Record profit from public banks! That’s how they responded to the lie of duty damage

Following the exchange rate attack, the state banks, which acted with the awareness of national responsibility by putting the country’s balance sheet in front of their balance sheets, completed 2019 with a performance that cracked enemies. Public banks, which were active in the repulsion of speculative attacks by responding to exchange rate attacks with transactions in the swap market, and which were active in reducing the current deficit, with packages that encouraged investments in high value-added products, which have contributed to the growth of the economy again in the last quarter, broke the profit record in the last quarter of the year.

LOWEST SUNKY PUBLIC

Public banks, “They suffer with swap transactions, they write duty losses with low loan rates” he allegedly confirmed his claims in the last quarter. The profit of three public banks consisting of Ziraat, Halk and Vakıfbank increased by 167 percent in the last quarter to 4 billion 983 million liras compared to the third quarter. Public banks reached the highest profit in their history on a quarterly basis. In the same period, the total profit of the sector increased by 25 percent and reached 13.8 billion liras. In the last quarter, the profit of foreign deposit banks decreased by 13 percent, and the profit of domestic private banks by 3 percent. The profit of the public banks, which started to cut interest rates, especially housing and commercial loans, immediately after the first interest rate cut in July, rose from 4.5 billion lira to 11 billion 363 million liras, increasing 150 percent in the last 5 months from July to the end of 2019.

also performed well in the industry. The bad loan rate, which was 5.33 percent in the sector as of the end of 2019, remained at 4 percent in public banks. This rate was 6.7 percent in domestic private and 7.2 percent in foreign banks. Three public deposit banks signed 156 billion lira of the total loan growth of 262 billion lira in the sector last year. Public banks increased their loans by 19 percent in 2019 to 980 billion. In this period, credit growth remained at 5 percent in domestic private and foreign banks.

13 FLOOR GROWTH IN 15 YEARS

Public banks in times of crisis “duty losses” With his transformation in the last 15 years, he came to the fore with his profitability, low interest rates, financing support for mega projects and effective roles in the economy. The asset size of three state banks, which was 77.1 billion lira in 2000, reached 1 trillion 532 billion lira in 2019. Thus, the asset size of public banks increased approximately 13 times in 15 years. Public banks, which had a 18 percent share in loans in 2000, increased this to 36 percent in 2019.

MINISTER ALBAYRAK SIGNED

Treasury and Finance Minister Berat Albayrak pointed out in the evaluation made in the beginning of 2020 that public banks would announce huge profits. Evaluating the role of public banks in the economy, Minister Albayrak said that these banks exist for “Let’s customize all public banks” Recalling that it is said, “Our President was against it. Fortunately, he was against. In the last 3-5 years, we would have gone through much more difficult problems if the public banks had not been the market maker, the domestic economy standing next to the real sector.” had made the explanation.

OUTSIDE THE COUNTRY IN A DIFFICULT DAY

Gedik Investment Research Director Ali Kerim Koyunlu emphasized that the profits of public banks are not surprising for them, “Turkey has an overall maturity mismatch between deposits and loans. While Average loan maturity of 6 months, while the deposit term 1 month. As such, interest thought your credit is a fiyatlanıy 6 months, but your deposit after 1 month are priced. Public banks credit In the second half, as they grew in terms of interest, interest earned a high profit from this mismatch. Profit growth will continue in the first quarter of this year as well. One of the duties of public banks is to support the public. said.

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