Turkey's leading participation bank Bank Asya has said its net profit for the January-March period of this year is TL 48 million ($30.3 million), down from TL 59 million posted the same period a year ago.
The bank announced its unconsolidated financial results for the first quarter of this year on Thursday. According to the latest figures, the participation bank's total assets equal TL 14.51 billion, while its financial contribution to the Turkish economy – through the extension of loans -- has surpassed TL 21 billion.
The bank's statement also underlined that its loans extended went up by almost 30 percent, to TL 11.44 billion, in the first quarter of this year compared to the same period of 2010, while deposits in savings (participation) and checking accounts in the first quarter of this year increased by 18.08 percent to TL 11 billion. (full story)
The bank's statement also underlined that its loans extended went up by almost 30 percent, to TL 11.44 billion, in the first quarter of this year compared to the same period of 2010, while deposits in savings (participation) and checking accounts in the first quarter of this year increased by 18.08 percent to TL 11 billion. (full story)
Commenting on the results, Bank Asya General Manager Abdullah Çelik said the participation bank would continue to contribute the Turkish economy in the future. “Our bank has taken important steps to becoming a consulting bank for small and medium-sized enterprises [SMEs] that want to grow by our Çobanyıldızı (Lodestar) project. With this project, we try to assist SMEs as well as smaller companies in any field to help them meet their targets. In this way Bank Asya has increased loans extended to individuals by 83 percent in the last year, showing how successful our growth strategy is,” Çelik noted.
Moreover, Bank Asya also continued to focus on opening more branches across the country. With the five branches opened in the first three months of this year, the bank's total number of branches rose to 180. “We would like to introduce Bank Asya's high-quality and fast service to every part of the country and therefore have plans to reach a branch number of 200 by the end of this year,” Çelik added.
Meanwhile, the bank recently received a one-year murabaha syndication loan -- interest-free -- of $171 million and 94.5 million euros from a consortium of 26 banks from 19 countries.
Source : http://todayszaman.com/news-243688-bank-asya-posts-tl-48-million-net-profit-in-first-quarter.html - May 12, 2011
