Turkey-based Akbank has posted a net income for the 12 months to 31 December of TRY3bn ($1.7bn), up 18.5% from the year ago period.
Akbank CEO Hakan Binba?gil said: "Akbank gained remarkable market shares in almost all banking products and services, growing above sector averages. We accomplished a healthy and profitable growth. Our total assets topped TRY163bn, a 17% increase compared to 2011 year-end and we increased cash and non cash loans by 25% to TRY111bn."
Go deeper with GlobalData
Other highlights included:
- Akbank’s net interest income rose sharply by 22.5% to TRY5.35bn;
- Net fees and commission income rose by 8.9% to TRY1.79bn
- Total deposits increased by 12.3% year-on-year to TRY90.7bn;
- Total loans soared by 24.2% to TRY92.4bn;
- Akbank’s ongoing channel investment was reflected in a net increase of 35 outlets in its branch network to 962 in 2012, and
- ATM numbers increased by 9% to 4,027, the second-largest in Turkey.
Akbank’s retail banking cross-sell ratio improved to 3.1 products per person (2011: 3.0 ppp) by the end of 2012.
Related stories:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAkbank FY11 net income falls by 16%
Akbank to open 70 new branches in Turkey
Akbank’s strong focus on social media
