Kuveyt Türk concluded its twenty third Regular General Assembly with a meeting in which members of the Board of Directors, Chief Executive Officer Ufuk Uyan and Kuveyt Türk partners were in attendance. The meeting began with Kuveyt Türk Chief Executive Officer Ufuk Uyan’s presentation of the agenda, after which participants were informed about the 2010 Annual Report and annual financial statement. (full story)
According to the statement given during the General Assembly, the company’s profit at the end of 2010, one hundred and fifty nine billion, five million Turkish lira (TL), reflected a 26 percent increase on last year. In his speech, Mr. Uyan stated that Kuveyt Türk’s financial and operational performance during the 2010 fiscal year, in which it increased its non-consolidated assets by 41 percent and its collected funds by 40 percent compared to 2009, brought them up to nine billion seven hundred and twenty seven million TL and eight billion twenty one million TL, respectively.
“During this term, the total amount our bank provided its customers increased by 50 percent, rising from four billion six hundred and fifty one million TL to six billion nine hundred and seventy two million TL,” he said.
“Our non-cash risk balance, which was three billion three hundred and thirty one million TL in 2009, rose 12 percent to reach three billion seven hundred and thirty million TL in 2010.” Kuveyt Türk’s policy of consistent growth continued in 2010, with 158 branches at the time of the report. The number of employees increased by 390 to a total of 2,837 people, a significant increase. In 2010 Kuveyt Türk became the first bank to establish an exchange-traded fund in Turkey, with the GoldPlus Exchange Traded Fund. During the same period Kuveyt Türk also carried out Turkey’s first sukuk export of $100 million. Kuveyt Türk also took important steps in the field of private pensions and insurances, offering its extremely beneficial interest-free retirement system first to its employees and their families and then to its customers from 2011.
Source : http://www.kuveytturk.com.tr/pages/news.aspx April 15, 2011
