The CEO, speaking at a press conference on Wednesday about the bank’s new image, created as part of its 25th anniversary, noted that they were expecting this new image’s impact to be reflected in deposits.
Yahşi noted that Albaraka Türk currently has 100 branches and that it plans to double this number within the next five years. Moreover, he revealed that the company would be maintaining a balance between growth and profit, continuing to provide shareholders with a share of the profits while also growing as a company.
The CEO noted that Albaraka Türk, which is currently tied with Küveyt Türk for third-largest participation bank in Turkey, planned to overtake its rival for the third place spot outright.
These openly competitive remarks mark one of the first times that a CEO of a participation bank has spoken about overtaking another bank in the same sector. Citing financial figures, Fahşi noted that profits in the first three quarters of the year were TL 82 million.
