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Kuveyt Türk closes the year 2015 with a net profit of 445 million TL

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Kuveyt Türk Participation Bank has closed the year 2015 with a net profit to TL 445 million with an increase by 20 percent compared to the previous year. Kuveyt Turk’s total assets have reached 42 billion TL increasing by 24 percent and its shareholders equity has reached 3, 4 billion TL increasing by 13 percent as of the end of 2015 as compared to the figures as of the end of 2014. Its collected funds have reached 28 billion TL increasing by 27 percent and the funds made available by Kuveyt Türk have reached 27 billion TL increasing by 27 percent in the same period.

Our efforts to grow in overseas market stand out in the new period.

Stating that they have achieved their year-end targets as planned, 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 as of the end of the year. We are a bank maintaining its growth on a stable path for 27 years. Our success is mainly based on our approach to accurately read the customer needs and develop corresponding products.”

Commenting also on their targets for 2016, Mr. Uyan said, “We are planning to focus our activities in 2016 on SME/tradesmen banking, portfolio management and digital banking. Our focus for this year will be on the development and deployment of alternative distribution channels. With the opening of 52 branch offices in 2015, we have opened highest number of branch offices among the privately-owned banks. We will be opening 30 new branch offices throughout the year 2016 in en effort to be much closer to our customers. On the other hand, we have prioritized to continue the improvement of our private banking services and the portfolio of our German subsidiary KT Bank AG. Our efforts to grow in overseas market stand out in the new period.

Source: Kuveyt Türk