Participation banks in Turkey recorded 18 percent growth in net profit in the third quarter of 2009 over the same period in 2008, the Participation Banks Association of Turkey, or TKBB, said Wednesday.
According to an association statement, the net profit of the participation banks in that period was $353 million (530 million Turkish Liras).
Funds at the participation banks were up 30 percent in the third quarter over the same period in 2008, reaching $16.6 billion (24.9 billion liras).
The statement said the number of branches of participation banks was also up 2 percent, to 540, in the third quarter. In its statement, the association said these banks employ 11,216 people.
The TKBB currently has four members: Albaraka Turk, Bank Asya, Kuveyt Türk and Türkiye Finans. The head office of the association is in Istanbul.
The main objective of the association is to defend the rights and interests of participation banks within the framework of the free-market economy, full competition principles and banking-system regulations. The organization also carries out studies and research to enhance the healthy functioning of the banking system and lobbies for changes that will improve competitive power and avoid unjust competition.
Source : http://www.hurriyetdailynews.com/n.php?n=turkeys-participation-banks-profit-in-q3--2009-11-19 - Nov 20, 2010
According to an association statement, the net profit of the participation banks in that period was $353 million (530 million Turkish Liras).
Funds at the participation banks were up 30 percent in the third quarter over the same period in 2008, reaching $16.6 billion (24.9 billion liras).
The statement said the number of branches of participation banks was also up 2 percent, to 540, in the third quarter. In its statement, the association said these banks employ 11,216 people.
The TKBB currently has four members: Albaraka Turk, Bank Asya, Kuveyt Türk and Türkiye Finans. The head office of the association is in Istanbul.
The main objective of the association is to defend the rights and interests of participation banks within the framework of the free-market economy, full competition principles and banking-system regulations. The organization also carries out studies and research to enhance the healthy functioning of the banking system and lobbies for changes that will improve competitive power and avoid unjust competition.
Source : http://www.hurriyetdailynews.com/n.php?n=turkeys-participation-banks-profit-in-q3--2009-11-19 - Nov 20, 2010
