According to the information compiled by the AA correspondent from the unconsolidated financial statements of the participation banks, the asset size of the 6 participation banks operating in the country was 812.1 billion TL as of the end of March.
Compared to the end of last year, the asset size of participation finance increased by 13.3 percent. The total assets of these participation banks in 2021 were at the level of TL 716.5 billion.
Kuveyt Türk retained its title as the participation bank with the largest assets in the sector, with TL 284.7 billion. Kuveyt Türk’s asset size increased by 12 percent in the 3-month period.
Ziraat Participation, the participation bank with the second highest asset in the sector, increased its assets by 23.7 percent to TL 121.6 billion in the said period. Ziraat Participation was followed by Türkiye Finans with 120.6 billion liras, Vakıf Katılım with 118.7 billion liras, Albaraka Türk with 117.9 billion liras and Emlak Participation with 48.8 billion liras.
Emlak Participation was the participation bank with the highest asset size increase in the first quarter, with 25.8 percent.
Fund support exceeded 435 billion liras
The support of participation financial institutions to the real economy continued in the new year. As of the end of March, the stock of funds provided by 6 participation financial institutions reached 435.7 billion liras.
As of the end of March, Kuveyt Türk became the participation bank with the highest fund support with 135 billion liras. Ziraat Participation ranks second with a fund stock of 76.2 billion liras, Türkiye Finans is third with 67.3 billion liras, Vakıf Katılım is fourth with 66.4 billion liras, Albaraka Türk is fifth with 64.6 billion liras, and Emlak Katılım is 26.2 billion liras. ranked sixth.
In the said period, the participation banks that increased the stock of funds they gave the most were Ziraat Participation with 30 percent, Kuveyt Türk with 21.1 percent and Emlak Participation with 20.7 percent.
38.7 percent of the total fund stock provided by participation financial institutions was owned by public participation banks and 61.3% by private participation banks.
The fund collected is 654.5 billion liras
Funds collected by participation banks reached 654.5 billion liras at the end of March. The funds collected by the sector increased by 15.6 percent compared to the end of 2021.
Kuveyt Türk maintained its first place with a fund size of TL 243.5 billion. The participation finance institution with the second highest fund in the sector was registered as Albaraka Türk with 98.9 billion liras. Ziraat Participation was in third place with TL 97.6 billion, Türkiye Finans with TL 92.5 billion, Vakıf Katılım with TL 86.1 billion and Emlak Participation with TL 36 billion.
3 participation banks exceeded 1 billion lira in profit
Participation financial institutions, which could not achieve the desired increases in their profits in the first quarter of last year due to the effect of the epidemic, saw triple-digit increases in profits in the first quarter of this year with the contribution of the base effect.
Kuveyt Türk achieved the highest profit in the first quarter with 1 billion 465 million liras. Kuveyt Türk increased its profit by 219 percent compared to the same quarter of the previous year.
Ziraat Participation increased its profit by 857.4 percent to 1 billion 194 million liras in the same period. Vakıf Katılım achieved the third highest profit of the sector with 1 billion 113 million liras.
While Türkiye Finans ranked fourth with a profit of 717 million liras, Emlak Katılım, the youngest member of the sector, came in fifth with 222.5 million liras, and Albaraka Türk came in sixth with 194.3 million liras.
Thus, Turkey’s participation finance institutions achieved a net profit of 4 billion 906 million liras in the first quarter and increased their profits by 413.3 percent compared to the first quarter of the previous year.