The lender also saw a 17% y/y rise in its net interest income to TRY 4.8bn last year from TRY 4.1bn in 2012.
Vakifbank's unconsolidated net profit rose by 15% y/y to TRY 1.2bn in January-September from TRY 1bn a year ago.
Unconsolidated total assets of the lender increased by 29.6% y/y to TRY 135.5bn at end-2013 from TRY 104.6bn at the end of 2012 while its unconsolidated loans grew 27.3% y/y to TRY 86.8bn at end-2013.
Vakifbank also reported a 21.3% y/y increase in unconsolidated deposits to TRY 81.5bn at end-2013 from TRY 67.2bn at end-2012.
The lender increased the number of its branches to 859, including three foreign branches, at end-2013 from 744, including three foreign branches, at end-2012 while the number employees rose to 14,943 from 13,463.
Turkish government controls a 58% stake in Vakifbank.
In September last year, Deputy PM Ali Babacan said Vakifbank, along with other state-run lenders Ziraat and Halkbank would accelerate efforts in 2014 to establish their own participation banks (Islamic lenders).
Vakifbank (unconsolidated) Financials
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- FDIC Sues Big Banks Over Rate Manipulation
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Stocks Close Lower Ahead of Crimea Vote
- Vybz Kartel Convicted of Murder
- U.S. Consumer Sentiment Falls in Early March
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Ulta Shares Look Good on Strong Q4
- FDIC Accuses Big Banks of Fraud, Conspiracy