Akbank supports the development of the economy through loans of 259 billion TL in the first nine months of 2019
Evaluating the financial performance of Akbank in the third quarter of 2019, CEO Hakan Binbaşgil stated, “We have been observing improvements in macroeconomic indicators. The decline in inflation, which is expected to continue in the coming period, will also contribute to this process and will have a positive impact on domestic demand. During this period, our banking sector continued to create capacity for the development of our economy with its robust structure, strong capital adequacy and liquidity. As Akbank, we achieved healthy results with our solid financials. Through our belief in the future of Turkey and our strong capital, we will continue to support our country.”
“We provided loans of 259 billion TL to the economy in the first quarter of 2019”
Binbasgil continued, “In this period, the loan support we provided to the economy increased to a total of TL 259 billion, with TL 214 billion in cash loans. Our deposits reached TL 236 billion, while our assets reached the level of TL 379 billion. With our very strong capital adequacy ratio of 19.5, we continued to support the growth and development of the real sector consistently. Our bank reported a net profit of TL 4 billion 28 million, after TL 1 billion 182 million tax provisions”
“Akbank once again sets the pricing in the syndicated loan market”
Stating that Akbank has successfully concluded a syndicated loan facility in October, Binbaşgil continued, “Akbank has successfully concluded a syndicated loan facility in October. The syndicated loan, which we launched with a target of USD 700 million, received a demand of around 143 percent of the target, exceeding USD 1 billion. Akbank increased the size of the facility to provide USD 810 million of resources to Turkey’s economy. We have improved the pricing compared to our September 2018 syndication deal and once again we set the pricing in the market. Although we lowered the pricing, we were able to attract overwhelming global response from international banks. Positive developments regarding the oversubscription, pricing and number of participants indicate global market’s confidence in the potential of Akbank and Turkish banking sector.”
“We believe in the potential of our country”
Binbaşgil said, “Akbank will continue to create value through the innovations it brings to banking and its skilled team. We continue to make significant investments in our technological infrastructure and Akbank employees with our comprehensive transformation program, which we call the Next Generation Akbank. We believe in the potential of our country and we are preparing for the future of banking. With the renewed Akbank Mobile, we began to offer our customers a brand new mobile banking experience. We will continue to facilitate the financial life of our customers with our important and innovative projects in the future. I would like to thank Akbankers for their efforts and high performance, and our customers and shareholders for their confidence in Akbank.”