Serving its customers for 35 years with its innovative products and services developed in line with the principles of participation finance, Kuveyt Türk announced its financial results for the first half of 2024. Kuveyt Türk's collected fund size increased to 513 billion TL, while its allocated fund size rose to 398 billion TL. Kuveyt Türk's net profit increased by 54 per cent compared to the same period of the previous year and reached 15 billion TL. Having increased its shareholders' equity to 57 billion TL and its asset size to 761 billion TL, Kuveyt Türk maintained its 10th place in the banking sector in terms of asset size and strengthened its first place among participation finance institutions.
"We are the solution partner of our customers"
Expressing his views on the first half financial results of 2024, Ufuk Uyan, General Manager of Kuveyt Türk, said: "We are moving forward with our vision of becoming the solution partner preferred by customers, and we continue to develop innovative solutions by maintaining our customer-oriented approach. In line with our 2026 strategy, we are focusing on our digitalization investments on the one hand, while investing in our human resources and developing solutions for the needs of our customers on the other. Our efforts here are also reflected in our financial results. Our achievements in the first half of 2024 consolidate our position in the sector. As Kuveyt Türk Finance Group, we will continue to offer a wide range of solutions to our customers, to be a pioneer in the sector and to break new ground."
2024 Kuveyt Türk with second quarter figures
- In the second quarter of 2024, the growth in funds disbursed was 19 per cent.
- With a focus on high asset quality, the non-performing loans ratio stood at 1.27 per cent.
- As of the first half of 2024, the volume of funds collected reached 513 billion TL.
- The share of current account in funds collected rose to 53 per cent.
- Annualized average return on equity was 59 per cent.
- The capital adequacy ratio, whose legal limit is 12 per cent, reached 20 per cent.