İş Bankası boosts net income to 38 billion Turkish Liras

ANKARA

Net income of private lender İş Bankası leaped from 7.05 billion Turkish Liras in the first nine months of 2021 to 38 billion liras in January-September 2022.

The bank’s net interest income grew 166 percent on an annual basis to 53 billion liras, while total operation income exhibited a 238 percent year-on-year increase to 70.5 billion liras.

Operation profit was 46.7 billion liras in the first nine months of the year, up from nearly 10 billion liras in the same period of 2021.

Assets of the lender grew 39.3 percent compared with the end of 2021 to amount to 1.29 trillion liras, which makes İş Bankası the largest private lender in Türkiye by asset.

Loans provided by the bank increased by 39.7 percent from the end of last year to 689.2 billion liras in the third quarter, with consumer loans increasing from 85.2 billion liras to 102.1 billion liras, while deposits collected by the lender grew 40.6 percent over the same period to 838 billion liras.

The non-performing loans ratio was 3.2 percent in the third quarter, rising from 3 percent in the second quarter of 2022 but fell from 3.8 percent in the third quarter of 2021.

As of September, İş Bankası has 1,119 domestic -largest among private banks- and 21 foreign branches. It operated a network of 6,149 ATMs, also the highest number among private banks. İş Bankası had around 11.5 million digital customers as of September.

The İşbank Pension Fund owns 37.3 percent stake in the lender, while the free float is 34.6 percent.