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Akbank outlines reasons for success

Akbank outlines reasons for success

Turkish banks have posted record profits for fiscal 2009 ahead of analyst forecasts. Akbank, the country’s second-largest lender by assets, posted a 53 percent rise in full-year net profits and according to deputy CEO Hakan Binbasgil, is well placed to target further growth in 2010. Douglas Blakey reports.


Latest Headlines

  • (Free) Nationalised UK lender Northern Rock narrowed its losses to £257.4 million ($383 million) in fiscal 2009 from a deficit of £1.36 billion the previous year, despite a 23 percent increase in loan impairments to £1.1 billion.
  • (Free) Emporiki has opened three new branches as part its roll-out of the re-branding of the retail network.
  • (Free) Bank of America (BoA), America’s largest bank by deposits, will scrap overdraft charges on debit card purchases from the third quarter, ahead of the Federal Reserve’s new rules that prevent banks from automatically enrolling customers in overdraft programmes.
  • (Free) Australia’s Westpac, the country’s largest banking group by branches, will reopen a retail branch in London by the end of 2011 to tap into the expatriate banking segment.
  • (Free) Metro Bank has been given the go-ahead to enter the UK retail banking market after the Financial Services Authority (FSA) officially approved it for a banking licence.
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Latest Features

HSBC advances on the mid-market

HSBC has begun one of the year’s biggest product roll-outs and bank marketing campaigns, HSBC Advance, to promote the launch of a new all-in-one account targeted at the mid-market segment. As Farah Halime reports, HSBC is banking on the Advance product repeating the success of its successful Premier account.

Kazkom targets deposit growth in 2010

While Kazakhstan has not escaped unscathed from the global economic crisis, the country’s biggest bank by assets, Kazkommertsbank, is upbeat about its prospects. The bank’s managing director, Andrey Timchenko, tells Farah Halime an increased focus on boosting retail deposits will position the bank for further growth.

Switching promo boosts First Direct

While many retail banks’ marketing efforts are concentrated on keeping customers who have lost faith in the market, the UK’s First Direct is finding customers flocking to it from its bailed-out rivals. Paul Say, head of marketing at First Direct, tells Farah Halime how it is reaping the rewards