Turkey-based public
sector lender Ziraat Bank has posted a net profit of TRY2.10bn
($1.17bn) for the 12 months to 31 December, down 43%
year-on-year.
Total deposits fell by
10% to TRY113.1bn while total assets increased by 6% to
TRY160.7bn.
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Ziraat director general
Hüseyin Aydın said that Ziraat’s turnaround project would boost the
bank’s competitiveness and improve customer service.
Ziraat ended 2011 with
1,434 outlets, the largest branch network in the
country.
Ziraat retains global
ambitions and Aydin said that the bank remains committed to growing
its international network of 78 offices in 17 countries.
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