BANKING - Albaraka Turk Gains After Dunya Report of Gulf, Balkan Expansion

www.businessweek.com - Albaraka Turk Katilim Bankasi AS (ALBRK), a Turkish Islamic bank, climbed after Dunya reported it would expand into the Middle East and Balkans, citing Chief Executive Officer Fahrettin Yahsi.

The shares added 1.6 percent to 1.96 liras at 11:25 a.m. in Istanbul, heading for their highest on a closing basis in three weeks. Shares on the overall banking index fell 0.3 percent to 116,770.2.  (source)

CAPITAL MARKETS - Turkey's Albaraka Turk decided to increase its paid in capital

www.balkans.com - In its latest Board meeting, Albaraka Turk decided to increase its paid in capital by TRY 361mn to TRY 900mn. As of 2011, Albaraka Turk is operating with a CAR of 12.5%. After the full implementation of the Basel II requirements, we estimate the CAR to decline by 100-120bps. Therefore, the decision will be a good step to enhance the overall capital base. (source)

BANKING - The project to turn Turkey’s megacity into an international finance center is coming to fruition

www.balkans.com - Zaman - The project to turn Turkey’s megacity into an international finance center is coming to fruition as the planning phase gives way to construction. Within the framework devised by the Turkish government, the Istanbul Financial Center (IFC) project will house the head offices of the country’s governing bodies of financial markets, state-owned banks and related businesses.  (source)

BANKING - Bank Asya predicts 15 pct growth for 2012

www.hurriyetdailynews.com - Turkey’s Bank Asya foresees 15 percent growth in 2012, especially in private banking and Small Medium Enterprises (SME), according to Bank Asya General Manager Abdullah Çelik.

The bank also wants to open 25 new branches this year, to reach 300 branches by 2015, and wants to expand its operations to India, Northern Iraq, Africa and the Balkans. (source)

BANKING - Turkey's bank Albaraka will improve its bottom line by 38.7% in 3Q11-Erste

We expect the bank to improve its bottom line by 38.7% in 3Q11 to TRY 42mn; which also marks 26% y/y growth, mainly driven by strong top line profitability. The bank's volume growth performance should be in line with its peer average. We also foresee 5% quarterly growth in total loans.  (source)

OPINION - Balkans between two worlds: Turkey and Europe

sundayszaman.com - ... Turkey has long been in the banking industry of Bulgaria, Serbia, Bosnia, Albania and Macedonia. For instance, Ziraat Bankası and IK Bank (a sister company of Halk Bank) are well-established banking systems in Macedonia, while TEB (Türk Ekonomi Bankası) is already among the key players of Kosovo’s banking industry. BKT is the second leading bank in Albania in terms of banking facilities, investments, loans and financial capacity, and, according to its CEO, Albaraka Türk will open its first bank in Albania later this year.... (source)

BANKING - Turkey's Bank Asya to buy a brokerage house

TODAYSZAMAN.COM - Turkey's Bank Asya, which offers non-interest banking services conforming with Islamic law, is about to acquire a brokerage house, its chief executive Abdullah Çelik said on Thursday.

Çelik said in August the bank plans a small acquisition of between $10-20 million in a Balkan country in partnership with the Islamic Development Bank.  (source)

BANKING - Bank Asya plans small Balkan buy, subject to bid offers itself - USD 300 million sukuk planned by end of this year

Aug 17 (Reuters) - Turkey's Bank Asya, which offers non-interest banking services adhering to Islamic law, plans a small acquisition of between $10-20 million in a Balkan country in partnership with the Islamic Development Bank, its chief executive said on Wednesday. (source)

BANKING - Turkey’s Bank Asya considers acquiring a Balkan bank

Turkey’s leading participation bank, Bank Asya, is considering acquiring a bank in the Balkans, bank General Manager Abdullah Çelik told Reuters Wednesday in İstanbul. (source)

BANKING - Turkey’s Bank Asya reports TRY 55mn net earnings

In its 2Q11 financials, Bank Asya reported TRY 55mn net earnings, versus our TRY 60mn forecast and TRY 60.5mn market consensus estimates. The quarterly net earnings imply 15% growth over 1Q11, which can be explained by a sharp dive in provisioning expenses in the period, and the weak base of 1Q11. (source)

BANKING - Turkey`s Bank Asya net profit lagging behind estimates

In its 1Q11 financials, Bank Asya reported TRY 48mn net earnings, lagging behind both Erste and consensus estimate of TRY 69mn and TRY 73mn respectively; which can be attributable to lower than expected NII. 1Q11 net income marks 32% qoq and 19% yoy decline.(full story)

BANKING - Turkish banks reported TRY 1,530mn net profit in Feb 2011

According to the BRSA (banking watchdog), Turkish banks reported TRY 1,530mn net profit in February 2011 marking a flattish performance both over the previous month and compared to a year ago. The monthly RoE came in at 13.7%, broadly in line with the previous month but well below the last one year's average figures. (full story)

BANKING - Turkish Bank Asya to sell some stake in Yeni Magazacilik

Bank Asya to sell some stake in Yeni Magazacilik (A101), hard discount retailer, to a minority investor. Bank Asya has 21.84% stake in A101. (full story)

GENERAL - Turkey wants more cooperation in Balkans, Mid East and Caucasus, Turkish FM says

The Turkish foreign minister said on Thursday that Turkey wanted to expand its regional cooperation areas in the Balkans, Middle East and Caucasus.

Speaking at a TV program broadcast by private channel CNN Türk, Turkish Foreign Minister Ahmet Davutoğlu said Turkey had commitment to many regions due to its geographical position.