TURKEY'S AKBANK MAKES 1.3 BILLION LIRA NET PROFIT

Ziya Akkurt, Director General of Akbank, said the bank pursued a consistent strategy at a time when there was global financial turbulence, and made no concessions from the active qualities and financial performances.
Akbank CEO Akkurt said the bank's capital adequacy ratio was 19 percent, which was one of the highest ratios not only in Turkish banking sector but also among the global banks.
Akkurt said Akbank provided 44 billion TL support to economy through loans in the first half of 2009.
"Akbank continues to make investments in order to meet the needs of its clients at a time when economy goes through a difficult turning point in the world. Construction of Akbank Banking Center is underway. We expect the center to go into effect in 2010," he said.
Akkurt said Akbank initiated necessary process to inaugurate a branch in Dubai to make use of the opportunities in the Gulf countries and to attract the entrepreneurs to Turkey.
Akkurt said Akbank signed a framework agreement in June enabling 100 million USD loan from Chinese Eximbank to be used in foreign trade dealings, "we think that trade volume between Turkey and China will gain momentum after this loan is presented to the use of real sector."
Akkurt said Global Finance and Euromoney named magazines named Akbank Turkey's best bank in its Awards for Excellence 2009.
Akbank was founded in 1948, originally to provide financing for the cotton producers in Turkey's south. Today, together with its core banking activities, the bank offers a wide range of retail, commercial, corporate, private banking and international trade finance services.
With its strong and extensive domestic distribution network that includes 715 branches and 13,513 employees, Akbank operates from its headquarters in Istanbul and 20 regional directorates around Turkey. Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.