Turkish Banks continue to profit

Turkish banks have continued to post profits for the first six months of the year, despite all the recent talk about the Turkish Lira.

According to statements, Yapi Kredi Bank, the largest private bank in Turkey posted a profit of 1.1 billion Turkish Liras net. Total revenues were up 3 percent year on year, climbing to 3.2 billion Liras.

The state run bank, Halkbank, posted a net profit of 1.03 billion liras for the period. And Halkbank released a statement to say that the total amount of loans it issued had reached a figure of 67 billion liras.

Turkey’s Bank Asya posted a profit of 103 million liras while total asset size had reached 15.6 billion liras. This compared with Turkey’s Garanti Bank who posted a healthy net profit and total assets which rose to an incredible 154.2 billion liras.

Data released by the Banking Regulation and Supervision Agency showed that year-to-date loan growth had risen by 18 percent to 631.9 billion liras, with annual growth compared to July 2010 at 37 percent.

In times of financial uncertainty all around Europe, Turkey is currently a strong nation in compared with the other countries. The banks are profiting and the Turkish economy is looking to grow from strength to strength.


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