Profit of Turkey’s Akbank decreases since early 2019

Finance Materials 3 September 2019 19:19 (UTC +04:00)

Baku, Azerbaijan, Sept. 3

By Eldar Janashvili - Trend:

Akbank, one of the biggest banks in Turkey, completed the first half of 2019 with a net profit of 2.667 billion liras, while the first half of 2018 was completed with a profit of 3.28 billion liras, Trend reports citing the bank’s financial report.

Over the year, the bank’s profit decreased by 18.7 percent.

According to the six-month report, the bank’s net interest income grew by almost 7 percent. Its volume amounted to 7.71 billion liras and was generated through interest income in the amount of 18.724 billion liras (an increase of 23 percent for the year) and interest expenses of 11.014 billion liras (an increase of 37.8 percent for the year).

Non-interest income at the end of the reporting period grew by almost 10 percent and amounted to 10.307 billion liras. Non-interest expenses amounted to 6.852 billion liras, which is an increase of 30.7 percent.

Thus, the bank’s operating profit in 1H2019 amounted to 3.456 billion liras, while in January-July 2018, Akbank had an operating profit of 4.162 billion liras.

($1= 5.7830 TRY on Sept. 3)