Dexia To Provide 400 Mln Ytl Additional Capital To Denizbank

BRUSSELS - Belgian-French commercial bank Dexia said Friday it would provide 400 million YTL (about 200 million Euro) additional capital to DenizBank, its 99.80%-owned Turkish subsidiary.
"These resources will add capacity for DenizBank to finance its superior and profitable growth in the strongly developing Turkish banking market," Dexia said in a statement.
The additional capital will increase DenizBank total shareholders` equity by 24% to 2.1 billion YTL.
In 2007, DenizBank`s expansion was marked by a 22% increase in the number of branches in Turkey (320 at the end of December), a growth rate twice as big as market growth.
"The number of salespeople increased by 33%, total loans jumped 51% to 13.4 billion YTL and deposits grew 21% to 10.8 billion YTL. Profitability remained strong with a ROE of 22.5%. DenizBank is developing further in 2008 and 80 new branches are planned this year. Key growth segments remain Retail, SMEs and Commercial clients, in line with the bank`s strategy," the statement said.
(YMB-ULG)