Turkish broker with 2,400% stock surge reports huge profit jump

Turkish brokerage Tera Yatirim Menkul Degerler AS, which has seen its share-price surge over the past year, reported a nearly 70-fold jump in profit for 2025.

The Istanbul-based brokerage reported net income of 37.4 billion liras ($856 million) for the year, up from 531.7 million liras in 2024, according to an exchange filing late Friday. Revenue rose more than 50 times, to 414 billion liras.

Tera provides equity trading, derivatives and investment banking services, and manages mutual funds. The shares have gained almost 2,400% over the past 12 months, giving it a market capitalization of about 157 billion liras.

In November, the company appointed one of President Recep Tayyip Erdogan’s advisers to its board. Fecir Alptekin, a former media executive and journalist, quit that position less than three months after being appointed, according to an exchange filing in January.

An open-end fund managed by Tera also posted gains of more than 2,000% last year, making it the top performer in the country, according to data from Turkey’s official fund database.