Turkish state-run banks post $762M net profit in H1

Three Turkish state-run banks posted 4.41 billion Turkish liras ($762 million) in net profit over the first six months of 2019.

The total assets of the three conventional banks Ziraat, Vakıf and Halk — excluding state-run participation banks — reached nearly 1.25 trillion Turkish liras ($215.5 billion) by the end of June, according to data compiled by Anadolu Agency from unconsolidated balance sheets.

Among the three banks, Ziraat saw the highest net profit with 2.8 billion Turkish liras ($484 million). Its assets totaled 537.15 billion Turkish liras ($92.9 billion), as of the end of the year’s first half.

Vakıf Bank’s net profit was 1 billion Turkish liras ($173 million), while Halk Bank saw a net profit of 615.4 million Turkish liras ($106.5 million) during the same period.

While Halk’s total assets amounted to 378.4 billion liras ($65.5 billion), Vakıf’s total assets stood at 331.35 billion Turkish liras ($57.3 billion).

The state-owned b

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