WordBulletin

Turkey's participation banks posted 387.3 million USD of net profit in the first nine months of 2010, the Participation Banks Association of Turkey said on Monday.

An association statement said the net profit of participation banks of Turkey was up 13 percent in the mentioned period over the same period of 2009, and reached 557.6 million Turkish liras-TL (387.3 million USD).

The funds collected at participation banks were up 13 percent and reached 30.4 billion TL (21.1 billion USD).

The total assets of the banks rose 17 percent to 39.5 billion TL (27.4 billion USD) in the first nine months of 2010 over the same period of 2009.

The number of participation bank branches was up 6 percent to 595 and the banks employed 12,404 people in the mentioned period.

The Participation Banks Association of Turkey has currently four members, including Albaraka Turk, Bank Asya, Kuveyt Turk, and Turkiye Finans. The head office of the association is in Istanbul.


AA