Turkiye Finans Katilim Bankası AS, a Turkish bank that operates according to Islamic rules barring interest, will grow 25 percent this year, Aksam reported, citing Chief Executive Officer Derya Gurerk.
The shareholders are committed to increasing the bank’s capital to achieve a capital adequacy ratio that will support this rate of growth, Gurerk said, according to the newspaper.
Turkiye Finans will have more than 200 branches in Turkey by year-end and Gurerk said National Commercial Bank is “enthusiatic” about growth in the country, Aksam reported.
Istanbul, Turkey’s main city, can easily become a center of Islamic finance, the newspaper cited Gurerk as saying.
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