Turkish Halkbank’s assets increase by 11 percent

Business Materials 23 October 2012 16:13 (UTC +04:00)

Azerbaijan, Baku, Oct.23/ Trend, A.Taghiyeva /

Assets of Turkish bank Halkbank, which is preparing for privatization, as of Oct.1 totaled 102 billion lira compared to 91.9 billion lira during the same period of last year, the bank said in its report posted on its official website on Tuesday.

The bank's revenues during the period amounted to 1.8 billion lira compared to 1.2 billion lira in the same period of 2011.

Loans issued by the bank in January-September 2012 increased by 15 percent to 82 billion lira.

The bank's deposits increased by 12 percent and amounted to 76 billion lira for the first nine months of 2012 compared to the same period of 2011.

Turkish Halkbank plans to sell 80 percent of privatization share package to foreign investors.
Some 20.8 percent of the bank capital, which is going to be sold over next 6 months, has been put for privatization.

The 80-percent stake of the banks share package, put up for privatization, is estimated at 260 million liras. The remaining 20 percent will be sold to local private investors and local institutional investors, 10 percent for each.

The official exchange rate is 1.7863 Turkish lira to $1 on Oct.23.