Al Baraka Turk Participation Bank, a subsidiary banking unit of Al Baraka Banking Group (ABG), achieved a rise of 16% in its net profit in the first nine months as compared to the same period in 2014.
The bank increased its equity by 10%, total assets by 27%, deposits by 23%, as well as financing and investments by 20% by the end of September.
Al Baraka Turk’s total operating income surged 20% to TRY 862 million in 9M.
After deducting operating expenses, net operating income increased by 12% to TRY 265 million, while net income reached TRY 212 million ($70.6 million); an increase of 16% year-on-year.
