Posted by meb at February 22nd, 2007

Economy Minister and chief EU negotiator Ali Babacan put the net profit of 2006 for Ziraat Bank at YTL 2.1 billion, qualifying this figure as the highest profit record among all institutions including the banking sector. Ziraat’s loans to individuals rose to YTL 7 billion 575 million from YTL 558 million in 2002, said Babacan at a press conference, adding that Ziraat’s housing loans increased to YTL 2 billion 788 million in 2006 from YTL 37 million. The rate of follow-up loans to total loans fell remarkably, said Babacan, to 1.9 percent from 11.7 percent. The outstanding performance of the bank mainly stems from the fact that it has not been used as a political instrument over the past four years, said Babacan. In 2005, Ziraat Bank was the most profitable bank of Europe.

source: Today’s Zaman

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