VAKIFBANK CONTRIBUTES TRY 584BN TO NATIONAL ECONOMY

Vakifbank’s support to the national economy surged by 28% to TRY 584bn in the first half of the year (H1), compared to the same period of the previous year, according to the bank’s financial statement. The bank’s total asset size rose by 35% and surpassed TRY 729bn in this period while is net profit amounted to TRY 1.4bn. Vakifbank’s total loans also increased by 24% to TRY 459bn on an annual basis. “While deposits remain our main funding source, we continue to work to diversify our funding structure,” said Abdi Serdar Ustunsalih, Vakifbank CEO.