Istanbul-based participation Kuveyt Turk bank announced net profits of USD 85 million for the first quarter of 2016, an increase of 24.4%, compared with the same period of 2015. 
The CEO of the bank Ufuk Uyan said in a statement that the bank's total assets reached USD 15 billion, up 4.9% since the end of 2015, meanwhile shareholder equity reached USD 1.24 billion, an increase of 8%, according to Kuwait's News Agency (KUNA). 
He added that it opened 30 new branches in different cities in Turkey during this year. 
The bank ranked first among participation banks in the country, he said, noting that the bank, which is a subsidiary of Kuwait Finance House, has 5,363 employees in 376 branches.