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Akbank supports Turkish economy through 322 billion TL in loans in the first nine months of 2020 

With its strong balance sheet and resources provided Akbank continues to support the economy.

Evaluating the financial performance of Akbank in the first nine months of 2020, CEO Hakan Binbaşgil stated, “Due to the pandemic, we are going through an extraordinary period. Following the many measures taken regarding our economy, recent normalization steps suggest a rapid recovery and growth process ahead. With its determined stance, Turkish banking sector continues to support the sustainable growth of our country. Akbank will also continue to support our country, society and its customers in this challenging period, with its solid financials, strong technological infrastructure and highly skilled employees”

“We provided loans of TL 322 billion to the economy in the first nine months of 2020”
Binbaşgil continued, “The loan support we provided to the economy increased to a total of TL 322 billion in the first nine months of 2020, with TL 276 billion in cash loans. Our deposits reached TL 294 billion, while our assets reached TL 486 billion. In the first nine months of 2020, Akbank reported a net profit of TL 4 billion 409 million, after TL 1 billion 498 million tax provisions. With TL 500 million free provisions reserved this year, our total free provisions reached TL 1 billion 150 million”

“As the bank that reopened the syndicated loan market, we have also been a reference for the Turkish banking sector
Regarding Akbank’s recent successful syndication transaction, Akbank CEO Hakan Binbaşgil noted, “With this transaction, which is a reference for the Turkish banking sector’s syndications in the second half of the year, we have acted as the leading bank that has reopened the syndicated loan market. With the participation of 36 banks from 19 countries, we have completed a syndicated loan of c. US $800 million. 9 new banks from US, Europe, Middle East and Asia, which were not involved in last year’s transaction, participated in this transaction. Following the new participations, the roll-over ratio rose to 95%. The interest in our syndication renewal is a concrete sign of confidence in Akbank and Turkey’s banking sector even in this challenging period”

‘‘We are taking important steps on sustainability”
Mentioning that Akbank is taking important steps on sustainability, Binbaşgil stated, “Following the global pandemic, Akbank also issued the first Green Bond in the Turkish banking sector which amounts to USD 50 million with a 4 year 110 days maturity. This financing will also support our country’s transition to a low carbon economy”

“We have been making important investments in technology and innovation for years”
Underlining that technological developments and digitalization trend are changing consumer behaviour faster than ever, Binbaşgil said, “With our ‘future of banking’ vision, we have been making important investments in technology and innovation for years. The challenges of the current period demonstrated the importance of these investments. Thanks to our robust digital infrastructure, despite the decreasing customer traffic in our branches due to the pandemic, we are experiencing an increase in the total number of transactions. The number of financial transactions made on Akbank Mobile increased by 62%”

“We continue to bring innovations to our sector”
Binbaşgil continued, “In this period, marked by rapid digitalization, as our customers have become more interested in digital solutions, we have been the first bank in Turkey to implement a ‘Digital First’ program in credit cards. Accordingly, upon the approval of their applications, our customers can view their card information on Axess Mobile and Akbank Mobile and use their cards instantly. With our new card design, we offer simple and innovative experience to our customers via Turkey’s first numberless credit cards. The importance we have attached to innovation, our significant technological investments and our efforts in digitalization have greatly contributed to our achievements in the pandemic period. As a global brand that goes beyond Turkey’s borders, we will continue to invest in the future of our country.”

“We are proud to be the first Turkish bank to be named as ‘Best Bank in the Emerging Markets’”
Mentioning Akbank’s newest international success Binbaşgil said, “We are proud to be named as the best bank of a geography which represents over 160 countries and about 85% of the world population by one of the world’s leading financial publishing groups. Being the first Turkish bank to be named as “Best Bank in the Emerging Markets”, we are delighted to bring this award to Turkey and to its banking sector. We have raised the bar with this important achievement and it puts a huge responsibility on us. We will continue to work to supporting the sustainable growth of the Turkish economy and strengthen our country. I would like to thank all our stakeholders, especially our employees, who have contributed greatly to our success.”

 
 
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