According to fourth quarter results announced yesterday, the 20th anniversary of the third-largest participation bank brought growth through new branches and employment, increasing the number of branches by 17 to total 130 and employing more than 2,500 individuals. The bank enjoyed TL 127 million in profits, an increase of 22 percent over 2008. The increase in total assets amounted to 20 percent, bringing it to TL 807.3 million.
Kuveyt Türk CEO Ufuk Uyan, in evaluating the situation of the bank, said it passed great milestones both domestically and abroad. “Along with the 17 new branches we’ve established in Turkey, we’ve also opened a Financial Services branch in Germany, a representative bureau in Kazakhstan and a subsidiary in Dubai called Kuwait Turkish Participation Bank.” He also added that the bank is one of the most active players in the İstanbul Gold Exchange, where they buy and sell precious metals and commodities.
