Turkey's bank Albaraka will improve its bottom line by 38.7% in 3Q11-Erste
It is anticipated that the bank will improve its bottom line by 38.7% in 3Q11 to TRY 42mn. It is also expacted a 5% quarterly growth in total loans.
On the other side, the bank raised USD 100mn Murabaha syndication in the quarter, and an additional US$ 150mn in wakala from the Gulf region.
A slowdown for Albaraka Turk in 3Q11 in terms of NPL additions which should also contribute positively to provisioning expenses is also forseen.
Syndicate
