10/8/2008

They said, ‘We will grow with Turkey' and remained untouched by the crisis

Turkiye – While the world giants such as Dexia, Citibank and Fortis have been thrown into a survival struggle, their associations in Turkey are enjoying their pleasant profits. Banks with foreign partners which have not suspended their investment plans despite the crisis since they rely on the Turkish market have succeeded in making a profit of approximately 5 billion YTL for the first six months of the year. During the first six months of the year, Akbank, which has partnership with Citibank, made a profit of 1.25 billion YTL; Denizbank, in which Dexia has shares, made a profit of 186 million YTL; Garanti, which is a partner of General Electric, netted 1.029 billion YTL; Yapi Kredi, which partnered with Unicredito, made a profit of 740 million YTL, while Fortis, which has been saved for the second time abroad, netted 155 million YTL and Finansbank, which has been acquired by the Greek, made a profit of 258 million YTL.