Halkbank's Net Profit Down 10 Pct To 1 Bln Tl

ISTANBUL - Turkey's state-controlled Halkbank said Wednesday its 2008 net profit was down 10 percent to 1.018 billion TL (nearly 580 million USD).
Halkbank's net profit was 1.131 million TL in 2007.

The bank's total assets climbed to 51.1 billion TL from 40.2 billion TL, Halkbank's CEO Huseyin Aydin told a press conference in Istanbul.

Aydin said that the bank's market share rose to 6.7 percent in total loans, which was up 42.6 percent at 25.8 billion TL, and 4.8 percent in personal loans.

Aydin said the rate of troubled loans dropped to 4.7 percent from 5.4 percent.

"So, it means that, there is no such terrible situation as some poeple say. Of course, the situation before and after September 2008 are different. But there is nothing to be deeply worried about," Aydin said.

Aydin also said that Halkbank employed 2003 new personnel and opened 32 new branches last year. He said the bank opened 11 new branches since the beginning of 2009 and plans to open at least 25 more in the rest of the year. (TÇ-AÖ)