Kuveyt Türk closes Q1 2016 with a profit of 125 million TL

Kuveyt Türk Participation Bank has closed the first quarter of 2016 with a net profit to TL 125 million with an increase by 25 percent compared to the previous year.


Kuveyt Turk’s total assets and shareholders equity have reached 42,3 billion and 3,5 billion TL, respectively. During the same period, fund size of the Bank has reached 27,7 billion TL while the funds made available has reached 28 billion TL. “We are targeting an asset growth exceeding 50 billion TL with a growth rate of 20 percent as of the end of 2016”

Stating that they have achieved successful results in the first quarter of the year, Mr. Ufuk Uyan, the CEO of Kuveyt Türk said “We have achieved the figures in excess of the sector average in terms of growth and profitability. We are a bank maintaining its growth on a stable path for 27 years. We strive to improve the product and service quality depending on the prevailing conditions and needs by quickly adapting to changing environments. We will continue to offer the best to our clients and keep our ambition to offer innovative solutions without compromising our ‘solid banking’ principle.”

Commenting also on their targets for 2016, Mr. Uyan said, “We continue to offer participation banking services to more and more people this year, too.. Our bank ranked as the top three among the banks that opened the highest number of branch offices during the first quarter is aiming at opening 30 more branch offices as of the end of this year and reaching an asset size in excess of 50 billion TL with a growth rate of around 25 percent. On the other hand, our agenda during the new period include the important matters such as digital banking, investment funds that we can offer to our clients through our new subsidiary KT Portföy and the SME/trades banking. The share of the SMEs constituting 99% of the companies founded in Türkiyein the funds made available by our bank has exceeded 37 percent. We are also diversifying the products and services in the field of SME Banking including leasing, transaction banking and foreign trade.” "We develop our Alternative Distribution Channels"

Stating that they have changed the service channels in line with emerging technologies and needs of clients, Mr. Uyan added, “More than two thirds of the transactions performed with our Bank are now performed through using alternative distribution channels. With our continuously improved mobile and online branch offices, we continue easing the lives of our clients”.