Turkish participation bank, the Kuveyt Turk, reported a 22 percent increase in its net profit for 2009 with 127.1 million Turkish liras (83 million USD).

The bank said in a statement that number of branches increased to 130 with 17 new ones across the country and number of personnel rose to 2,500 in 2009, the 20th anniversary of the bank's foundation.

The assets of the bank rose to 807.3 million TL with a 18 percent rise in 2009.

Kuveyt Turk is a special finance house established in 1989. Shareholders include the Kuwait Finance House, the Kuwait Social Security Institution, the Islamic Development Bank and the General Directorate of Associations Turkey.


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