Turkiye Is Bankasi (TIBD) - 3rd Quarter Results
RNS Number : 1680R
Turkiye Is Bankasi
14 November 2012
Isbank 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
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
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
* Isbank's bank-only and consolidated financial statements for 2012Q3 are
This information is provided by RNS
The company news service from the London Stock Exchange
QRTZMMMMRDFGZZM -0- Nov/14/2012 18:25 GMT
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