March 9, 2022

Press Release

Albaraka Türk's 2021 net consolidated profit for the period has reached to TRY

942,5 Million

The pioneer of participation banking in Turkey, Albaraka Türk's net consolidated group profit figure for 2021 has been announced as TRY 942.5 Million, increasing by 203 percent compared to the same period of 2020.

Albaraka Türk, one of Turkey's leading participation banks, has announced its consolidated profit figures for the period by notifying the Public Disclosure Platform. According to the statement, Albaraka Türk has reached a profit of TRY 942.5 million with an increase of 203 percent in its 2021 net consolidated group profit. In the previous period, the Bank announced TRY 311.1 million net consolidated group profit.

Albaraka Türk, which increased its total assets by 58 percent in 2021, increased its assets to TRY 110 billion. Increasing the amount of funds collected to TRY 91.2 billion, the Bank achieved a 77 percent growth under this topic as well. Total shareholders' equity increased by 54 percent from TRY 4.3 billion to TRY 6.7 billion.

According to the statement made by the Bank, as of the end of 2021, the total loan size reached TRY 59.3 billion, while this amount had been TRY 42 billion in the same period of 2020.

Speaking about the net consolidated profit for the period, Albaraka Türk Deputy General Manager and Board Member Malek Khodr Temsah said: "We presented our 2021 net consolidated group profit figures to the Public Disclosure Platform today. As Albaraka Türk, we completed this productive year with a profit rate of 203 percent. With this ratio, we achieved a net consolidated profit of TRY 942.5 million. We achieved significant figures not only in our consolidated profit rates, but also in our assets, funds collected, funds extended and equity. In 2021, we reached TRY 110 billion in total assets and TRY 91.2 billion in our funds collected. Our total shareholders' equity increased by 54 percent from TRY 4.3 billion, which had been the previous period, to TRY 6.7 billion. After spending the previous year in the shadow of the pandemic, we see that 2021 was an important year of growth for Albaraka Türk."

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Albaraka Türk Katilim Bankasi AS published this content on 09 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2022 19:38:18 UTC.