Akbank continues to provide consistent financing to the economy
Evaluating the financial performance of Akbank in the first quarter of 2021, CEO Hakan Binbaşgil said, “We continue to go through a period in which the pandemic is front of the agenda both in the world and in Turkey with developments regarding health driving the economic developments. In face of this important test, the Turkish banking sector continues to perform well. Through their advanced digital and technological infrastructures, banks that have quickly adapted to the new environment, continue all their activities and maintain the functioning of the financial system. As Akbank, we continue to provide uninterrupted service thanks to the extensive investments we have made in both our employees and our technological infrastructure over many years. In this challenging period, we continue to make important innovations without compromising from our vision for the future of banking.”
“We provided loans of TL 359 billion to the economy in the first quarter of 2021”
Binbaşgil continued, “The loan support we provided to the economy increased to a total of TL 359 billion with TL 299 billion in cash loans. Our deposits reached TL 310 billion, while our assets reached TL 517 billion. With our strong capital adequacy ratio of 20%, we continued to support the growth and development of the real sector consistently. Akbank reported a net profit of TL 2 billion 28 million, after TL 529 million tax provisions.
“We are proud to sign a syndication transaction that underpins the trust in the Turkish Banking System”
Regarding Akbank’s successful syndication transaction, which includes sustainability criteria, Akbank CEO Hakan Binbaşgil noted, “Our loan received a record demand of US $792 million, which is 126% of our total renewal amount. Following this strong oversubscription, we have renewed our syndication above our initial target, over US $675 million. Thus, our roll-over ratio became 107%. In such a challenging environment, Akbank successfully renewed its syndicated loan with the participation of 35 banks from 18 countries while keeping our costs at the same level as our October 2020 transaction. 8 new banks from the US, Europe, Middle East and Asia, which were not involved in last year’s transaction, participated in this transaction. With our transaction, which represents a reference point for our sector, we have paved the way for Turkish banks’ further syndications. We believe that our transaction is a positive example for all our stakeholders with its focus on sustainability. In line with our sustainability strategy, we will look to continue to lead our sector.”
“We share our knowledge and experiences with young people”
Underlining that it is the Akbank people who make transformation possible, Binbaşgil said, “We believe in the importance of preparing our colleagues for the future with new competencies and skills. As an institution, which has recognised the importance of this, we are very pleased to be able to make ‘continuous learning’ and ‘development’ parts of our corporate culture. As our colleagues prepare for the future with personalized programs, they find the opportunity to develop themselves in many fields from social competencies such as flexibility, agility, and resilience to skills such as design, analytics and cybersecurity. As an institution, which has embraced those values in its culture, we now share our knowledge and experiences with young people. With the Akbank Youth Academy, we aim to prepare young people for the skills needed for the future and the evolving business world. In our first year, we aim to reach 15,000 university students”
“With our activities, we are proud to help increase awareness in diversity and inclusion”
“We see sustainability as an important part of our business strategy and approach all our activities in line with these priorities. Our diversity and inclusion activities are an important part of this approach. We see diversity as an opportunity to reveal the human potential of our country and inclusiveness; as a richness that gathers creative thoughts and inspiring people together. We are delighted to help drive increased awareness in this field with our practices and approach. In the 2021 OMFIF Gender Balance Index, we were named the best bank in emerging markets, while we also took part in the Bloomberg Gender Equality Index, one of the most comprehensive worldwide surveys to measure the performance of companies committed to gender equality. Moreover, we became the first Turkish bank and company to join The Valuable 500, which was established to support the participation of people with disabilities in business and raise awareness about the value they create. I would like to congratulate all our stakeholders once again, especially our colleagues who have played a part in our successes and extend my deep gratitude”