Kuveyt Türk Enjoys Net Profit of 542 million TL in 2016 Increasing by %22

Kuveyt Türk Participation Bank Inc. has Closed the Year 2016 With a Net Profit to 542 million TL With an Increase by %22 Compared to the Previous Year.


Kuveyt Türk Katılım Bankası A.Ş. has closed the year 2016 with a net profit to TL 542 million with an increase by 22 percent compared to the previous year.  Kuveyt Turk’s total assets have reached 48,5 billion increasing by 15 percent and its shareholders equity has reached 3,9 billion TL increasing by 15 percent as of the end of 2016 as compared to the figures as of the end of 2015. Its collected funds have reached 31,9 billion TL increasing by 13 percent and the funds made available by Kuveyt Türk have reached 30 billion TL increasing by 11 percent in the same period.

We are aiming to reach 400 branch offices in 2017.

Stating that they have achieved their year-end targets as planned, Mr. Ufuk Uyan, the CEO of Kuveyt Türk said, “Just like in 28 years, we as Kuveyt Türk continued our stable growth and contributing to Turkish economy also in the year 2016. With 27 branch offices opened this year, we have reached 385 domestic branch offices as of end of the year. We enjoy the most widespread network of branches in the sector. The success of our approach toward the quality and swift customer services at the nearest point possible has been reflected in our financial results.”

Commenting on 2017 targets of the bank, Mr. Uyan explained, “Our priorities for 2017 are efficiency, digital product diversity and growth in project financing. We are aiming to reach 400 branch offices at the end of the year. Our focus for the period ahead is to deepen in our young branch offices and to maximize our efficiency level in our well-established branch offices. We also aim to expand the diversity of the products and services offered in the Internet and in mobile channels to customers.  Furthermore, we will focus on financing of projects to contribute to the sustainable growth of our country and increase our support for such projects.  Again in 2017, we will continue our efforts to grow and deepen the sukuk market in TürkiyeWe will pay special attention to developing the most suitable banking services for the needs of our customers in Germany where we have opened our 4th branch office this year and deepening in that country”.

Kuveyt Türk has issued Tier-II sukuk of 350 million dollars in February, 2016, domestic lease certificate of 300 million Turkish Liras in May and international sukuk of 500 million dollars in October this year keeping its title of being the largest sukuk issuer in Türkiye this year, too.  In terms of gold accounts, Kuveyt Türk ranks the first among the participation banks and the second among all the banks.