Akbank’s 2011 profits drop 13 pct

ISTANBUL - Hürriyet Daily News

Binbaşgil, newly appointed genral manager of Akbank says small business and corporate loans increased in 2011.

Akbank, a Sabancı Holding subsidiary, posted 2.5 billion liras in profits for 2011, which is nearly 13 percent below the 3.2 billion liras that it recorded in 2010. 

The bank’s total assets grew 17 percent in the period to reach 140 billion liras. Cash and non-cash loans grew by a total 30 percent in 2011 to exceed 88 billion liras. 

In a written statement, Akbank General Manager Hakan Binbaşgil said loans to Small Medium Enterprises (SMEs) and corporate loans resulted in a 30 percent increase year on year to reach 49 billion liras. Credit card and consumer loans also increased 27 percent to over 25 million liras.

Akbank opened 35 new branches in 2011, bringing its total number of branches to 926. The number of Akbank ATMs increased by 568 to reach 3,695. As of the end of 2011, A kbank has the second most ATMs among private banks in Turkey. In addition, Akbank hired 328 new personnel in 2011.