Dear Esteemed Stakeholders,
With the impact of scientific developments, 2021 has been a year in which issues regarding the future of humanity have come to the fore, both in the world and our country. While trying to overcome the pandemic and the problems it caused, significant progress has been made to design the a green and inclusive economic recovery process.
As Akbank, one of the well-established institutions in our country, we have taken bold steps in the face of this comprehensive change the world is going through. We have updated our sustainability approach in line with the development journey of Turkey and the evolving needs of our society, our environment and our stakeholders. With our sustainability strategy which consists of concrete targets, we have confirmed our commitment to our vision of being the bank that will carry Turkey into the future.
With the strength of our sound balance sheet, we made efforts to bolster our sustainable finance efforts. As a bank that puts people at the center, we have paid attention to benefiting our society at every step. We made sure that Akbank's future is shaped not only with banking but also with entrepreneurship, culture and arts, education, and volunteering. We strive to be everyone's bank with our strong technological and digital infrastructure, and increased our contribution to financial inclusion with our innovative products and services. We turned dreams into reality with our initiatives for women entrepreneurs and start-ups. In order to fulfill our duty in the fight against climate change, we have taken important steps to reduce the negative impact of our operations and loan portfolio.
In the light of our sustainability priorities, we worked together with our wide range of stakeholders, including participants from our bank's business units, our customers, employees as well as investors, to create the banking of the future. We contributed international cooperation on this front by taking responsibility for problems that will affect the future of the entire humanity. As a member of the United Nations Environment Program Finance Initiative (UNEP FI), we signed the Principles for Responsible Banking and became the founding signatory of the UNEP FI Financial Health and Inclusion Commitment. We also announced our support for the Task Force on Climate-related Financial Disclosures (TCFD). As Akbank, we became the first signatory from our country for The Valuable 500, which was established to support the participation of disabled people in working life.
As a result of all these efforts, we have happily observed that our contributions to these pressing matters have been recognized by international research and evaluations. We were listed in the Bloomberg Gender Equality Index (GEI), one of the most comprehensive surveys conducted worldwide to measure the performance of companies committed to gender equality. In the gender equality survey conducted by OMFIF, we were among the top 5 banks at the global level, while we were the top bank in emerging markets. We have made significant progress with our sustainability strategy and have been listed in the “Low Risk” category in the Sustainalytics ESG assessment. Our MSCI ESG rating, on the other hand, received a double upgrade to BBB.
Another factor that we consider important in our attempt to move our country forward is social development. In this regard, the projects we have been carrying on with determination for years on arts and culture, entrepreneurship, education and volunteering are of great importance for us.
In 2021, we celebrated the 28th anniversary of Akbank Sanat, which successfully implemented important projects in the field of arts and culture in Turkey. We continued to meet with art lovers both online and physically, on various platforms ranging from exhibitions to movies and from interviews to workshops. While continuing to meet with jazz lovers in the 31st year of Akbank Jazz Festival, we once again became the meeting point of moviegoers with the 17th Akbank Short Film Festival. We took part in Contemporary Istanbul, of which we have been a supporter for 16 years, with our exhibitions “The Actual and Transcendence” at Lütfi Kırdar and “A Space Hidden to Itself” at Tersane İstanbul this year.
In the field of education, we continued our activities with trainings on various subjects with distinguished participants within the Center of Excellence in Finance - CEF, for which we are the founding sponsor. With the Akbank Youth Academy, one of our newest social initiatives, we organized programs to prepare young people both for the competencies of the future and the business world. Within this context, we have reached tens of thousands of young people through many programs and collaborations such as E-Bursum, and AI Academy with Microsoft.
Our volunteering activities have also continued at full speed in 2021. We have developed many projects dealing with subjects ranging from health to education and we have produced solutions for those in need, thanks to the coordination between our Akbank Volunteers and the local communities, non-governmental organizations and local administrations. Our volunteering project “The Good State of the City”, which brings university students together with non-governmental organizations, again attracted great attention this year.
In 2021, the loan support we provided to the economy increased to a total of TL 485 billion, with TL 397 billion in cash loans. Our deposits reached TL 454 billion, while our assets reached TL 763 billion. With our strong capital adequacy ratio of 21,1%, we have one of the strongest capital structures in the sector. With the strength driven by our structure, we continued to support the development of the real sector with the loans provided to our companies. Akbank reported a consolidated net profit of TL 12 billion 127 million after provisioning TL 4 billion 513 million for taxes.
In addition to all these, we will continue to work in line with our goal of leaving a livable world to future generations, without compromising our long-term, visionary perspective. I would like to thank our customers and shareholders, who always carry us forward and encourage us to do the best, and all our employees who carry our bank from success to success.