Akbank supports the economy by providing 269 billion TL in funding in 2019
Evaluating the financial performance of Akbank in 2019, CEO Hakan Binbasgil stated, “With the tendency to slowdown in economic activities on a global scale and increasing expectations for decreasing trend in inflation, we have seen a loosening trend in global monetary policies. In Turkish economy, recovery began especially in the second half of the year. Improving current account deficit, declining inflation in the second half of the year and supportive monetary policy enabled our economy and sector to be more optimistic about 2020. While protecting our strong balance sheet in 2019, we continued our investments for the future. With its strong capital structure, our bank further bolstered its shareholders’ equity with a capital increase of TL 3 billion in the beginning of 2019 and has positioned itself for healthy growth.
“We provided loans of TL 269 billion to the economy in 2019”
“Evaluating the financial performance of Akbank, Binbaşgil stated, “In 2019, the loan support we provided to the economy increased to a total of TL 269 billion, with TL 227 billion in cash loans. This year, our deposits increased by 17.3% to TL 245 billion, our assets increased to TL 387 billion. We have one of the strongest capital structures in the sector with our already robust capital adequacy ratio of 19.7%. With the strength driven by our structure, we continued our support for the growth and development of our companies that are the drivers of economy in 2019. SME loans and commercial and corporate cash and non-cash loans reached TL 223 billion. Akbank reported consolidated net profit of TL 5 billion 352 million after provisioning TL 1 billion 574 million for taxes. The nonperforming loan ratio came in at 6.55%.”
“We made significant investments, we are prepared for the future”
“In 2019, we made important advancements in technology and digitalization. We made significant investments, we are prepared for the future. We invested USD 200 million for our future, as we did in 2018. Akbank Data and Life Center, our largest one-off investment to date, commenced service. This center will play an important role in shaping the banking sector in Turkey. At the Euromoney awards, we were selected “World’s Best Digital Bank”. Our innovations in the sector, our strong capital, technology infrastructure, and our employees who are amongst the highly qualified bankers in Turkey, were the most significant contributors to our success. With the renewed Akbank Mobile, we began to offer our customers a simple and practical brand new mobile banking experience. We put in a great effort while designing Akbank Mobile, which was launched a few months ago. I believe we differentiated ourselves in the sector. In 2019, we also launched the ‘Tosla’ application developed by our subsidiary Aköde, which is the first fintech founded by a bank as its subsidiary in Turkey.”
“All our initiatives will have very positive reflections on customer satisfaction and financial results”
Akbank CEO Hakan Binbaşgil concluded, “We will continue our work to respond to the changing needs of our customers. I believe all our initiatives will have very positive reflections on customer satisfaction and financial results. I would like to extend my deep gratitude to our employees for their strong performance, to our shareholders for the trust they place in us, and all other stakeholders.