Top 10 banks’ Q1 net income up 27 percent to 157 billion liras

ISTANBUL

The combined net income of Türkiye’s largest banks by asset increased by 27 percent in the first quarter of 2025 from a year ago to reach 156.6 billion Turkish Liras.

The total assets of the 10 largest banks reached 29.7 trillion liras in the first quarter of the year, marking a 39 percent increase compared to the same period in 2024.

State-owned Ziraat was the most profitable bank in the January-March period, posting a net income of 32.7 billion liras, followed by private bank Garanti BBVA with 25.3 billion liras.

Another state-owned lender VakıfBank ranked third with 20 billion liras. Private lenders Akbank and İşbank came in fourth and fifth with 13.7 billion liras and 12.4 billion liras, respectively.

During this period, the bank that saw the largest profit increase was Ziraat, at 87.8 percent. It was followed by VakıfBank with a 66.6 percent increase, Halkbank with 46.3 percent, Kuveyt Türk with 42.8 percent, and QNB Bank with 13.4 percent.

Ziraat Bankası maintained its title as the bank with the largest assets in the sector in the first quarter of the year, with 6.2 trillion liras. VakıfBank followed in second place with 4.2 trillion liras and İşbank secured third place with 3.7 trillion liras, while also maintaining its status as the largest private bank by assets.

Halkbank ranked fourth with 3.2 trillion liras in assets, followed by Garanti BBVA with 3 trillion liras.

Deposits, which are the largest source of funds for banks, reached 19.5 trillion liras. The total deposits collected by the 10 largest banks in the sector increased by 34 percent.

The total equity of these banks, which was 1.6 trillion liras in the first quarter of 2024, rose to 2.4 trillion liras.