Finansbank, National Bank’s Turkish subsidiary, announced on
Wednesday that its net profit in 2010 recorded a rise of 10%, amounting to TL 913mn (EUR 409mn). Total income amounted to TL 2,815mn, up 6%, while net interest margin stands at 6.5%.
Decreased provisions were TL 273mn, reflecting improving macro conditions, down 45% on year. Nonperforming loan provision coverage ratio stands at 67% and cost of risk at 109bps.
Return on equity was at 17%, while the consolidated Core Tier I ratio stands at 13.8% and total CAR at 17.3%.
Gross customer loans and customer deposits rose by 33% and 26% respectively.
source: CAPITAL
