Pleas

Eastern Europe Banking & Deposits Consultant

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