Ziraat Bankası Posts Record 2.1 Billion YTL Profit, Topping All Türkiye Institutions

State Minister and EU chief negotiator Ali Babacan announced in February 2007 that Ziraat Bankası recorded a net profit of 2.1 billion YTL (approximately 1.5 billion USD) for 2006, the highest of any institution in Türkiye.

Babacan told reporters that the bank's deposits nearly doubled between 2002 and 2006, climbing from 27.9 billion YTL (about 20 billion USD) to 59.1 billion YTL (about 43 billion USD), while net profit surged from 156 million YTL (around 112 million USD) over the same period.

The bank's total assets reached 71.9 billion YTL (roughly 52 billion USD), and agricultural lending grew 15 times compared with 2002 levels. Consumer, housing, business, and small-and-medium-enterprise loans all expanded significantly during the four-year span.

Babacan noted that Ziraat Bankası ranked first among European banks in profitability in 2005 and ninth globally. He credited the results to sound management and the bank operating free of political interference.

Historical summary. TurkishPress restated this wire report, first published in February 2007, in its own words.