Turkish firms’ profits soar in 2007
Several major Turkish companies have released their profit figures for the first nine months of 2007, reporting significant increases.
Mobile phone operator Turkcell yesterday announced a net profit of YTL 1.28 billion in the first nine months of 2007. According to the statement sent by the company to the İstanbul Stock Exchange (İMKB) yesterday, Turkcell’s net profits increased by half from last year’s figure for the same period, YTL 852 million. Turkey’s second-largest private bank, Akbank, on Wednesday announced a net profit of YTL 1.6 billion for January-September 2007; a 30 percent rise over the same period last year. The gross profit of the bank before tax was announced at YTL 1.96 billion. In this period Akbank’s bank-issued loans increased by 19 percent to YTL 35.9 billion. Interest-free participation bank Albaraka Türk on Thursday announced a net profit of YTL 57.3 million for the first three quarters of 2007. The bank’s profit before tax was YTL 73 million.
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