Last checked at 14 Nov 2012 18:25
14.11.2012Isbank achieved TL 2,345 million net profit at the end of the third quarter
Isbank's total assets have reached TL 167 billion and its total shareholders' equity has risen to TL 21 billion. The Bank has posted TL 2,345 million net period profit.
In his written statement on the results of the first nine months of the year, Isbank's Chief Executive Officer Mr. Adnan Bali stated that; Isbank has raised its asset size to TL 167 billion and its shareholders' equity to TL 21 billion and said, "With the contribution of strong shareholders' equity and high quality assets, the Bank's net profit has increased by 30.1 % compared to the same period of the previous year and reached TL 2,345 million. The Bank continued its policy of steady and profitable growth in this period, too, and preserved its position as Turkey's biggest bank".
Biggest Lender in the Banking Sector
Raising its loan portfolio to TL 99 billion, Isbank has maintained its leading position by far in the sector in terms of lending. Isbank has always aimed to give optimum support to the real economy in a way to create mutual value. The Bank has also continuously taken innovative steps to meet the retail customers' needs in the best possible way and kept contributing directly or indirectly to industry, exports, production and employment and remained near to its customers.
Isbank is determined to continue its extensive lending policy by pursuing its target of contributing to the economy and by increasing the support to its customers. Within this framework, in order for both diversifying its funding sources and increasing its support to the domestic economy and the real sector by extending its lending capacity, Isbank has procured a total of funds amounting to USD 1,500 million, by using the opportunities provided by the prevailing market conditions. USD 1 billion of these funds are qualified as subordinated loans sold to international investors in the foreign markets with a term of 10 years, and USD 500 million of them are bond issues with a term of 5 years.
With its Deposit Base Exceeding TL 100 Billion, Isbank is the Constant Leader of Private Banks
With its extensive branch network, high service quality and its customers' trust, Isbank maintained its leading position among private banks for many years. Isbank's deposit base has exceeded TL 100 billion and risen to TL 102 billion. In this period, Turkish Lira savings deposits, the major deposit item, has reached TL 42 billion.
Strongest Private Bank
With the results it has achieved, Isbank has managed to strengthen its financial structure and increased its shareholders' equity by 16.8 % to TL 21 billion in the first nine months of the year.
With the help of strong lending growth, the Bank has raised its net interest income and also had a good performance in transactions with commissions. The Bank's net period profit was TL 2,345 million. Focused on sustainable and good quality profit, Isbank kept its profitability performance, using the funds it has achieved in the most efficient way.
At the end of his statement, Isbank's Chief Executive Officer Mr. Adnan Bali said, "With the size and results it has achieved, the Bank has also become the biggest bank in the Turkish banking sector as well as "the leader of the private banks". With its experience and know-how, Isbank leads the banking sector and successfully represents Turkey on the international platform through investing in the nearby geography. Isbank will continue to support the real economy and the Turkish economy and decisively implement its healthy growth strategy".
* Isbank's bank-only and consolidated financial statements for 2012Q3 are available at:
http://www.isbank.com.tr/English/content/EN/Investor_Relations-548-363.aspx