ISTANBUL - The head of a leading Turkish bank said on Monday that his bank had taken severe saving measures against the atmosphere of crisis that would be influential in 2009.
Speaking to reporters at a meeting in Istanbul, Ergun Ozen, Director General of Turkey's Garanti Bankasi, said that his bank would continue to grant credits in 2009.
"We are planning a 10 percent increase in credits this year," Ozen said, adding that he hoped Garanti Bankasi would reach such target.
"2009 will be a year of crisis. We have taken severe saving measures in all our expenditures. We have found a saving measure of nearly 200 million USD in our budget and we have removed it," he said.
Ozen said that Garanti Bankasi would open nearly 35-50 branch offices and it would employ approximately 350-400 people throughout 2009.
Ozen also said that he expected the delinquent receivables to increase during the crisis. "Our bank is one of the best in its sector. Our figures are around 2.5 percent, however, I see these figures reaching 3.5 percent," Ozen said.
"As we can easily allocate the necessary equivalent thanks to our equity and profit, I think 3.5 percent is a quite good figure. Our expectation for the end of 2009 is 3.5 percent. We closed 2008 with 2,3-2.4 percent," he added.
Garanti Bankasi is the second largest private bank in Turkey with 65.6 billion USD consolidated asset size as of December 31, 2007. The bank provides retail, commercial, corporate and private banking services to over 6.9 million customers.
(DO-AÖ)
(ECO)