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Akbank supports Turkish economy through 373 billion TL in loans in the first half of 2021 

Akbank continues to support the development of the Turkish economy with its strong capital

Evaluating the financial performance of Akbank in the second quarter of 2021, CEO Hakan Binbaşgil stated, “The ongoing successful vaccination campaigns in many parts of the world, including Turkey, raises our hope that the impact of the pandemic, against which we have been fighting for over a year, will diminish. In this context, the revived economic activity we are seeing signals the potential for a rapid global recovery. The Turkish banking sector, which plays an important role in the pandemic response, will support the sustainable growth of our country in this new period, as it always has. Believing in Turkey’s future, Akbank will continue to provide resources for the economy and the real sector.”

“We provided loans of 373 billion TL in the first half of 2021”
Binbaşgil continued, “In the first half of 2021, the loan support we provided to the economy increased to a total of TL 373 billion, with TL 307 billion in cash loans. Our deposits reached TL 327 billion, while our assets reached TL 538 billion. With our strong capital adequacy ratio of 20,9%, we continued to consistently support the growth and development of the real sector. Akbank reported a net profit of TL 4 billion 134 million, after TL 1 billion 466 million tax provisions.”

“We will use the funds obtained to support our country’s transition to a low-carbon economy”
Highlighting that Akbank became first deposit bank in Turkey to issue sustainable subordinated debt, Binbaşgil said, “Our US $500 million subordinated debt, which has a maturity of 10 years and a call option at the end of 5 years, received subscriptions around US $1.4 billion with an oversubscription rate of nearly three times the issuance from more than 150 foreign investors. This strong demand is a reflection of our expertise in wholesale funding, successful borrowing strategies and leading sustainability strategy. We will use the proceeds of the issuance to finance projects that will support our country's transition to a low-carbon economy. We will continue to take responsibility and action for a more habitable world while also providing resources to our real sector. As one of the leading banks in Turkish banking sector in setting concrete sustainability targets, we believe that we will achieve our targets in sustainable finance, people and community, ecosystem management and climate change with the support of our colleagues.”

“We will continue to work to create a work environment that offers equal opportunities for all”
“’People and Community’ which represents one of the four key areas of our sustainability strategy includes our diversity and inclusion activities. In line with our equality in opportunity focused studies, we run processes focused entirely on competence and performance. Social gender equality stands out as an issue that we attach importance and priority to in this framework. In this context, we are proud that 53% of our colleagues are women and that a significant share of our senior management positions are comprised of women. We will continue to work to create a work environment that offers equal opportunities for all.”

“Our most important asset is our colleagues”
“Our most important asset is our development-oriented, innovative and sophisticated colleagues. We look to help them continually transform their skill sets, as we look to build the banking of the future today. I would like to extend my deep gratitude to our employees for their strong performance, to our shareholders, our customers for the trust they place in us, and all other stakeholders.”

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