Turkey: DenizBank 9-month profit up 28 pct
Sberbank's Turkish unit’s net profit climbed to 1.416 billion Turkish liras ($370 billion) in first nine months of 2017
By Bahattin Gonultas
ANKARA (AA) - Sberbank's Turkish unit DenizBank said on Friday its net profit surged 28 percent year-on-year to 1.416 billion Turkish liras ($370 billion) in the first nine months of the 2017.
DenizBank, which is owned by Sberbank -- Russia’s biggest by assets -- said its assets reached 152 billion Turkish liras (about $40 billion) during this period, up 24 percent from the end of last year.
The bank said its total loans climbed 24 percent from the end of last year to 138 billion Turkish liras ($36 billion).
Sberbank bought its Turkish unit in 2012 for around $3.5 billion -- the Russian bank’s largest overseas acquisition to date.
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