Turkey’s Islamic banks increase market share in August year-on-year
Turkey’s Islamic banks gained 1.16% market share by assets to reach 7.05% of the country’s banking sector in August compared to the same period last year.
The country’s Islamic banks’ assets reached $56.3 billion in August, a growth of 29.72% compared to $43.4 billion at the same time in 2019, according to data released by the banking authority BDDK on Tuesday (September 29).
The banking sector’s assets overall rose by a lower 8.43% to $798.5 billion.
Net income of the six participation banks, as Islamic banks are called in Turkey, grew by 29.32% to $397 million for January to August compared to $307 million for the same eight months in 2019.
The banking sector earned $798.5 billion in net income, a 3.51% growth compared to August last year.
Other key stats for the banking sector:
| Islamic banks | Total banking sector | |||
| Jan-Aug 2020 | Jan-Aug 2019 | Jan-Aug 2020 | Jan-Aug 2019 | |
| LOANS | $29.7 bln | $21.4 bln | $475.7 bln | $437.5 bln |
| DEPOSITS | $41.3 bln | $31.5 bln | $453.4 bln | $406.2 bln |
| NPL (%) | 3.27% | 4.92% | 4.14% | 4,64% |
| Data source: Banking Regulation and Supervision Agency (BDDK) | ||||
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