Bank Audi’s Turkish subsidiary, ODEA Bank, announced its results for the year 2015. The Bank’s financial statements revealed a surge in its net profits from $121,000 in 2014 to $17.60M in 2015. This was mainly driven by the growth in net interests’ income and net fees and commissions’ income, which increased from $202.96M and $14.81M in 2014 to $341.74M and $34.51M in 2015, respectively.
On the balance sheet, total assets revealed a 25.21% yearly growth to $11.23B as loans and receivables increased by 21.07% to $7.63B. On the liabilities’ side, total deposits inched up 20.29% to $8.87B.
As for shareholders’ equity, it slightly increased by 0.74% to $471.50M, by the end of 2015.
Odea Bank’s Financial Results
Source: BSE News