DAVOS-Akbank sees loan growth at least 20 pct

DAVOS, Switzerland, Jan 27 (BestGrowthStock) – Akbank (AKBNK.IS: ),
Turkey’s second-largest bank by market capitalisation, said on
Wednesday it expected loan growth of at least 20 percent this
year, with deposits also set to soar.

“Our loan growth not will be less than 20 percent this year.
Our aim is to make it more,” Chief Executive Ziya Akkurt told
Reuters Insider in the Swiss resort of Davos.

“On the deposit side we are expecting not less than 16
percent.”

Last month, Akkurt said he expected Akbank to register
higher loan growth than the industry projection of 10 to 15
percent in 2010.

He also told Reuters on the sidelines of the World Economic
Forum that the bank expected its performance in 2010 to be more
or less the same as it was in 2009.

Turkey’s banking sector has proved resilient during the
global downturn, benefiting from regulations in place since a
2001 domestic financial crisis and a lack of exposure to toxic
or exotic assets.

Akbank, in which Citigroup (C.N: ) owns a 20 percent stake, is
controlled by Istanbul-based Sabanci Holding (SAHOL.IS: ).

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(Reporting by Davos team, editing by Mike Peacock)

DAVOS-Akbank sees loan growth at least 20 pct