ISTANBUL, March 29 (Xinhua) -- The Turkish branch of the Industrial and Commercial Bank of China (ICBC) recorded a total book asset of 15.8 billion Turkish liras in 2018, with a book net profit of 83.55 million liras, up 73 percent year-on-year, show annual results released on Friday.
ICBC Turkey posted a 19-percent growth of total book asset over the past year, while the book pre-provision profit rose by 55 percent to 251 million liras, according to the figures.
ICBC is China's largest commercial bank as well as the world's largest bank by assets, and ICBC Turkey has been licensed for commercial banking, investment banking and asset management after it was established on the purchase of a majority of shares of Turkey's Tekstilbank in May 2015.
ICBC Turkey prioritizes "good financial services" for local real economy, the Belt and Road Initiative and Chinese enterprises going global.
In 2018, the bank won such local awards as the "International Bank of the Year" and "Best Project Financing for the Year," as well as honors from ICBC Group such as "Excellent Overseas Institution (for Transformation Development)."
By the end of 2018, ICBC Turkey had established business relations with 70 of the top 100 local companies and had 35 loan customers, opened accounts for over 100 Chinese-funded enterprises and served 208,000 individual customers. Its credit loans to customers with a high-credit rating had accounted for 33 percent and those to major customers reached 75 percent, while the contribution of assets and businesses from major customers had reached 78%.
Meanwhile, ICBC Turkey completed the first PPP bond financing on the Turkish market and launched RMB-TRY futures business as a market maker, which gained a monthly trading volume of 116 million RMB yuan.
