In its third year of operations, Odeabank Registered $7.14M Profit as at June 30, 2015
The unconsolidated financial statements of Odeabank, Bank Audi’s Turkish subsidiary, revealed that the bank registered a $7.14M profit as at the end of June 2015 compared to a loss of $10.86M as at the end of June 2014. In fact, over the same period, Odeabank’s net interest income grew from $78.37M to $151.80M.
As for the balance sheet, it revealed a growth in total assets by 13% year-to-date to $10.15B, an 11% year-to-date growth in loans and receivables to $6.99B and a 12% year-to-date growth in total deposits to $8.22B.
Odeabank’s Financials ($)
| 30/06/2015 | 31/12/2014 | %change. | |
| Loans and Receivables | 6,994,813,000 | 6,304,011,000 | 11% |
| Total Assets | 10,149,639,500 | 8,967,747,950 | 13% |
| Total Deposits | 8,222,417,350 | 7,371,364,000 | 12% |
| Shareholders’ Equity | 470,393,700 | 468,037,850 | 1% |
| Net Profit/loss | 7,135,800 | (10,855,950)(*) | – |
Source: Bank Audi (*): Figure relative to 30/06/2014 Conversion done according to 1 Turkish Lira = 0.35 USD
