Turkey’s largest public bank announces record TL 3.51 billion profit for 2009

Can Akın Çağlar, General Manager of Ziraat Bankası, Turkey’s largest public bank, announced a record profit of 3.51 billion TL on March 4. Çağlar said Ziraat’s total 2009 assets reached TL 124.5 billion, a 19% growth over 2008. The Bank also increased its amount of extended loans in 2009 from 2008 by 19%, worth TL 35.79 billion. Ziraat, which has 3,372 offices in 18 countries, also hired 2,500 new personnel last year.

The record profit for Turkey’s largest public bank is a reflection of the strength with which Turkey’s banking sector has weathered the global recession. Ziraat is looking to open new offices in the Balkans as Greek and Austrian banks are retreating from the region.

Source: Today’s Zaman

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