Akbank has taken a pioneering step in Türkiye with the launch of its groundbreaking "Sustainable Deposit" product, specifically crafted for commercial clients. This innovative product empowers Akbank’s clients to actively contribute to projects aligned with the United Nations Sustainable Development Goals, fostering positive environmental and social impacts concurrently or individually.
With a diverse array of sustainable financing products, Akbank continues to expand its offerings in the sector, catering to the needs of both retail and commercial clients.
The bank's focus encompasses a variety of sustainable financing transactions, including earthquake relief, employment growth, circular economy initiatives, renewable energy projects, clean transportation, blue finance, and access to healthcare services. Akbank marks a significant milestone in Türkiye with the introduction of the Sustainable Deposit product for its’ commercial clients.
For the first time in Türkiye, with enhanced social benefits; sustainable deposits will enable simultaneous support for both environmental and social projects at the same time such as but not limited to financing earthquake relief, SMEs' access to finance, and financing environmental and social thematic areas such as green transformation, blue finance, renewable energy, and the circular economy. Thus, commercial enterprises can now participate in the funding of initiatives that align with sustainability goals, benefiting from a wide range of maturity options ranging from 92 days to 365 days. Clients utilizing the Sustainable Deposit will also receive support from Akbank in identifying and reporting the positive impacts of their investments.
Levent Çelebioğlu, Executive Vice President of Corporate and Investment Banking at Akbank, emphasized the bank's commitment to enrich its sustainable financing services with this new product, stating, “As we strive to address global issues outlined in the United Nations Sustainable Development Goals, our goal is to continually increase financing for projects with positive environmental and social impacts within our total financing portfolio. We continue to actively pursue new opportunities by following the latest developments in the rapidly evolving sustainable finance agenda. We believe in the impact of diversity in sustainable finance products and services, enriching our offerings to meet clients’ needs. While 'Green Deposits' which are being available on Turkish market often focus solely on positive environmental impact, we take pride in being the first bank in Türkiye and one of the few globally to provide a Sustainable Deposit product that simultaneously focuses on both environmental and social impact. This product aims to extend the positive environmental and social impact beyond our clients’ primary fields of activity. With ongoing research and innovative initiatives in this field, we are committed to supporting our clients on their sustainability journey and developing pioneering products and services.”
Highlighting the transformation of their banking products with a focus on sustainability, Burcu Civelek Yüce, Executive Vice President of Consumer Banking and Digital Solutions at Akbank, said, “We are dedicated to pioneering efforts in reshaping our deposit products to be sustainability-oriented. Our clients can now contribute to social benefit-oriented projects with a positive environmental impact by depositing funds with varying maturities. Our goal is to expedite socially focused projects, including access to basic services, women’s SME empowerment, reconstruction of areas affected by the earthquake, and initiatives promoting positive environmental impact, such as renewable energy and clean transportation.”