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 - Albaraka Turk opens branch in Arbil-Iraq

BANKING - Goal of becoming the best participation bank Albaraka

www.dunya.com - ISTANBUL - Albaraka Turk Participation banking area of ​​the founders of our country, undergoing transformation. Bank to open branch in Iraqi city of Arbil next week to 130 the total number of branches reached 150 branches to reach the target at the end of the year. Albaraka Turk General Manager Fahrettin Sherlock Holmes, in line with the interest-free banking in 2015, a serious transformation process, they got too far away from the foundation, said: "Continuous as the need to renew yourself, need to improve your processes. We have started a process of transformation within the company in this regard and this process will take approximately 3 years. Our goal is to become the world's best participation bank. to continue our growth plan to a bank in Turkey in 2015, medium-sized, "he said.  (source)

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)

BANKING - First Turkish participation bank enters Iraq

www.hurriyetdailynews.com - Albaraka Türk has become the first Turkish participation bank to open a branch in the city of Arbil in northern Iraq. The bank also plans to branch out to Qatar, Bahrain and Dubai in the near term and Europe, specifically Germany, Albania, Bosnia and Kosovo, in the medium term. “We are in Iraq to increase the presence of Turkish firms in the region, to support the development of the region and to modernize the Middle East,” Albaraka Türk’s general manager, Fahrettin Yahşi, told daily Hürriyet. Yahşi said Arbil was the most developed region in Iraq and on the brink of a re-birth, adding that Albaraka Türk was there to help the city reach its target of becoming a future Dubai. (source)

BANKING - Albaraka Türk opens first overseas branch in N. Iraq's Arbil

www.todayszaman.com - Albaraka Türk, one of Turkey's leading participation banks, opened its first branch at a well-attended ceremony on Wednesday in Arbil, the capital of the Kurdish Regional Government (KRG).

Albaraka Türk, established in 1985, selected Arbil as its first international location due to the high growth potential of the city and the high demand for financing there, both from individuals and businesses, Albaraka Türk General Manager Fahrettin Yahşi told participants at the opening ceremony. He added that he is honored to contribute to furthering the growth of economic ties between Turkish and KRG businesses and to finance Iraqi businesses. Albaraka is the first participation bank -- a type of Islamic bank that provides interest-free financing -- to open in Arbil. (source)

RATINGS - Capital Intelligence upgrades KFH-Turkey's rating

www.zawya.com - Capital Intelligence (CI), the international credit rating agency, announced that ithas raised the Financial Strength rating of KFH-Turkey. The rating is raised to'bb+' from 'bb,' underpinned by its very sound asset quality, good capitalprofile and continued good profitability, and the support rating of '2' is affirmed.

TheLong-term Foreign Currency rating is affirmed at 'bb,' while the Short-termForeign Currency rating is affirmed at 'b,' both at the same level as thesovereign rating. All ratings carry a 'Stable' outlook.  (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 - 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 - Move to Baghdad, Iraqi gov’t tells Turkish banks

The tensions between the central Iraqi government and the regional administration in north over disputes on oil fields is affecting Turkish lenders in Arbil. Baghdad calls on Turkish banks in Arbil to carry head offices to the capital city.

Turkish and Northern Iraqi top officials attend an opening ceremony of an airport in Arbil in this March 30 photo before they opened branches of Turkish banks there.  (source)

ECONOMY - BANKING - Economic integration with Turkey an antidote to tensions in Iraq (Albaraka Turk - Bank Asya)

Turkish and Iraqi business partners have faith that an accelerated economic integration between the two, driven by booming demand in Iraq’s ever-evolving north, will forge stability in the region while minimizing the possible adverse impacts of political tensions that some fear could ignite conflicts in the war-torn country.  (source)

BANKING - Turkish businesses expand in northern Iraq (Albaraka Turk and Kuveyt Turk follow)

TODAYS ZAMAN - The number of Turkish-owned businesses in the northern part of neighboring Iraq has increased significantly in the past few years, with more companies eager to take a share in the region's growing business potential, figures show. (source)

BANKING - Turkish Bank to Open Branch in Irbil in August (Albaraka Turk)

A Turkish participation bank will open a branch in the northern Iraqi city of Irbil in August, a bank statement said on Wednesday.
Participation bank Albaraka's branch will begin serving Irbil people in August.
It will be Albaraka's first branch in a foreign country.
"Irbil branch will contribute to bilateral relations between Iraq and Turkey," Albaraka's director general Fahrettin Yahsi said.  (source)

BANKING - Turkish Albaraka Türk, Bank Asya to open branches in N.Iraq

Two more Turkish banks have made arrangements to open branches in the northern Iraqi city of Arbil.

Following Ziraat Bankası, Vakıfbank and İş Bankası, Albaraka Türk and Bank Asya -- two leading participation banks in Turkey -- are making final preparations for their yet-to-be-opened offices in the city. (source)

BANKING - BDDK approves Vakıfbank request for Arbil branch

A request by state-owned Vakıfbank to open a branch in Iraq’s northern city of Arbil was approved by the Banking Regulation and Supervision Agency (BDDK), the bank said on Friday.

BANKING - Albaraka Türk eyes opening branch in northern Iraq

Emerging from the global financial crisis unscathed, several Turkish banks plan to expand into regional countries. Following Ziraat Bankası, İş Bankası and Kuveyt Türk, leading Turkish participation bank Albaraka Türk is also planning to open a branch in Arbil, northern Iraq, Fahrettin Yahşi, the general manager of the bank, said yesterday.