The asset size of the bank increased by 28% compared to the end of the year and by 115.6% compared to the same period of the previous year, and reached ₺128.4 billion.
Emlak Participation’s net profit in the first half of the year reached ₺3.01 billion and its asset size reached ₺128.4 billion.
According to the statement made by Emlak Participation regarding the financial results for the first six months, the bank’s net profit in the first half of 2023 was ₺3.01 billion, as it continued to grow steadily by advancing in line with its targets, as well as bringing unique products to the sector.
In the first half of 2023, the asset size of the bank increased by 28% compared to the end of the year and by 115.6% compared to the same period of the previous year, reaching ₺128.4 billion.
Realized as ₺52.6 billion in cash financing volume with an increase of 18.9% compared to the end of June, and ₺14.1 billion in non-cash financing volume with an increase of 35% as of the end of June, Emlak Participation contributed ₺66.8 billion to the country’s economy. The collected funds of the bank increased by ₺20.7 billion compared to the end of the year to ₺99.9 billion in the first half, while the equity size increased by 44% in the same period to ₺8.6 billion and the capital adequacy ratio was 29.7. The number of branches of the bank, which reached 1,386 as of the second quarter, increased to 97.
Emlak Participation launched products and services that are the first in Turkiye
Emlak Participation continues to bring leading solutions such as ‘Project Preferred Private Fund Pool’, ‘Winning Quarter Account’, ‘Sukuk Issuance with Income Reference to Participation Pool’, ‘Partnership and Risk Sharing Based Sukuk Issuance’, ‘Green Sukuk Issuance’, ‘Green Sukuk Issuance Based on the Contract of Works’ and ‘Participation Based Portfolio Custody’, which are implemented for the first time in Turkiye, to the sector.
Having outperformed its target in the first half of the year, the bank continues to expand its services by making a difference with the new products it has introduced to the sector since its inception. Emlak Participation aims to continue to diversify its innovative products and services, to expand its service network together with its customer base, to contribute to the economy and employment without slowing down, by using its digital channels more effectively, in line with its mission, in the coming periods.
Source: AA / Prepared by Irem Yildiz