Akbank supports the economy through loans of 270 billion TL in the first six months of 2019
Evaluating the financial performance of Akbank in the second quarter of 2019, CEO Hakan Binbaşgil stated, “We are going through a time of increased importance of global geopolitical and economic developments. Our banking sector has continued to bolster the economy during this period. Akbank continued to support the development of our economy with its trust-based approach to banking and strong capital while retaining its asset quality. We expect the decreasing trend in inflation and the improvement in the interest rate environment to have positive effects on the economy and the credit demand to increase in the future. Our banking sector will continue to contribute strongly to the growth of our country.”
“We provided loans of 270 billion TL to the economy in the first quarter of 2019”
Binbasgil continued, “In this period, the support we provided to the economy increased to a total of TL 270 billion, with TL 222 billion in cash loans. Our deposits increased by 10% in the first six months of 2019 to TL 230 billion, while our assets reached the level of TL 376 billion. With our strong capital adequacy ratio of 17.7, we continued to consistently support the growth and development of the real sector. Our SME, commercial and corporate loans reached TL 228 billion in this period. Our bank reported a net profit of TL 2 billion 667 million, after TL 789 million tax provisions. Akbank’s total provisions for this period remain at 101% of our non-performing loans. We continued to sustain our asset quality in this period; our NPL ratio has remained at 4.5%.”
“Akbank continues to do its part in sustaining the success of our economy in exports.”
Underlining the special role export incentives play in the efforts to boost the Turkish economy, Binbaşgil continued, “Within the capacity of the support we provide to bolster the sustainable growth of the economy, we presented a new support package for our exporters this year. With our expertise and experience in the field of trade finance, as well as our technological infrastructure and quality-based approach to services, we continued to support the exporters of Turkey in international markets. Over 2000 trade firms benefitted from this package, both new and existing customers. This year, we procured our exporters loans of USD 2.3 billion through our bank's export loans, and continued to support them through letters addressed to Eximbank. Moreover, we provided nearly TL 400 million KGF-supported SME Value Loans to hundreds of exports customers. In addition to the facilities we provide to our existing exports customers, we also supported more than 1500 exporters in the first 6 months of the year. Akbank is doing its part in sustaining the success of our economy in this field.”
“Akbank is now a global brand that exceeds its own limits, and Akbankers’ contribution to this success is major”
Stating that they are very happy to receive the “World’s Best Digital Bank” award from Euromoney, Hakan Binbaşgil continued, “In addition to our strong financials, factors such as our technology investments, our vision of the next generation banking practices and our investments in the banking of the future contributed to receiving this award. This is the first time Euromoney gives “World’s Best Digital Bank” award to a bank from an emerging market. I find this very important and we are very proud about this achievement. The banking sector in Turkey is in a very good place in terms of digitalization and the use of technology, compared to many developed economies. As Akbank, we have never compromised our long-term, visionary perspective. We continue to work and invest in these fields to bring new approaches to our sector and to improve our service quality with new technologies. Akbank is now a global brand that exceeds its own borders, and Akbankers’ contribution to this success is major. I would like to thank our customers, shareholders and employees for this stable and strong performance.”