Finansbank’s latest strategy reaps rewards

ISTANBUL - Hürriyet Daily News

Finansbank posted 429 million Turkish Liras in net profits for the first half of 2012, says GM Güzeloğlu. AA photo

Turkey’s Finansbank posted 429 million Turkish Liras in net profits for the first half of 2012. The bank’s total loans were also up 8 percent in the first six months, to 33.3 million liras.

The bank’s success can be attributed to a new strategy it implemented last year based on five pillars, Finansbank General Manager Temel Güzeloğlu said in an announcement following the results release. The bank is committed to listening to its customers and understanding their concerns, providing them with the most appropriate services and products, providing 100 percent transparency for these products and services, providing quick solutions to problems, and being on the customer’s side on both good and bad days, Güzeloğlu said.

“The results we announced today prove that Finansbank has internalized this new banking model, and more importantly that its customers have rewarded Finansbank for it,” said Güzeloğlu.

Net profits up 8 pct

Finansbank, which had posted net profits of 206 million Turkish Liras in net profits in the first quarter of 2012, increased its net profits by 8 percent in the second quarter to 223 million liras. Finansbank currently has 522 branches in Turkey and employs over 11,000 employees.