Last checked at 12 Feb 2014 18:26
12.02.2014
İşbank disclosed its 2013 year-end financial statements.
İşbank completed 2013 as the largest bank in Turkey with total assets amounting to TL 210.5 billion.
In his statement, regarding the 2013 financial results, İşbank's CEO Mr. Adnan Bali mentioned that; "Although developments in international financial markets had negative effects on emerging market economies, 2013 has been a year in which İşbank continued to support the Turkish Economy, both by expanding its loan volume and its service network."
İşbank's total assets increased by 20% compared to the previous year, reaching TL 210.5 billion in 2013. Achieving TL 3.2 billion net profit in 2013, İşbank maintained its market leadership, in terms of total assets, loans and shareholders' equity.
Retaining its position as the largest bank in Turkey in 2013 as well, İşbank raised its total assets to TL 210.5 billion with an increase of 20%, while its shareholders' equity stood at TL 23.6 billion. İşbank posted a net profit of TL 3.2 billion in 2013.
Loan portfolio of İşbank, which has reached the amount of TL 134.8 billion with an increase of 26.4% in 2013, made the largest contribution to the asset growth. By the end of 2013, İşbank's and its financial subsidiaries' contribution to the Turkish Economy through cash and non-cash loans reached TL 185 billion. Aiming to access every corner in Turkey with its extensive banking services network, İşbank once again provided significant contribution to the economic growth and employment via the financing opportunities it extended the customers of all scales. Within İşbank's loan portfolio, which constitute the %64.1 of total assets, the amount of business loans reached TL 96.4 billion. Thanks to these results, İşbank further strengthened its position of being the most supportive financial institution to production and real economy.
Pointing that İşbank maintained its asset quality in 2013 as well, İşbank's CEO Mr. Adnan Bali mentioned that; "During our lending facilities we attached utmost importance to effective resource allocation and healthy growth, as always." As of the year-end 2013, the Bank's non-performing loan ratio stood at 1.6%, which is below the sector average.
Thanks to its extensive branch network and expanding distribution channels, İşbank's deposit volume rose by 14.8% reaching TL 121,0 million. The Bank, maintaining the leading position in terms of total deposits among private banks, continued to make use of foreign borrowing opportunities in 2013. In this framework, The Bank secured syndication loans amounting to more than USD 2.5 billion through the agreements signed on May and September 2013. In addition to that, via domestic and foreign bonds issuances, İşbank obtained funds, amounting to USD 1.8 billion and TL 600 million.
In 2013, İşbank expanded its branch network, opening 59 domestic branches and 1 foreign branch. As of year-end 2013, number of domestic branches reached 1289 and number of foreign branches reached 20. In 2013, İşbank whose ATM number reached 5673, maintained its leading position as the Bank who has the largest and the most extensive ATM network in Turkey.
*İşbank's bank-only and consolidated financial statements for 2013YE are available at:
http://www.isbank.com.tr/English/content/EN/Investor_Relations-548-363.aspx