Kuveyt Türk has completed the first quarter of 2018 by attaining its financial targets. Increasing its net profit to 203 million TL with an increase by 33,4 percent compared to the same period of the previous year, Kuveyt Turk’s total assets and shareholders equity have reached 60,7 billion TL and 4,8 billion TL, respectively.
Contributing to the improvement of the participation banking market through its innovative products and services, Kuveyt Türk has disclosed the financial figures for the first quarter of 2018. Kuveyt Türk has increased its net profit to 203 million TL with an increase by 33,4 percent in the first quarter of this year as compared to the same period in the previous year. The size of the funds collected during the first quarter has reached 42,9 billion TL increasing by 7,6 percent compared to the end of year while the funds made available has reached 42,4 billion TL increasing by 11,8 percent. Kuveyt Turk’s total assets and shareholders equity have reached 60,7 billion TL and 4,8 billion TL, respectively.
Mr. Ufuk UYAN, Kuveyt Türk’s CEO said in a statement made with respect to the first quarter’s results, “Following a successful year, we have been able to continue our growth by achieving our targets in the first quarter of 2018. Our NPL ratio of 1,77 as of the first quarter, which is below the market average, is an indication of sound and well-disciplined growth of our Bank. We continue providing affordable financing in an effort to maintain our support to the economy and real sector of our country. In the first three months of the year, we issued sukuk in an amount of 1 billion 250 million TL. As a reflection of client-friendly service model, we continue diversifying, renewing and extending our services offered through our branch offices, internet branch, mobile branch, ATM and XTM branches, with the account taken of the needs and demands of our clients. We aim to continue our efficiency efforts without losing our focus on technology and innovation, to speed up the digital transformation, to expand our geographic coverage by opening new branch offices and outperform our success achieved in 2017 in terms of the funds collected and made available.”