Turkish lender Yapi Kredi increased its consolidated net income by 75.3% y/y to TRY 3.7bn (
The lender's consolidated net interest income rose 4% y/y to TRY 5.07bn in the year.
The significant increase in the lender's net income was a result of the one-time revenue of TRY 1.18bn the lender received from the sale of its insurance unit Yapi Kredi Sigorta. The lender's consolidated net income, excluding the TRY 1.18bn, also increased by 13% y/y to TRY 2.4bn.
Consolidated total assets of Yapi Kredi grew 22% y/y to TRY 160.3bn while its consolidated loans increased 28% y/y to TRY 100.6bn. The lender saw a 24.4% y/y increase in consolidated deposits which stood at TRY 88.5bn as of end-2013.
Yapi Kredi's consolidated net profit in Jan-Sep also has increased by 112% y/y to TRY 3.1bn from TRY 1.5bn a year ago.
The lender operates 949 branches, including one foreign branch, as of end-2013, up from 928 at end-2012, while employs 16,680 personnel as
On a separate filing with the Bourse Istanbul, the lender informed that it mandated its headquarters in order to issue up to
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