Denizbank announces SME lending surge of 147% in Q1
Denizbank, Zorlu Group's financial arm, has posted net earnings of TRL72 million for the first quarter of the year. The bank's lending to small- and medium-sized enterprises (SMEs) rose by 147 per cent to TRL563 million, according to the statement. Denizbank general manager Hakan Atethorn said they were striving to achieve sustainable growth in basic banking operations, a target that he said was realised in the first quarter. Atethorn promised continued concentration on SMEs, viewed as one of the most lucrative segments in the Turkish banking industry. In a written statement, Turkey's seventh-largest private bank said its assets increased by five per cent in the first three months of 2005 to TRL8.4 billion. Loans increased by 37 per cent to TRL4.4 billion, accounting for 52 per cent of assets. Source: Asia Intelligence Wire
All news and features older than 7 days are subscription only. This article is from the archive. Archived articles could only be accessed with the subscription. If you are a subscriber please log in, alternatively you need to purchase a subscription to view the full content for this page.
