IslamicFinance.de

According to Moody's Investors Service, Turkey's Islamic banking assets are expected to double in the following 10 years as a result of government initiatives and new regulation that push the sector's expansion. With just over 5.8% of banking assets at the end of September, Turkey's Islamic finance sector is currently smaller than other large Muslim countries. Evolving regulation and supervision, as well as plans to equalise tax treatment for equivalent financial activities of commercial and Islamic finance institutions are expected to boost the sector. Turkey established three new state-owned Islamic banks from 2015 to 2019. Furthermore, the state-funded $2.6 billion (2.36 billion euro) International Financial Centre in Istanbul (IIFC) is scheduled to open in 2023.

Bosna Bank International's net profit increased to 6.4 million marka ($3.5 million/3.3 million euro) last year from 5.6 million marka in 2015. Net interest income grew 22.5% year-on-year to 22.3 million marka in 2016, while net fee and commission income rose to 10.9 million marka from 9.6 million marka. The bank's total assets stood at 895.4 million marka at the end of 2016.

Bosna Bank International announced its first-half net profit jumped to 3.2 million marka ($1.8 million/1.6 million euro) from 1.4 million marka in the same period last year. The lender's net interest income increased 31.5% to 10.9 million marka through June, while net fee and commission income rose 12.9% to 5.1 million marka. The bank's total assets stood at 768.7 million marka at the end of June.