BANKING - Turkiye Finans Will Grow 25 Percent in 2012, Aksam Reports

www.bloomberg.com - Turkiye Finans Katilim Bankası AS, a Turkish bank that operates according to Islamic rules barring interest, will grow 25 percent this year, Aksam reported, citing Chief Executive Officer Derya Gurerk.
The shareholders are committed to increasing the bank’s capital to achieve a capital adequacy ratio that will support this rate of growth, Gurerk said, according to the newspaper.
National Commercial Bank of Saudi Arabia owns 64.7 percent of Turkiye Finans, Turkish Boydak Group 21.6 percent and Yildiz Group 13.7 percent.  (source)

BANKING - Kuwait Finance House’s Turkish Unit Increases Profit 18%

www.businessweek.com - Kuwait Finance House KSC (KFIN) said first- quarter profit at its Turkish unit, Kuveyt Turk Katalim Bankasi AS, rose 18 percent from a year earlier to 87 million lira ($47 million). The Istanbul-based bank opened 25 new branches during the period, bringing the total to 183, the lender said today in an e-mailed statement. (source)

BANKING - KFH-Turkey profit for Q1 TL87m with 18% increase

www.ameinfo.com - KFH-Turkey Chairman and Kuwait Finance House (KFH) CEO Mohammed Al-Omar announced that KFH-Turkey's net profit in Quarter 1 reached TL87m with 18% increase compared to last year. Assets increased by 43 % to reach TL15bn, while shareholders' equity increased to reach TL1.5bn (17%). Branches increased by 25 branches to reach 183 branches. It is worth noting that 10% of deposits of Q1 come from GCC countries. (source)

BANKING - Bank of Asia for the first quarter 2012 net profit of 50 million pounds

www.finansglobal.com - Bank of Asia, has announced the financial statements for the first quarter of 2012.

Bank-Asia (Finansglobal) - 4 percent of its net profit in the first three months of increases solo Asian grossed over 50 million 72 thousand TL. Bank during the same period last year announced a net profit of 48 million 42 thousand TL.

Bank Asia's net profit share revenues rose by 34 percent the first three months of 2011 over the same period was 143 million TL to TL 192 million. £ 66 million as the bank announced a net commission income.

Bank of Asia increased by 23 percent in the last one year period 14:07 billion cash loans, collects funds through current and participation accounts increased by 19 percent and reached TL 13:16 billion. According to the same period in 2011 increased 11 percent equity of the Bank amounted to £ 2.2 billion. (source)

BANKING - Kuwait Turk's first-quarter net profit of £ 85 million

www.finansglobal.com - Kuwait Turkish Participation Bank's net profit for the first quarter of 2012, was £ 85 million.

Kuwait Turk began in 2012 with the goal of significant growth in the first quarter of the work of innovative products and services in the field of retail and corporate banking profits increased $ 85 million TL.

£ 15 billion in total assets was realized at the same time, reached TL 1.5 billion in equity assets. Kuwait reached TL 9.8 billion in funds collected from the Turkish, 10.4 billion worth of funds held kullandırımı. (source)

BANKING - Participation banks has grown 10 times in 8 years

www.dunya.com - ANKARA - "Islamic banking", "Interest-free banking" referred to with names such as, participation banks working on the basis of dividends rather than interest, noted the rapid growth of the last 8 years. Funds collected by the numbers 4 participation banks in Turkey, which is approximately 9 times in 8 years, kullandırdığı 12.8 times the volume of funds, assets have grown 10 times. Participation banks, the volume of total deposits in the banking sector, 5.7 percent, 6 percent of the credit volume, asset size reached a share of 4.6 percent.



"Interest-free banking", also known as participation banks working on the basis of dividend funds collected approximately 9 times the last eight years, kullandırdığı 12.8 times the volume of funds, assets have grown 10 times.

Participation Banks Association of Turkey (TKBB), Banking Regulation and Supervision Agency (BRSA) and the calculation made according to Central Bank data, a total of four participation banksassets grew by 29.6 percent in 2011 reached 56.1 billion pounds. The total size of the funds collected from the four participation banks increased by 19.2 percent last year, 39.9 billion, an increase of 28.9 percent of the volume of funds kullandırdığı was 41.5 billion pounds. Participation banks increased by 5.8 percent last year, the total profit was 803 million pounds. (source)

BANKING - Kuwait Finance House announces 11.4% increase in deposits, 11.2% increase in total assets - Kuveyt Turk going strong

www.ameinfo.com - Kuwait Finance House (KFH) Chairman Sameer Al-Nafisi announced that KFH has achieved total revenues of KD182.8m during the first quarter of 2012.

Total profits reached KD57.4m, including KD36.9m estimated profit for investment depositors. Net profit for shareholders reached KD20.1m, while earnings per share reached 7 fils. Total assets increased to KD14.2bn, with KD1.4bn or 11.2% increase over the same period last year. Deposits increased to KD9.2bn, with KD938m or 11.4% increase over same period last year.Total shareholders' equity reached KD1.3bn, with KD14m or 1.1% increase over same period last year.

Al-Nafisi highlighted the bank's ability to implement its plans and strategies even in the most challenging of time, which increases the potential of improving financial indicators during the coming period.  (source)

BANKING - Foreseeing quick profits, Bank Asya decides to open 15 new branches

www.sundayszaman .com - Bank Asya General Manager Abdullah Çelik has said Turkey's largest Islamic participation bank will significantly increase the number of new branches to be opened this year.
 

Speaking to a group of reporters on the sidelines of a luncheon conference in Washington, D.C., on Thursday, Çelik said the bank is set to open 40 new branches -- equal to 20 percent growth -- by the end of 2012. The bank earlier said it planned to open 25 new branches this year. “We trust in Turkey,” he said, when asked to name the motive for the change.  (source)

BANKING - Albaraka Turk has decided to increase the share capital

www.finansglobal.com - Albaraka Turk, the capital of 361 million pounds as a bonus 67 percent decided to increasing the extraction of 900 million pounds.

360.9 million pound capital increase of bonus extraordinary reserves, real estate sales earnings and the remainder will be met.

BRSA and CMB artırımıyla filed in relation to bank capital and decided to change anasözleşmesinin 7th paragraph.  (source)

BANKING - Albaraka Turk is expanding its branch network

www.finansglobal.com - Profitable year in 2011 off, 2012, a fast-in, first participation bank in Turkey, Albaraka Turk, continues to expand its branch network. Six started in March in Istanbul, Bolu is one of the seven new branches in the number of workers 2700'e, the 124 brings the number of branches.

£ 160.2 million, an increase of 19.5 percent of net profit of Albaraka sube2011. described as Albaraka Turk, employment and continue to grow, increasing the number of branches. A Bolu in March, in Istanbul, Kurtköy, Istanbul, COUPLING, Kucukkoy, Çekmeköy, Kocamustfapaşa neighborhoods by opening a total of seven branches, the number of branch 124 conveys the first participation bank in Turkey, in 2700 the number of employees in branch offices' e released.  (source)

BANKING - Islamic participation banks earn $450 mln in profit in 2011

www.todayszaman.com - Participation banks, which refrain from being involved in financial activities deemed forbidden in Islamic teaching, increased their profit by 6 percent, to TL 850 million ($450 million), in 2011 compared to 2010.

According to a statement released by the Participation Banks Association (TKBB) on Monday, the financial institutions' assets and equity capital have also grown by 29 percent and 13 percent, respectively, year-on-year to TL 56 billion and TL 6.1 billion. Their assets were only TL 3.9 billion in 2003. (source)

BANKING - Turkey Finance 2011 profit of 231.6 million pounds - bond in the pipeline

www.finansglobal.com - Increased by 30 percent by 2010 compared to the size of the fund utilization raises billion liras 10:35 Turkey Finance, continues to support the economy and bank customers, an increase of 26.5 percent 13:53 billion pulled in asset size.
Important steps to reach the target point within the next five years that would carry Turkey Derya Gürer General Manager of Financial Participation Bank on the subject: "In 2012 we will be again in a rapid and effective growth strategy. The basis of this growth, largely completed in 2011, the quality of human resource development, expansion of product range, increase the quality of service, branch network expansion and has several projects such as the increase of technological investments. "He said. (source)

BANKING - Turkiye Finans Net profit has increased the bond will be issued

www.dunya.com - ISTANBUL - Turkey Finance 231.6 million pounds in 2011 while net profit increased by 13 percent, the bank plans to issue bonds without interest under the 2012 targets. Director General of Turkey Derya Gürer Financial Participation Bank, the financial results of the assessment year 2011 statement, the interest-free bonoihracı Finance and the bank's growth in Turkey as a base for supplying the necessary preparations took a long-term funds, interest-free bond issuance by the end of 2012 said they would perform.

Gürer also a fast and effective growth strategy in 2012 would be in the SME segment will continue to be one of the priority areas, he added. Turkey Finance, an increase of 13 percent in 2011 over the previous year, achieved a net profit of 231.6 million pounds. Increased by 30 percent by 2011 compared to the size of the fund utilization raises billion liras 10:35 Turkey Finance, an increase of 26.5 percent 13.5 billion pounds in asset size released. (source)

BANKING - Becoming finance base a hard task for Istanbul - Celik (Bank Asya) predicts growth for participation banking

www.hurriyetdailynews.com - Professionals from Turkey’s biggest lenders, participating in the 1st Uludağ Economy Summit, expressed their support for Turkey’s bid to make Istanbul into a regional finance center, while saying that the task will not be an easy one.

While London tops the list of world finance centers, Istanbul remains at number 62 out of 75, said Faik Açıkalın, general manager of Yapı Kredi Bank, speaking at the summit, held in the northwestern province Bursa. Since the start of the economic crisis in 2008, many foreign investors and financial institutions have left Dubai, Açıkalın added. “This is a chance for Turkey.” However, according to Açıkalın, Turkey’s dream will not be easy to realize, due to Istanbul’s current performance compared to its competitors across the world. “Despite the crisis, the list of Europe’s Top 20 finance centers includes Athens, but Istanbul does not appear on the list. Seoul, Shanghai and Singapore are in the list of possible candidates as global finance centers, but Istanbul is not.”  (source)

BANKING - Al Baraka eyes more growth, Turkey Sukuk

www.tradearabia.com - Bahraini Islamic lender Al Baraka Banking Group aims for 15 per cent growth in net profit this year and plans to buy a 75 per cent stake in an unlisted Indonesian bank as part of its global expansion plan.

'We are in talks with Chinese shareholders of an Indonesian bank and hope to buy close to 75 per cent stake this year,' Adnan Ahmed Yousif, Al Baraka's chief executive, told Reuters in an interview.

'Our plan is to invest around $100 million in this deal,' he said, noting that the targeted bank, which he declined to name, is a conventional lender that will eventually be converted to Islamic.  (source)

BANKING - Albaraka Turk's 2011 net profit of 160.2 million TL

www.finansglobal.com - Albaraka Turk Participation Bank increased by 19.5 per cent of net profit for the year 2011 amounted to 160.2 million pounds.

(Finansglobal) - The Bank's fourth-quarter net profit increase of 18 percent and amounted to 50 million pounds.

Albaraka Turk on the other hand, net profit amounts to be allocated in accordance with law and the Convention on the abdomen after leaving the remaining equity in order to ensure the continuation and strengthening of growth in share of internal resources, decided to leave as extraordinary reserve fund. (source)

BANKING - Asia Bank net profit of 216 million pounds

www.dunya.com - Bank of Asia fell 17 percent in net profit for the end of 2011 solo. Net profit share revenues increased by around 6 percent of the 631.2 million pounds.

ISTANBUL - Bank of Asia 17 per cent drop in net profit for solo end of 2011 amounted to 216.09 million pounds.

Solo in 2010, the Bank's net profit was 259.96 million pounds. (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 - The winner was the participation banks

The volume of domestic credit in the banking sector at the end of November this year increased by 38.3 per cent over the same month of last year is estimated at 621.3 billion pounds.

ANKARA - Deposit banks' net profit this year by the end of October of last year decreased by 13 percent over the same period was 15 billion 122 million 891 thousand TL. Participation banks in the same period, net profit increased by 5.3 per cent reached 661 million 112 thousand TL.  (source)

BANKING -Kuwait Finance House plans to continue its pivotal role in Turkish market, says Chairman

ameinfo.com - Chairman of Kuwait Finance House in Turkey Mohammed Al-Omar announced that the bank plans to continue its pivotal role in the Turkish market, in addition to cementing its strategy that is based on strengthening economic relations with neighboring countries, and with Kuwait and other GCC countries.

He added that the bank also plans to continue offering Islamic products and instruments that can broaden the horizon of Islamic banking in the Turkish economy, such as sukuk, murabaha, and ijarah.

Al-Omar went on to say during a forum held in Turkey that was attended by Turkish Minister of Finance and Minister of Economy, in addition to other economic, business and political figures, that KFH-Turkey has become a source of motivation for many Turkish banks and financial institutions. (source)