Contributing to the improvement of the participation banking sector through its innovative products and services and sustaining its stable growth, Kuveyt Türk has disclosed the financial figures for the first half of the year. Increasing its net profit to 479 million TL with an increase by 37,5 percent compared to the same period of the previous year, Kuveyt Turk’s total assets and shareholders equity have reached 67.3 billion TL and 5 billion TL, respectively.
Outperforming its financial targets in the first quarter of the year, Kuveyt Türk has maintained its success in the second half, too. Kuveyt Türk has increased its net profit to 479 million TL with an increase by 37,5 percent in the first half of this year as compared to the same period in the previous year. The size of the funds collected during this period has reached 48.3 billion TL increasing by 21,2 percent compared to the end of 2017 while the funds made available has reached 46,1 billion TL increasing by 21,4 percent. Kuveyt Turk’s total assets reached 67.3 billion TL while its shareholders equity exceeded 5 billion TL.
Ufuk Uyan: We will keep our interest in project financing
Commenting on the results in the first half of the year, Mr. Ufuk UYAN, Kuveyt Türk’s General Manager said, “We have contributed to the sustainable growth by providing funds of more than 700 million dollars to the renewable energy market, so far. We have also financially supported mega projects such as Çanakkale 1915 Bridge, Niğde-Ankara Motorway which make outstanding contribution to the development of our country. We will continue to contribute to project financing in the upcoming period.”
Mr. Uyan went on to say, “We are at the service of our clients with four branch offices of KT Bank AG, 100 percent subsidiary of Kuveyt Türk. With an asset size of around 300 million Euro, KT Bank AG will expand of service network with its fifth branch office due to be opened in Munich during the forthcoming period. It is one of the most important aims of our bank to increase the accessibility of the interest-free financial system throughout Europe with developments in digital banking and ever expanding geographical coverage.”
“We grow soundly and in a well –disciplined way”
Stating that their NPL ratio of 1.84 percent, below the market average is an indication of their sound and well-disciplined growth, Mr. Uyan “We are continuously improving our customer-oriented service model and carry out projects to achieve a better business model in our ever-expanding network of branch offices. Our bank is aiming at increasingly continue our technology investments and improve our services offered through all channels by accelerating the digital transformation in the forthcoming period. While contributing to the inclusion of the so-called home-kept gold assets to the economy, we are prioritizing to further improve the gold banking enabling the gold owners to save and earn. Continuing the funding of the individuals and companies for their financing needs arising from actual trade transactions, we are aiming to contribute to the real economy in the remaining part of the year.”