Business

₺10 billion net profit from VakifBank in the first half of the year

VakifBank made a net profit of ₺10 billion 19 million by allocating ₺3 billion 629 million tax provision from its ₺13 billion 648 million gross profit in the first half of the year.

According to the statement made by VakifBank, the bank’s asset size increased by 76% in the first half of the year compared to the same period of the previous year, reaching ₺1.3 trillion.

Supporting the national economy by ₺965 billion through cash and non-cash loans, the bank made a net profit of ₺10 billion 19 million by allocating ₺3 billion 629 million of tax provision from its ₺13 billion 648 million gross profit in the first half of the year.

The Bank also set aside an additional ₺2 billion free provisions in the second quarter of the year, increasing its total free provisions to ₺4 billion.

Source: Trthaber / Translated by Irem Yildiz

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