Turkey’s Vakıfbank to open a branch in Iraq’s Arbil
Turkish lender Vakıfbank is set to open a branch in the Iraqi city of Arbil by the end of the year.
Süleyman Kalkan, director-general of Vakıfbank, told reporters during a press conference Friday, “We applied to the central government of Iraq to open a Vakıfbank branch in Arbil. As we have already received prior approval, we are planning to open the Arbil branch by the end of the year.”
The bank is also planning to open a branch in Syria, Kalkan said.
The number of Vakıfbank branches is currently 602, Kalkan said, adding that with new branches scheduled to be opened this figure will total 620.
Responding to a question regarding the bank’s new recruitment process, Kalkan said nearly 900 new staff will begin working at Vakıfbank in the next few weeks. Of this amount, 300 will operate in specialist and assistant specialist roles, with the remaining 600 operating as clerks.
The forthcoming increase in the number of branches means more staff are required, Kalkan said. Accordingly, the bank will start a new examination process in September. “We will employ between 600 and 1,000 more people,” Kalkan said, adding that the bank currently employs around 10,500 people.
As of June 30 this year, the bank maintains a network of 602 domestic branches, and two international offices located in New York and Bahrain. Vakifbank posted a non-consolidated net profit of 539.7 million Turkish Liras in the first half of this year.
Source: Hurriyet Daily News
URL: www.hurriyetdailynews.com/n.php?n=turkey8217s-vakifbank-to-open-a-branch-in-iraq8217s-arbil-2010-08-20