UPDATE 1-Turkish Akbank 2007 profit jumps, upbeat on 2008

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ISTANBUL, Feb 15 (Reuters) - Turkey's Akbank AKBNK.IS on Friday posted 2007 net profit of 2.041 billion lira ($1.7 billion), up 29 percent, and said it was "very confident" about the outlook for 2008.

Akbank, the largest Turkish bank by market capitalisation, said growth in the overall loan portfolio amounted to 32 percent while consumer loan volumes grew 43 percent from a year earlier.

Total assets amounted to 72.103 billion lira at end-2007, it said. According to stock market data, at end-2006, total assets amounted to 57.3 billion. Full results were not yet available.

"We have continued to see strong growth in all key areas of our business, while at the same time managing the business prudently through the economic uncertainty of the second half of the year," said Akbank Chief Executive Officer Zafer Kurtul in a statement.

"In what was at times a difficult market we have produced growth in net profits of 29 percent which is an excellent result," he said in a statement.

Gross profit rose 30 percent to 2.525 billion lira.

"We are very confident about the outlook for 2008," he added.

Akbank is owned by conglomerate Sabanci Holding SAHOL.IS and Citigroup (C.N: Quote, Profile, Research).