Thursday, 5 November 2009
Turkey's state Halkbank recorded net profit of 1.2 billion Turkish liras (TL)(approximately 800 million USD) in the first nine months of 2009, whereas private Sekerbank had a net profit of 129 million TL (86 million USD) in the same period.
Halkbank raised its total credits to 30.5 billion TL (20 billion USD), and its assets to 57.2 billion TL (38 billion USD) in the first nine months.
Sekerbank's assets reached 8.5 billion TL (5 billion USD), and its total credits were around 5 billion TL (3 billion USD) between January and September 2009.
Turkish state-owned Halkbank was established in 1938. It initially lent money indirectly through "popular funds", before being authorized in 1950 to open branches and lend money directly. Today, it is the 7th-largest bank in Turkey in terms of assets.
Established in 1953 as the "Sugar Beet Cooperative Bank" in Eskisehir, Turkey. Sekerbank commenced its activities by pooling the modest savings of the sugar beet growers belonging to the cooperatives. In 1956, the Bank relocated its headquarters to Ankara and changed its name to Sekerbank.
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Thursday, 5 November 2009
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