Market share gains boost Akbank FY12 results

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."

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:

Akbank FY11 net income falls by 16%

Akbank to open 70 new branches in Turkey

Akbank’s strong focus on social media