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Press Releases and Announcements

Press Releases and Announcements

Alternatif Bank’s Increases Assets by 21% YoY In Q1 2019

08 May 2019

Alternatif Bank continued its support for the real economy by achieving consistent growth in the first quarter of the year. On a consolidated basis, the Bank’s total asset size reached TRY 26.5 billion, growing by 21% from the first quarter of 2018. In the first quarter of 2019, the Bank’s contribution to the real economy through total cash (including leasing receivables) and non-cash loans reached TRY 23.3 billion, while its deposit volume reached TRY 13.4 billion. Bank’s consolidated net profits reached TRY 52.2 million.

On the financial results of the first quarter of the year, Alternatif Bank CEO Kaan Gür commented, “As Alternatif Bank, we successfully completed the first quarter of the year in line with our targets. We took firm steps forward by adhering to our business plan and always prioritising risk management and our Bank’s asset quality. Our shareholders’ equity grew by 20% from the previous year and our capital adequacy ratio reached 17.5%. Our recent TRY 272.7 million capital injection has given us more strength as part of our strategic growth plan and made a significant contribution as a tangible indicator of our shareholder Commercial Bank’s trust in Alternatif Bank and the Turkish economy. We also launched our new projects during this period. One of these projects was bringing together our tailor-made services for our private banking customers under Private Banking.”and added:“As Alternatif Bank, we will continue our sustainable growth journey in the upcoming period by taking firm steps for effective management of the risk factors in global and domestic markets and increasing our support for our customers in the light of our strategy and ‘insightful and advisory banking’ approach. We will continue to add value to Turkey’s business and trade world with our strong correspondent bank relations, new generation advisory branch network, the crucial steps we have taken for digitalisation and our experienced people.”

Alternatif Bank Celebrates a Successful 2018 With Its Employees and Shares Future Targets

18 Apr 2019

Alternatif Bank finalised 2018 with successful performance and an above-industry average growth. The Bank brought together its employees, who are the key element of its success, in the vision meeting with “2019 is Ours” slogan, and assessed the previous year’s results and shared short- and long-term objectives. In addition to all Alternatif Bank and subsidiary employees, the event was honoured by Alternatif Bank Vice Chairman of the Board and The Commercial Bank Group CEO Joseph Abraham, Members of the Board İzzat Dajani, Turgay Gönensin and Zafer Kurtul, and Alternatif Bank CEO Kaan Gür.

In the vision meeting, seniority awards were presented to the employees who left behind 10, 15, 20 and 25 years at Alternatif Bank. Participants of the event also enjoyed joyful moments with the performances of Karsu and ENBE Orchestra.

Alternatif Bank CEO Kaan Gür commented in his meeting speech, “Our Bank maintains its steady growth in line with our strategic objectives. Last year, Alternatif Bank passed a challenging test thanks to the great efforts by our employees and our insightful banking approach. We took firm steps toward realising our objectives to increase our market share by achieving healthy, above-industry average growth. I would like to thank each and every one of our employees for their impressive performance, and our shareholder The Commercial Bank and Board Members for their valued support. Pursuing our growth with our employees and our shareholder’s trust, I believe with all my heart that we will increase our know-how, competency and capital support for Turkey’s real economy and move Alternatif Bank even higher.”

Alternatif Bank Human Resources Executive Vice President Ebru Firuzbay Taşcı said, "As the Alternatif Bank Family, we found the opportunity to assess our business objectives in this organisation that brought all our employees together and we took an important step to create our shared corporate culture. All together, we will create an Alternatif Bank tradition based on the value we offer our customers with our advisory banking approach and our strong team spirit.”

Qatari Investors Meet Turkish Venture Capital Funds in Doha

04 April 2019

Under the leadership of the Presidency of the Republic of Turkey Investment Office and with the contributions of Alternatif Bank and Commercial Bank, Qatari investors came together for Turkish start-ups in Doha.

Each day new steps are being taken in order to increase the scale of commercial and economic ties between Qatar and Turkey, and to form the basis for establishing effective business relationships between the investors of these two countries. In this direction, Turkish venture capital funds came together with Qatari investors to discuss potential collaboration opportunities under the leadership of the Presidency of the Republic of Turkey Investment Office and with the support of Alternatif Bank and Commercial Bank.

Among the participants of the meeting that took place in Doha on 3 April were the Ambassador of the Republic of Turkey in Doha Fikret Özer, The Presidency of the Republic of Turkey Investment Office Vice President Ahmet Burak Dağlıoğlu, Alternatif Bank CEO Kaan Gür and Commercial Bank Executive General Manager of International Banking Fahad Badar, in addition to Boğaziçi Ventures, Istanbul Startup Angels, Ida Capital and Turk Telekom Ventures. High-level executives from the Presidency of the Republic of Turkey Investment Office, Commercial Bank and Alternatif Bank, as well as Qatari investors gave presentations and made one-to-one discussions in the meeting.

The Presidency of the Republic of Turkey Investment Office Vice President Ahmet Burak Dağlıoğlu commented “Turkey and Qatar remain and will continue to remain, two important strategic and economic partners. As a result of this cooperation, in 2018, the trade volume between the two countries reached almost 1.5 billion dollars and the number of Qatari visitors to Turkey exceeded 130 thousand last year. Regarding Foreign Direct Investments there has been a rapid increase in Qatari investments in Turkey over the past 16 years. FDI stock of Qatari companies in Turkey has reached USD 5.5 billion.”

Alternatif Bank CEO Kaan Gür commented, “As Alternatif Bank, we place a great importance on adding value to the assets of our customers and growing with our customers thanks to our 27 years of experience in the Turkish banking industry and our ‘advisory and insightful banking’ approach, which constitutes the foundation of our corporate culture. Strengthened by the friendship between Turkey and Qatar, we stay focused on carrying the already increasing trade between the two friendly and brotherly countries higher each day, and making a difference with our products and services. Along with our shareholder Commercial Bank, we act as a bridge between Qatar and Turkey to increase mutual investments. We strive to meet all the banking needs of our customers in a seamless fashion, and aim to support the prospective investments between the two countries. In addition to our banking services, we also offer exclusive solutions for their financing and investment needs through our subsidiaries Alternatif Lease and Alternatif Menkul.”

Kaan Gür also added: “Turkey continues to attract the attention of international investors thanks to its young population, its agile composition that can easily adapt to technology and its strong finance industry. Turkish start-ups achieved an outstanding success last year by striking important deals and attracting investments. They have shown that they have a huge potential with their accomplishments. We believe that this meeting is a great opportunity to promote the high-potential venture capital funds in our country and the start-ups in their portfolios to Qatari investors, and we are pleased to support this process with Commercial Bank’s support and our experience in the banking industry. Our support for these ventures will continue in the future.”

Alternatif Bank Vice Chairman of the Board and Commercial Bank Group CEO Joseph Abraham also said, “We see the potential of Turkey and Alternatif Bank, which is our largest international investment, and Commercial Bank and Alternatif Bank together consider ourselves at the forefront of developing the strategic relationship between our two countries. Our support for two-way investment between Qatar and Turkey is among our top priorities and we are pleased to have hosted this high-level investment event. Commercial Bank and Alternatif Bank believe that through our close collaboration and cross-border expertise, we can effectively facilitate trade, serve the banking needs, and provide investment opportunities for parties in both Turkey and Qatar.”

Emre Tongo is the new General Manager at Alternatif Lease

01 April 2019

One of the sector’s experienced names, Emre Tongo is appointed as General Manager to Alternatif Lease, one of Alternatif Bank’s subsidiaries.

Alternatif Bank Genel Müdürü Kaan Gür commented on the appointment, “One of Turkey’s leading leasing companies and our subsidiaries, Alternatif Lease creates flexible and qualified solutions to servce our customers’ expectations and assumes a supportive role within our group. I believe that Emre Tongo will bring in valued contributions to Alternatif Lease on its growth journey, and I would like to congratulate Mr. Tongo in his new role.”

Alternatif Lease General Manager Emre Tongo said, ‘’I am delighted to be a part of Alternatif Lease, which stands out in its sector by offering the best custom-made leasing solutions to its customers. I sincerely believe that Alternatif Bank, which takes firm steps toward its objectives, and its subsidiaries as well, will achieve more success in the future.”

Alternatif Bank hits 24% growth in 2018

01 February 2019

Alternatif Bank has announced its financial results for 2018. Achieving a significant performance despite challenging market conditions last year, Alternatif Bank increased its assets by 24% to TRY 25.9 billion from 2017. In this period, the Bank’s contribution to the economy through cash and non-cash loans increased by 24% to TRY 23 billion.

Alternatif Bank continued its steady growth with a successful performance despite all challenging risk factors in 2018. On a consolidated basis, the Bank’s total asset size reached TRY 25.9 billion, growing by 24% from 2017 year-end.. In this period, Alternatif Bank’s contribution to the economy through cash and non-cash loans reached TRY 23 billion increasing by 24%, whereas its deposit volume grew by 21% to TRY 13.6 billion. The Bank’s consolidated net profit reached TRY 205 million, while return on equity is 13%.

On the performance and financial results of the last year, Alternatif Bank CEO Kaan Gür commented: “Our Bank drafted a five-year plan, and we continue our steady growth according to this plan. Amidst the volatile conditions which started in the second half of the previous year, our economy administration, banking industry and, in particular, Alternatif Bank have all passed a difficult test. We took firm steps toward realizing our targets of increasing our market share by achieving above-industry average, health growth; and the results we accomplished is well-reflected in our business targets. In this process, we took care to stand even closer to our customers by organising nearly 30 thousand customer visits in collaboration with our head office and field teams. In addition to our business results, we managed to leave behind some very important milestones last year, including the rebranding and relocation to our new head office building. We closed 2018 with an above-industry growth performance. By continuing our steady growth, our aim is to increase our knowledge, competence and capital support for the real economy and production of Turkey.

Strengthened by the synergy with our shareholder The Commercial Bank, we will launch more and more projects to add value to the economy of our country and the region by ever increasing our close collaboration in 2019. As per our business plan, we have adopted the mission to boost the trade volume between Qatar and Turkey, and play an active role in the trade and investments between the two countries. We aim to support the Qatari businesspeople who wish to do business in our country and the Turkish exporters who wish to do business in Qatar to open up to new markets with the strength of our shareholder in Qatar, Oman and the Middle East, and become the bank of exporters ‘with our advisory bank’ identity.”

Kaan Gür also added: “As Alternatif Bank, we have stood by all businesses, regardless of their sector or scale, which have dreams of growth, believe in a better future for our country, and add value to our economy by contributing to employment and production in the light of our strategy and ‘insightful and advisory banking’ approach. We will continue to be a long-term companion to our customers in 2019, accompanying them in their sustainable growth journey with our robust correspondent bank relations and renewed advisory branch network.”

Alternatif Bank’s new Head Office opening at Vadistanbul

13 November 2018

Contributing to the sustainable development of the Turkish economy, Alternatif Bank moved to its new Head Office building at Vadistanbul. The new Head Office building owned by Alternatif Bank gathers 650 bank employees in İstanbul under one roof, and boasts over 11 thousand m² open offices, modern living spaces and unprecedented greenery, offering a cosy working environment.

The opening ceremony of Alternatif Bank Head Office building on Tuesday, 13 November was hosted by Alternatif Bank Chairman of the Board Omar Alfardan and Alternatif Bank CEO Kaan Gür.

Followed by its rebranding, Alternatif Bank continues its transformation with its new Head Office building at Vadistanbul, bringing together its employees and subsidiaries under one roof. In its new head office building whose interiors were completed within as short as 100 days, the Bank aims to offer its employees various amenities from gym to recreational areas, ensuring a high-level of comfort in the working environment.

An investment that symbolizes Commercial Bank’s confidence in the Turkish economy and Alternatif Bank, the new head office building is officially launched with an opening ceremony.

“One of our greatest transformations after our branding”

Highlighting the dawn of a new era after the rebranding, leaving behind this crucial milestone with this relocation, Alternatif Bank CEO Kaan Gür remarked: “Our new head office building with over 11 thousand m² area is located at Vadistanbul, a prestigious complex with extensive recreational and social areas. So, the area of our building will be larger than the area of our previous head office building and operations technology centre combined.

At the heart of all efforts carried out by our Bank lies an appreciation for “people” and our people-oriented approach. And this approach is based on the happiness of our employees. For that matter, we made an effort to design our new building to be much more comfortable and modern, based on an innovative architectural approach and open-office concept in accordance with the needs and expectations of our employees. We aimed to create a head office building which makes our team mates happy and proud. We allocated large recreational and social areas on each floor for the use of our employees. Our new building features environments which enable our employees to improve their personal competencies, training rooms, 450 m² gym, café and large terrace area, and is in compliance with Leed Certification, an internationally recognized green building certificate program. I believe that as Alternatif Bank Family, we will take our interaction with our subsidiaries, Alternatif Lease and Alternatif Menkul to a higher level, and undertake much more effective and creative projects in the future,” and added:

“After our relocation to the new head office, we hosted a significant number of representatives and analysts from Qatari and foreign financial institutions in our building. This event made us proud and enabled us to review new investment opportunities in Turkey with investors who have been impressed by our successful performance in these challenging market conditions. I hope that our new building, one of the transformations that represent our synergy with Commercial Bank and our strategic priorities, brings prosperity to the Turkish banking industry and Alternatif Bank.

“Our Vadistanbul Head Office is a reflection of our confidence in Turkey and Alternatif Bank”

On his contentment with this new investment, Alternatif Bank Chairman of the Board and Commercial Bank Managing Director Omar Hussain Alfardan commented: “As the first Qatari investor in the Turkish banking industry, we continue to expand our investments in the name of Alternatif Bank. Today, it is a great pleasure for me to launch our Vadistanbul Head Office building, which we reckon as a reflection of our confidence in Turkey and Alternatif Bank, with you.

It is our highest priority in the coming period to increase our support and create new opportunities for the robust strategic collaboration between the allied and friend nations of Turkey and Qatar and for contributing to the sustainable growth target of the Turkish economy. We are certain that our investments in Turkey will continue to grow and add value to the economies of both countries.”

Alternatif Bank hits a 41% growth in the first three quarters

14 November 2018

Alternatif Bank announced its third quarter financial results. Achieving a great performance despite unfavourable conditions in global and domestic markets in the third quarter, Alternatif Bank increased its assets by 41% to TRY 29.3 billion from the end of previous year. In this period, the Bank’s contribution the economy through loans increased by 29.6% to TRY 18.9 billion.

Maintaining its rate of growth with its third quarter financial results, Alternatif Bank has recently hosted the Analyst Day event, which was organised by its shareholder, Commercial Bank in the last two years, and welcomed analysts and representatives of Qatari and other foreign financial institutions in its new Head Office building at Vadistanbul.

Alternatif Bank continued its growth in the third quarter of 2018 with successful financial figures despite the risk factors in global and domestic markets. On consolidated basis, Alternatif Bank’s asset size reached TRY 29.3 billion, growing by 41% from 2017 year-end and by 54% on a year-over-year basis. Alternatif Bank’s contribution to the economy through loans reached TRY 18.9 billion increasing by 29.6% from the year-end, whereas its deposit volume grew by 32.4% to TRY 14.9 billion. In the third quarter, the Bank’s net profits reached TRY 202 million, while return on equity is 16%.

On the third quarter results, Alternatif Bank CEO Kaan Gür commented, “Both our country and our Bank have passed an important test by taking sound actions at a time when volatility in financial markets reached the worst levels of recent history. Under such challenging circumstances, we have managed to take firm steps toward realizing our goals. As in the first two quarters of the year, we have reached an above-sector growth in terms of loans and deposits.

We secured a USD 134 million syndicated loan in August, when the volatility in markets reached its peak. This loan once again confirmed Alternatif Bank’s international reputation and the confidence placed in the Turkish banking industry. By doing so, we have taken concrete steps in our long-term collaboration with international financial organisations.

As a reflection of our support for the ever-growing trade relations between Turkey and Qatar, this year we hosted the Analyst Day meeting, organised by our shareholder, Commercial Bank in Doha and Qatar in the last two years. These meetings have offered many investment opportunities for our country. Commercial Bank’s know-how and influence in the region and our close efforts in perfect synergy pave the way for many potential business collaborations in the future. In this sense, seizing the opportunity to host this investor organisation which is held in different countries by our shareholder at our Bank has honoured us as a sign of their trust in us and our country."

And Gür also added: “In the light of our corporate governance principles and “Advisory Bank” positioning, we stand by all businesses, regardless of their sector or scale, which have dreams of growth, believe in a better future for our country, and add value to our economy by contributing to employment and production. To this end, we have been closer than ever to the real economy and the field with our management, head office and branch teams. We have made great efforts to deliver tailor-made solutions to serve the needs of our customers. Thanks to our insightful banking approach, strong correspondent bank relations and renewed advisory branch organisation, we will continue our sustainable growth journey with outstanding performance in the remaining quarter of the year.

Alternatif Bank Vice-Chairman of the Board and Commercial Bank Group CEO Mr. Joseph Abraham commented: “Turkey is a key strategic partner of Qatar and we remain convinced of its long term strategic importance globally and to the Middle East. Our commitment to Turkey is demonstrated through our $1 billion investment in Alternatif Bank and the recent injections of $50 million of capital and purchase of a new head office in Istanbul in 2018.

We have confidence in Turkey, and provide full support to Alternatif Bank, our most significant international investment to date, which we believe will maintain the high rate of growth seen in the third quarter. For the coming periods, it is our priority to support the strategic collaboration between the two countries in finance and trade, in particular through the contributions of Alternatif Bank, which holds a significant place within our group both with its business model and value creation,” and added: “One of the concrete steps taken as part of this plan has been to host Commercial Bank’s annual Analyst Day at Alternatif Bank’s new Vadistanbul Head Office building in Turkey. In particular we aim to support companies desiring to do business in both markets.”

Alternatif Bank Appoints Ömer Faruk Gönener as Head of Internal Audit

06 November 2018

Standing out in its industry with successful financial figures and strong growth performance, Alternatif Bank has appointed Ömer Faruk Gönener as Head of Internal Audit.

Regarding the assignment, Alternatif Bank CEO Kaan Gür commented: “We attach great importance to seamless execution of our audit system in order to maximise the satisfaction level of our partners, especially our customers, based on our people-oriented approach. As we are taking firm steps toward our targets in the light of our corporate governance principles, from now on Mr. Ömer Faruk Gönener, whom we confide in with his knowledge and experience, will be assuming the Head of Internal Audit role at our Bank. I believe that Mr. Gönener will add value to our Bank, and I would like to congratulate him on his new appointment.”

Ömer Faruk Gönener said, “Alternatif Bank, with its products and services, acts upon its objective to deliver a distinguished banking experience to its customers in strict adherence to its corporate governance principles. Based on this approach, I believe that in my new role we will move our Bank even further toward our long-term objectives with our dynamic and experienced management team.”

About Ömer Faruk Gönener

Ömer Faruk Gönener holds a Bachelor’s degree in International Relations from İstanbul University. In 2003-2015, Gönener served as Auditor, Senior Auditor and Chief Auditor at Akbank, respectively. Gönener acted as Sabancı Center Management Director at Sabancı Holding, before joining Alternatif Bank Family as Head of Suppliers & Cost Management in June 2018. As of November 2018, Gönener serves as Head of Internal Audit at Alternatif Bank.

One more award for Alternatif Bank’s Annual Report from ARC Awards

01 October 2018

Based on a rebranding concept, Alternatif Bank’s 2017 Annual Report received a Bronze Award in “National Banks Cover Photo/Design” category at ARC Awards, which is accepted as the Oscar for annual reports by the business and finance world.

Alternatif Bank’s 2017 Annual Report now added one more award to its list. Following LACP Vision Awards, Alternatif Bank’s annual report has been rewarded in National Banks Cover Photo/Design category at ARC (Annual Report Competition) Awards, which is accepted as the Oscar for annual reports by the business and finance world.

This year 2,199 annual reports from 34 countries applied for the prestigious ARC Awards organised annually by Mercomm, an independent award institution.

The design of Alternatif Bank’s 2017 Annual Report is based on the Bank’s rebranding process with “A New Future on Solid Foundations” motto. The cover design accentuates the Bank’s rebranding from ABank to Alternatif Bank through the use of a special printing technique that animates the old and new logo into one another.

Alternatif Bank CEO Kaan Gür commented: “We are delighted that our annual report, which reflects Alternatif Bank’s renewed brand identity and the change in our banking approach, received an important award at the international ARC Awards, which honours high-end design standards. We see these prestigious awards as a reflection of our high-quality business and service approach.”

Alternatif Bank Management Appoints Experienced Executive

29 August 2018

An experienced banker, Mrs. Yeşim Şimşek is appointed as Corporate and Affluent Banking Executive Vice President at Alternatif Bank.

Regarding the appointment, Alternatif Bank CEO Mr. Kaan Gür commented, “We attach a great importance to the quality of our services and customer satisfaction under corporate banking. To this end, we aim to offer a competent advisory banking service and find unique solutions which will respond to all of the financial needs of our customers. I firmly believe that our new Corporate and Affluent Banking Executive Vice President,Mrs. Yeşim Şimşek will make significant contributions to our targets with her experience, and I would like to congratulate Mrs. Şimşek on her new role.”

Mrs. Yeşim Şimşek also commented, “I am so glad now that I am a part of Alternatif Bank family, which reaches further beyond its advisory bank claim day by day,” and added: “I am certain that with our experienced, competent and dynamic management, we will “Always Advance Together” in corporate and affluent banking.

About Yeşim Şimşek

Yeşim Şimşek graduated from Ankara University Faculty of Communication, and started her professional career in 1986, holding positions at various banks until 2001. In 2001, Şimşek joined Garanti Bank, where she was Branch Manager in Gebze Commercial and 1. Levent Commercial branches until 2004, and İstanbul Regional Manager in 2004-2013. Şimşek recently served as Commercial Banking Marketing Coordinator at Garanti Bank from May 2013 to May 2018.

Alternatif Bank and TIM Give Full Support to Exporters

28 August 2018

Turkish Exporters Assembly (TIM) and Alternatif Bank signed a cooperation protocol in order to create tailor-made banking solutions that respond to the financial needs of exporter companies.

Aiming to support the sustainable growth of the Turkish economy through its renewed vision and exclusive banking experience offered to its customers, Alternatif Bank signed a cooperation protocol with TIM, which represents 71 thousand exporters, at the signature ceremony held at TIM. TIM Chairman Mr. İsmail Gülle, Alternatif Bank CEO Mr. Kaan Gür and TIM Board members attended the signature ceremony.

As per this protocol, Alternatif Bank will provide TIM members with tailor-made, advantageous services and solutions in working capital loans, export loans, investment loans, non-cash loans, payment and collection transactions, foreign trade transactions as well as non-banking processes such as insurance and leasing. The Bank aims to provide support to exporters as they open to new markets with the Commercial Bank’s power in Qatar, Oman, Middle East and North Africa Region. As with the introduction of Qatari Riyal by CBRT as a tradable currency as of June, Alternatif Bank commenced foreign exchange transactions, payments and collections in Qatari Riyal. Therefore, the Bank will be offering services to exporter companies which want to do business with Qatar.

TIM Chairman Mr. İsmail Gülle remarked: “Access to funds and financing costs are two most important problems faced by our exporters. With this step forward, our companies will have ease of access to capital, and their financing costs will be reduced significantly. In March 2017, we signed a similar protocol with seven banks, and now with the advent of Alternatif Bank, an important section of our banking sector has been made available to our exporters. Middle East and North Africa make up 27% of our exports, and 10% of imports is also from these two regions. At this point, we want our exporters to benefit from Alternatif Bank’s and The Commercial Bank’s experience in the region. Thanks to its trading capacity in Qatari Riyal, Alternatif Bank will facilitate business activities especially with the companies that are in relationship with Qatar and accelerate trade in local currencies.

Commenting on the new collaboration, Alternatif Bank CEO Mr. Kaan Gür said: “As Alternatif Bank, we have attained successful results in the first half of the year with our renewed brand identity and growth strategy. We place utmost importance in our collaboration with the Turkish Exporters Assembly, the greatest representative of exporters in our country, in a period in which we have achieved a significant momentum in line with the Bank’s new targets. With our prudent business culture and expert team, we aim to produce advantageous and inclusive solutions that are custom made for the needs of TIM’s valued members and create added value through our “advisory bank” role beyond offering standard banking services. As a result of this approach, we believe that Alternatif Bank will assist TIM members in opening to emerging markets, particularly Qatar, with its banking services. We will continue to support all enterprises which have growth targets, and contribute to employment, production and to the economic progress of our country.”

Alternatif Bank Raises 134 Million Dollars for the Economy

15 August 2018

Alternatif Bank successfully raised a USD 134 million syndicated loan with the participation of 11 banks from 11 different countries. Alternatif Bank CEO Kaan Gür emphasized that this loan, which is expected to contribute to the real economy through trade finance, is an evidence of the confidence placed in the Turkish banking sector and Alternatif Bank by international financial institutions.

Achieving a successful growth above-sector average in the first half of the year, Alternatif Bank secured a syndicated loan facility of USD 134 million comprised of 1 and 2-year tranches. The deal was completed in dual currency tranches of USD and EUR with total amounts of USD 62 million and EUR 62 million. Pricing of the facility was set at Libor + 2.05% p.a. for the USD tranche and Euribor + 1.95% p.a. for the EUR tranche, while the 2 years tranche paid Libor + 2.70% p.a.

The syndicated loan facility demonstrates the strength of Alternatif Bank’s long-term collaboration with its international financial counterparties, said Alternatif Bank CEO Kaan Gür, and added, “Our Bank opened the third quarter with a growth rate that is highly above the sector average. Despite the challenges in the foreign investor appetite, exchange rate volatility and the overall market sentiment, the participation of 11 banks, including 2 new, from 11 countries in our syndicated loan once again confirmed Alternatif Bank’s international credibility and the confidence placed in the Turkish banking sector. I believe that securing this syndicated loan in such a challenging environment is an important step in reversing the recent negative perception towards Turkish economy. The diverse interest rendered to the facility by the banks from Europe, Middle East, Asia and North America is a further evidence of our well-established correspondent network and the strong support by our shareholder The Commercial Bank. The funds raised via this facility will be utilised to support our real sector and economy through trade finance.”

We Remain Confident in Turkey and Alternatif Bank

Alternatif Bank Vice Chairman of the Board and The Commercial Bank Group CEO Joseph Abraham; commented, “We at Commercial Bank remain confident about the long term potential and importance of the Turkish economy. Alternatif Bank is an important part of our regional presence and is our 100% owned subsidiary to which we remain fully committed.”

Alternatif Bank grew by 23% in the first half of 2018

13 August 2018

Alternatif Bank has announced its financial results for the second quarter of 2018. According to consolidated financial results, the Bank’s asset size has reached 25.6 billion TRY , growing by 23.3% from 2017 year-end and by 38.3% on a year-over-year basis. Alternatif Bank’s contribution to the economy through credits has reached 15.3 billion TRY increasing by 20.6% from the year-end, whereas its deposit volume grew by 24.6% to 14 billion TRY . Bank’s net profits reached 136.6 million TRY , while return on equity is 18.1%.

We are growing in accordance with our five-year plan.

Alternatif Bank CEO Kaan Gür remarked: “Our second quarter results are in agreement with our 5-year business plan and targets. In this period, we have achieved an above-sector average growth both in credits and deposits. Despite the risk factors experienced in global and domestic markets in the last two quarters, we have been able to stand by the real economy and the field closer than ever hand in hand with our head office and branch teams. We have put in a great effort as a team in order to hear and listen to our customers, understand their needs and provide them with tailor-made solutions. We have made over 16 thousand customer visits. We have started to serve more than a thousand new companies, which are leaders in their sectors and make significant contributions to the economy with their production and exports. We perceive the positive development in our financial results as a natural reflection of this approach.”

Gür stated that Alternatif Bank is performing even better each quarter in terms of business volume and financial results thanks to its strong correspondent bank relations, renewed “advisory branch” structure and expert personnel, and added: “We will continue to add value to the Turkish economy and sustainable growth in line with our stronger capital structure and prudent banking approach.”

Alternatif Bank’s 2017 Annual Report Wins 4 International Awards

26 July 2018

Alternatif Bank’s rebranding-themed 2017 Annual Report has received 4 awards, including one Gold Award, in 2017 Vision Awards, a prestigious international annual report competition organised by League of American Communications Professionals (LACP).

Alternatif Bank has been presented with a Gold Award for its 2017 Annual Report in Bank Annual Reports category of Vision Awards organised by Florida-based LACP since 2001. Alternatif Bank has also received the Technical Achievement Award which is granted for the first time this year for annual report design and approach. Moreover, Alternatif Bank has been recognised for developing one of the Top 20 Turkish Reports of 2017 and one of the Top 80 Reports in Europe/Middle East/Africa Region. The design of Alternatif Bank’s 2017 Annual Report is based on the Bank’s rebranding process with “A New Future on Solid Foundations” motto. The cover design accentuates the Bank’s rebranding from ABank to Alternatif Bank through the use of a special printing technique that animates the old and new logo into one another. Alternatif Bank CEO Kaan Gür remarks: “We are very pleased to have been granted four awards in 2017 Vision Awards, one of the most prestigious awards in its field, in a period when we set higher targets and transform our corporate identity. We will continue to invest in our brand identity, while reflecting the momentum that we achieved through this rebranding to our business results.” This year, nearly 1000 companies from 44 sectors applying for 2017 Vision Awards were assessed in terms of first impression, report cover, letter to shareholders, report narrative, report financials, creativity, message clarity and information accessibility criteria.

Top Level Assignment at Alternatif Bank

11 June 2018

Ebru Taşçı Firuzbay has been appointed as Alternatif Bank’s new Executive Vice President of Human Resources.

Restructuring its human resources management with a focus on employee development as part of its rebranding process, Alternatif Bank now welcomes the appointment of its experienced Human Resources Executive Vice President, Ebru Taşçı Firuzbay.

Regarding the appointment, Alternatif Bank Chief Executive Officer Kaan Gür said: “As Alternatif Bank, we aim to reflect our corporate values to all of our stakeholders, and in particular to our employees. The competence of our human resources is of great importance in that it constitutes the basis for the high-quality service we provide to our customers. In this respect, we will continue our efforts for the development of our employees. I believe that our new Human Resources Executive Vice President, Mrs. Ebru Taşçı Firuzbay will add value to our Bank thanks to her experience in the finance sector and her strategic perspective.”

Ebru Taşçı Firuzbay also said: “I am happy to join Alternatif Bank Family, which is one of the important players in the banking sector. With the support of our experienced management team, we will prepare our employees for the future by improving our human resources management with new generation practices in line with the objectives and strategies of our Bank. Our purpose is to strengthen Alternatif Bank as an employer brand by supporting our corporate culture hand in hand with our employees.”

Alternatif Investment Welcomes its New Experienced General Manager

5 June 2018

A subsidiary of Alternatif Bank, Alternatif Menkul Değerler A.Ş. is pleased to announce the appointment of its new General Manager, Attila Penbeci.

Industry veteran Attila Penbeci has been appointed as General Manager of Alternatif Menkul Değerler A.Ş., a subsidiary of Alternatif Bank which has recently made a name for itself with its rebranding and new strategy.

“Our subsidiary, Alternatif Investment has a significant and complementary role in delivering tailor-made solutions to respond to the investment and financing needs of our both commercial and retail customers. I strongly believe that, thanks to his experience and know-how, Mr. Attila Penbeci will make a significant contribution to our upcoming growth journey which we will continue hand in hand with our subsidiaries,” said Alternatif Bank Chief Executive Officer Kaan Gür.

Noting that Alternatif Investment is a well-established company with over 20 years of experience in capital markets, Attila Penbeci said: “We will move firmly towards our shared goals with the synergy that we will build up with Alternatif Bank and its subsidiaries.”.

Alternatif Bank increased its asset size by 21.3% in Q1

04 May 2018

Having gone through a rebranding process in March in line with its renewed future strategies, Alternatif Bank announced its Q1 2018 results. According to the consolidated results, Alternatif Bank increased its asset size by 21.3 percent compared to the same quarter of the previous year and reached 21.9 billion Turkish lira.

In the same period, Alternatif Bank’s contributions to the Turkish economy through loans rose by 34.5 percent to 15.8 billion Turkish lira, while its deposits increased by 29.5 percent to 11.3 billion Turkish lira. In the first quarter of 2018, the bank generated a net operating profit of 39 million Turkish lira.

Commenting on the financial results for the first quarter of 2018, Alternatif Bank CEO Kaan Gür said, "We are delighted to have achieved a thriving performance in the first quarter by successfully integrating the momentum we achieved through our rebranding into our financial results. Our commitment to corporate management principles is just as important for our success as our employees' dedication to offering the best solutions to our customers. In the upcoming period, we will offer insightfull approach to banking with a long-term approach and continue to contribute to the growth of companies as reliable banking partners. We will stand by companies that want to benefit from the growing foreign trade and investment between Qatar and our country through the support and know-how of our shareholders.

Alternatif Bank Appoints New Senior Executive

21 March 2018

Alternatif Bank has appointed Önder Özcan as Executive Vice President, Financial Affairs and Planning.

Making headlines with its recent branding, Alternatif Bank has announced the appointment of Önder Özcan as its new Executive Vice President, Financial Affairs and Planning.

Alternatif Bank CEO Kaan Gür said: "At Alternatif Bank, we will continue to grow with the real economy by further supporting producers and manufacturers with our know-how, insights, and by making more loans available to them. We are confident that Önder Özcan will make significant contributions to our financial affairs and planning throughout our growth journey and wish him success in his new position as a valued member of the Alternatif Bank family."

Önder Özcan said, "Alternatif Bank is a well-established organization with a quarter-of-a-century history behind it. I am delighted to be back, this time as a senior executive, at the institution where I embarked on my banking career. In this new period we began with our rebranding, I believe we will take firm steps toward our growth targets with active and efficient capital management, while offering world-class service to our customers".

Önder Özcan

Önder Özcan graduated from Adana Anatolian High School and studied Business Administration at Middle East Technical University. He embarked on his banking career in 1998 at Alternatif Bank as a management trainee. Özcan served in the bank's Financial Control and Treasury Risk Control Departments until 2004.

After serving at various senior level positions at the Denizbank Management Reporting and Budget Planning Group Department between 2004 and 2014, he took on the position of Executive Vice President from 2014 to 2018. He was also a board member at Deniz Leasing and Intertech Bilgi İşlem ve Pazarlama A.Ş. between 2017 and 2018.

Alternatif Bank CEO Kaan Gür elaborated on the transformation process, stating : "We'll become the bank of insightful merchants!" We will continue our journey as Alternatif Bank

06 March 2018

Operating in Turkey for 26 years, the former ABank became a 100 percent subsidiary of The Commercial Bank at the end of 2016, one of the most established and innovative financial institutions in Qatar and the MENA region. Interaction between the two banks has reached a new high to reshape the future strategy of the bank. The bank now has a renewed brand identity and will continue its operations as Alternatif Bank.

The former ABank will continue its operations under the official trading name of Alternatif Bank, after becoming a 100 percent subsidiary of Commercial Bank, Qatar's first private bank at the end of 2016 following a three years of partnership. Alternatif Bank kicked-off a strong transformation project with the contribution of banking doyens who were transferred to the bank's top management in 2017, while renewing its logo and brand identity to symbolize the full integration of two entities. On March 6, 2018, the corporate rebranding was deployed at all branches across the country.

Alternatif Bank’s CEO Kaan Gür shared the principles of the transformation and the bank's future goals at the press conference hosted by Commercial Bank Group CEO and Alternatif Bank’s Deputy Chairman, Joseph Abraham.

We are fully integrated with Commercial Bank’s global synergy.

The CEO of Alternatif Bank, Kaan Gür, highlighted the fact that the new trading name and brand image is more than just a physical change, but rather resembles full integration with the global vision and goals of Commercial Bank. He said that they embarked on this journey with bigger ambitions in Turkey and in the world, adding, "As of today, Alternatif Bank is our brand name." Gür also added, "The cornerstones of our transformation strategy are: Investment in Human Capital, Customer Satisfaction by Seamless Service, Effective Management of Capital, Compliance with Corporate Governance and Creative Innovation."

Banking for Insightful Trade...

Depicting this transformation as an indication of real change in common banking approaches, Gür said: "Our power roots from Commercial Bank's insightful business culture, capital structure and experience, as well as its international reputation and vision; not to mention our trust in our expert staff. As a renewed entity, we aim to work with industries and enterprises of all sizes that dream of growth, believe in a better future, and contribute to our country's production. We will serve our customers by hearing, listening to, and understanding them well, and by meeting their needs as quickly as possible. We will be the bank of insightful trade by focusing on growth for each of our customers' business or trade journeys."

Five-Year Goals Are Set

Underscoring the fact that the banking spirit and business world are now more different, modern, technology-focused, and energetic than ever, Kaan Gür concluded his speech by saying, "We already set the goals we want to reach in five years. Alternatif Bank aims to transfer knowledge, competence and capital to the real sector and its production by providing comprehensive consultancy services. We will offer our 'impeccable service approach' and banking expertise through 53 branches, around 1,000 of competent employees, and a streamlined technological infrastructure.

"We are confident in our investment in Turkey.”

Opening the press conference, the Group CEO of Commercial Bank and Vice Chairman of Alternatif Bank, Joseph Abraham remarked, "We are confident that our investment in Turkey will continue growing and add value to the economy of both countries. Our investment in Alternatif Bank amounting nearly USD 1 billion marks the Qatari private sector’s highest investment in Turkey. Alternatif Bank has the full support of Commercial Bank and we have made a lot of progress in the last year in terms of greater collaboration and integration. Our intention is to continue to align our businesses closer together and transfer our international know-how to take Alternatif Bank to a new phase of sustainable growth supported by strong corporate governance principles.”

Abraham: "Turkey is at the epicenter of Commercial Bank's international targets."

Abraham touched on the strategic importance of the bank for Commercial Bank and concluded his words by saying “Qatar and Turkey are strategic partners, and the GCC economic blockade has brought our two friendly countries even closer together with diplomatic, cultural and economic relations growing stronger. This opportunity combined with Turkey’s location that bridges the East and West, and the strong growth potential of the Turkish economy, means that we believe Alternatif Bank has an exciting future ahead."

Alternatif Bank’s new commercial aired for the first time.

The meeting also showcased the new commercial created for the rebranding, which highlights Alternatif Bank's role in transforming a small business into a large company. Kaan Gür, commenting on the new commercial film, said, "We deliberately selected the Turkish ballad of “Uzun İnce bir Yoldayım” (I am on a Long and Narrow Path) by Aşık Veysel. Our goal is to become a player that adheres to and respects local values while offering world class services. We wanted to present that we see business relationship as long journey and our role is to add value to our clients at all stages. We accompany our customers along their business journeys. That's way we say, "Always advance together"

Alternatif Bank Appoints New IT Head Esra Beyzadeoğlu

22 February 2018

Alternatif Bank has appointed Esra Beyzadeoğlu as Executive Vice President, Information Technologies.

Alternatif Bank CEO Kaan Gür underscored that Alternatif Bank puts its customers at the center of its investments in operational excellence and information technologies and added: "Aware of the big role of IT in shaping the future of the banking industry, we are happy to add such a prominent executive as Esra Beyzadeoğlu to our senior executive team. We are enhancing and improving our IT processes and applications without compromising on quality, information security, and customer focus. I believe Esra Beyzadeoğlu, our new Executive Vice President, will greatly contribute to our bank's objectives. I wish her success in her new position as a crucial member of the Alternatif Bank family.

Esra Beyzadeoğlu, the new Executive Vice President, Information Technologies, expressed her pleasure in joining Alternatif Bank’s senior executive team and said: "At Alternatif Bank, we hold many major international IT quality certifications. I am confident that we will make a difference in this industry by following a banking approach based on understanding and supporting customers at all contact points.

Esra Beyzadeoğlu

Esra Beyzadeoğlu graduated from Istanbul Atatürk High School of Science and studied Industrial Engineering at Galatasaray University. She later completed The Sabancı Executive MBA Program at Sabancı University. Beyzadeoğlu has 18 years of industry experience as business analyst, project manager, manager, and technology consultant.

In 2015, she was named the "IT Executive of the Year" at the Stevie Awards and in 2016, the "Vice President of the Year" at the "Women’s Empowerment & Leadership Summit" hosted by TraiCon Events. Beyzadeoğlu served as Senior Vice President-IT at Akbank Information Technologies between 2011 and 2018 before joining Alternatif Bank

Alternatif Bank Announces 2017 Financial Results

16 February 2018

Alternatif Bank increased its asset size by 18.2 percent and reached a volume of 20.8 billion Turkish lira

On the basis of consolidated results, Alternatif Bank increased its asset size to 20.8 billion Turkish lira, up 18.2 percent over last year. The bank's loans increased by 24.3 percent and reached 14.6 billion Turkish lira; while the deposit volume increased by 27.8 percent to 11.2 billion Turkish lira. In 2017, shareholders' equity of the bank increased by 33 percent to 1.7 billion Turkish lira and the net profit reached 89 million Turkish lira.

Alternatif Bank CEO Kaan Gür emphasized that their performance as a bank is due to the efforts and approach to understand and be familiar with their customers, as well as the employees' devoted efforts to offer consultancy services. Gür indicated that the positive influence of the Loan Guarantee Fund (LGF) that was provided to the market played a significant part, particularly in terms of the increase in the loan volume. He stated that, under LGF coverage, with a portfolio exceeding 1 billion Turkish lira, they continue to support projects that will provide employment and infrastructure in the Turkish economy in the short term.

Effective risk management, top-level customer experience and sustainable growth

Gür emphasized that in 2018, in addition to the international reputation and power of The Commercial Bank, Alternatif Bank will perform much better in terms of service level, business volume and financial results thanks to its corresponding bank relations, renewed branch structure and expert employees. He concluded by saying: "In 2018, we will witness an even stronger and more effective Alternatif Bank both in the Turkish finance industry and in its international banking activities by further strengthening the synergies we have created with our shareholders. In the period ahead, without compromising on effective risk management, we will continue our journey of sustainable growth by providing added value to Turkey's business and trade sphere."

Alternatif Bank Becomes Main Sponsor of Golf Tournament in Antalya

06 February 2018

Alternatif Bank partnered up with Diners Club Card to become the main sponsor of the 15th International Golf Mad Pro-Am Tournament in Antalya.

One of our country's most notable international golf events, the 15th Golf Mad Pro-Am Tournament was organized in Belek, Antalya, between January 28 and February 4, 2018, under the main sponsorship of the Alternatif Bank Diners Club Card. The tournament saw 204 golfers from 25 countries.

We are thrilled to have joined Diners Club, one of the world’s most prestigious credit cards, in sponsoring this important tournament that attracted golfers from a variety of countries, Alternatif Bank CEO Kaan Gür said during his gala dinner speech at the end of the tournament. “We felt the synergy between amateur and professional golfers throughout the tournament. I'm grateful to everyone for their hard work and for being part of these precious moments,” he stated.

Gür noted the great support of Alternatif Bank’s parent, The Commercial Bank, provides to golf. “The Commercial Bank is the biggest sponsor of the Commercial Bank Qatar Masters Golf Tournament, a leg of the European Tour Tournament, which has been held in Doha since 1998. Golf has been on the rise in our country over the past decade in terms of the sport itself and sport tourism. Golf has been a major contributor to the tourism revenues of our country, which has recently got its 24th golf course. In that respect, we attach great importance to our sponsorship of the International Golf Mad Pro-Am Tournament, one of Turkey’s most prestigious golf tournaments, and hope that the tournament will continue to support the sport in the future,” he said.

USD 100 million support from EBRD to Alternatif Bank

05 February 2018

EBRD increases its Trade Finance line for Alternatif Bank to USD 100 million

The European Bank for Reconstruction and Development (EBRD)’s support to Alternatifbank (Alternatif Bank) under its Trade Facilitation Programme (TFP) has reached USD 100 million. Having joined EBRD’s TFP in 2016 with USD 50 million, Alternatif Bank has achieved a fast utilisation of the facility and attained to double its limits.

Through this facility the EBRD issues guarantees in favour of international commercial banks, covering the political and commercial payment risk of the transactions undertaken by Alternatif Bank. In addition, Alternatif Bank can also benefit from the EBRD’s award-winning technical cooperation projects in trade finance.

Arvid Tuerkner, EBRD Managing Director for Turkey, said: "We welcomed Alternatif Bank as a partner at the end of 2016 and since then we have seen our cooperation grow into a strong relationship. We are pleased that our facility has helped the lender to better meet clients’ trade finance needs and further expand activities that benefit the wider economy.”

CEO of Alternatif Bank Kaan Gür added: “Multilateral Financial Institutions have always played an important role in Alternatif Bank’s history. We are very pleased to have the opportunity to demonstrate a fast progress in our relationship with EBRD which was initiated in 2016. Apparently, our active utilisation of the TFP limit reconfirms Alternatif Bank’s growth targets in trade finance, which is one of the priority business lines for the Bank. The two-fold increase in our limit will enhance our capacity in supporting the real economy.”

Alternatif Bank Issues 150 Million Turkish Lira Worth of Commercial Paper Issue

11 January 2018

After a quarter-century in the Turkish banking sector, Alternatif Bank welcomed the new year by issuing commercial paper.

Alternatif Bank announced that the volume of the public offering of total commercial paper issue was equal to nominal 150 million Turkish lira. Regarding the issue in high demand from individual and corporate investors, the annual simple interest rate for the 76-day discount commercial paper was set at 14.60 % and the compound interest rate at 15.47 %.

Alternatif Bank General Manager Kaan Gür says that the bank aims to use every instrument actively to support the Turkish economy and the real sector. "The commercial paper we issued will be traded among qualified investors on the Istanbul Stock Exchange. We aim to use the resources in the projects that will contribute to the growth of the Turkish economy and the financing of the real sector."

Alternatif Bank announces Q3 2017 results:

23 November 2017

Alternatif Bank Continues to Contribute to the Turkish Economy

According to the announced Q3 2017 financial results, Alternatif Bank increased its asset size to 17.6 billion and its deposits to 9.5 billion Turkish lira. Alternatif Bank has announced its profit as 71 million Turkish lira, while its loans also contributed to the Turkey's economy with 12 billion Turkish lira.

Having made a huge impression on the market with its top executive transfers, Alternatif Bank announced its Q3 2017 results. According to the unconsolidated financial results, Alternatif Bank increased its asset size by 25 percent compared to the same quarter of the previous year and reached to 17.6 billion Turkish lira. Alternatif Bank’s contributions to the Turkish economy through loans reached 12 billion Turkish lira whilst its deposit volume increased by 31 percent to 9.5 billion Turkish lira. The Bank posted 71 million Turkish lira net profits in the first three quarters of the year.

Alternatif Bank CEO Kaan Gür has evaluated the reports and emphasized the positive results of their customer oriented approach and the support given by Commercial Bank: “The positive momentum in Q3 2017 stems from our customer oriented approach. We are determined to reach our sustainable growth target with the support of Commercial Bank, which we became a % 100 shareholder as of 2016, and the commitment of our colleagues. As Alternatif Bank, we will continue outperforming ourselves by putting our customers at the center of all our operations. We will also enhance the added-value we produce for all our stakeholders and our country, to a great extent."

NEW ERA AT ALTERNATIF BANK

20 September 2017

Cenk Kaan Gür, a prominent figure in the Turkish banking industry with more than 28 years of experience, is appointed as Alternatif Bank CEO

With senior management changes, a new era has begun at Alternatif Bank, with over 25 years in Turkish banking sector operating as a 100% subsidiary of The Commercial Bank, Qatar's first private bank. The Board of Directors of Alternatif Bank has announced the appointment of Cenk Kaan Gür to the role of Chief Executive Officer, subject to regulatory approval.

Cenk Kaan Gür has 28 years of experience in the banking industry, beginning his career with Garanti Bank. Prior to serving as the Director in charge of SME Marketing Coordination, he assumed the roles of branch and regional manager in Corporate, Commercial and SME Banking at Garanti Bank. Cenk Kaan Gür joined Akbank as Executive Vice President in charge of SME Banking in 2011. He served as Executive Vice President of Commercial Banking in Akbank and held the positions of Chairman of AKlease and Vice Chairman of AK Investment, which are both Akbank subsidiaries.

Alternatif Bank Chairman and Commercial Bank Managing Director Omar Hussain Alfardan said: “Under the management of Cenk Kaan Gür, a talented and experienced leader, Alternatif Bank will pursue its growth by offering the best service for its customers and will increase its contribution to the Turkish economy. We believe that with the support of increased commercial relations between Turkey and Qatar, we will create significant value to our customers. Cenk Kaan Gür and our new non-executive directors Zafer Kurtul and Turgay Gönensin, all bring strong experience and skills that will propel Alternatif Bank.”

“On behalf of the Board of Directors, I would also like to thank our outgoing CEO, Müge Öner, and wish her the best for the future,” Omar Hussain Alfardan added.

Alternatif Bank Vice Chairman and The Commercial Bank Group CEO Joseph Abraham said: “Turkey has a bright future ahead, with huge potential for economic growth in the mid to long term. Turkey and Qatar enjoy a close strategic relationship with economic ties growing ever stronger and deeper. Alternatif Bank and The Commercial Bank together are at the forefront of this strategic and economic relationship and I’m looking forward to working closely with Kaan as we integrate our two banks further in order to offer our clients a seamless banking experience across both countries, and capture a larger share of the investment and trade flows between Turkey and Qatar that are rapidly accelerating.”

Cenk Kaan Gür: “Alternatif Bank will continue to grow.”

Cenk Kaan Gür, said: “I’m very excited to be working alongside a strong and talented team at Alternatif Bank and our shareholder The Commercial Bank. As Alternatif Bank, we will work with the ambition of contributing more to our customers and the economy of our country with our perspective of profitable growth and innovative banking. We will further strengthen Alternatif Bank's position in the sector. With the increasing collaboration and integration between Alternatif Bank and The Commercial Bank, we aim to increase our service quality and by this means, to create more value for our customers. I believe that Alternatif Bank's strong performance in the coming years will contribute significantly to our country's economy and our shareholders.”

Two Doyens Join Alternatif Bank Board of Directors

21 August 2017

Zafer Kurtul and Turgay Gönensin, two doyens from the Turkish banking industry, have been appointed to the Board of Alternatif Bank

Alternatif Bank which has become a 100% subsidiary of The Commercial Bank at the end of 2016 has disclosed the information that in accordance with its board of directors’ decision Didem Çerçi and Paul Gossiaux has resigned from their positions; and Zafer Kurtul who served as Sabancı Holding CEO between the years 2010-2017 has been appointed as the board member and audit committee chairman and Turgay Gönensin who has worked in senior roles at Garanti Bank for many years has been appointed as the board member and credit committee chairman. The Bank also states that Joseph Abraham who is currently an Alternatif Bank board member and The Commercial Bank Group CEO will take the role of Board Vice Chairman. Alternatif Bank Chairman and The Commercial Bank Managing Director Mr. Omar Hussain Alfardan said: “We are very pleased to have senior professionals of the calibre of Mr. Zafer Kurtul and Mr. Turgay Gönensin joining the Board of Alternatif Bank. Their appointments reflect the importance we place on Alternatif Bank and our business in Turkey. Their valuable experience, insights and contributions will be key to the successful development and execution of our growth plans in Turkey.”

Zafer Kurtul Biography

Mr. Kurtul studied Business Administration at Istanbul University and holds an MBA degree from Wisconsin-Madison University. After working in executive roles at Citibank, BNP-Ak-Dresdner Bank and Societe Generale, Mr Kurtul joined Akbank as an EVP in 1998. He served at the same bank as the CEO between the years 2000-2009 and as the Board Vice Chairman from 2009 to 2010. He worked as Sabancı Holding CEO between 2010-2017 and he also assumed the Board Chairman role at various subsidiaries of the Sabancı Group in the same period.

Turgay Gönensin Biography

Mr Gönensin studied Business Administration at Boğaziçi University and started his banking career as management trainee at İnterbank at 1985. During the period 1987-1995 he was manager of Financial Institutions and Corporate banking for Garanti Bankası. He worked as an EVP at Finansbank between 1995 and 1997. He assumed the role of CEO at United Garanti Bank International between 1997 and 2000, and at Osmanlı Bankası in the years 2000 – 2001. From 2002 to 2013, Mr Gonensin served as an EVP and Commercial Banking Head at Garanti Bankası, and from 2013 – 2015 as EVP responsible for the coordination of all Garanti subsidiaries and international operations. From 2015, he was a board member and credit and audit committee member of Garanti subsidiaries until May 2017.

Confidence Extended to Alternatif Bank by The International Financial Counterparties

19 July 2017

Alternatif Bank Secures Syndicated Loan equivalent in total of USD 225 mio

With a %100 renewal success Alternatif Bank was able to secure from its major international and domestic counterparties USD 225 million funds with the participation of 17 banks from 12 different countries. The loan will contribute to the Turkish economy through financing of foreign trade flows and it is interpreted as a reflection of the trust extended to Alternatif Bank and the Turkish banking sector by the international and domestic financial institutions.

Celebrating its 25th year anniversary in the Turkish banking sector, Alternatif Bank received a syndicated loan facility at an amount of USD 225mio comprised of 1 and 2 years tranches. The deal was closed in dual USD and EUR currencies in respective tickets of USD 123 million and EUR 89 million. Pricing was set at Libor + 1.85% p.a. for the USD tranche and Euribor + 1.75% p.a. for the EUR tranche, while the 2 years tranche paid Libor + 2.50% p.a.

The renewed facility has strengthened the collaboration that we had in place with our selective international financial counterparties, said Alternatif Bank’s CEO, Ms Müge Öner; she further commented that “The successful renewal of the loan in full is a further assurance of Alternatif Bank’s international credibility and the confidence placed with the Turkish banking sector”.

Middle East, Europe and North America

Sharing his views on the deal, Mr. Şakir Sömek, Executive Vice President of the International Financial Institutions Department of Alternatif Bank, said that the loan was materialized with the support of 17 banks from 12 different countries; he said “ The geographical distribution of the loan reflects the support rendered mainly from the Middle Eastern banks which had 44% composition of the facility amount, while European and North American banks provided 36% and 15% of the funds and the remaining 5% share was covered by Turkish banks. Apparently, the deal attracted appetite from 12 countries of a wide geography, is a further proof of our well established correspondent network and the strong support extended by our shareholder The Commercial Bank. The funds secured via this facility will be utilized to finance our clientele’s foreign trade requirements.

Alternatif Bank Quality Recognized with 3 New Registrations

22 May 2017

Alternatif Bank's quality standards continue to earn international quality certifications. Alternatif Bank stands out with its certifications in the information technology service management, data security, and business continuity.

Having recently obtained quality assurance certifications in Customer Satisfaction, Quality Management, and Information Security Management, Alternatif Bank has increased the number of its internationally recognized quality standards to six by receiving certification in Information Technologies Service Management System (TS ISO IEC 20000-1), Information Technologies Business Continuity Management (ISO 22301), and Data Protection and Personal Information Security Management System (ISO 10012) in the second quarter of the year.

Alternatif Bank IT and Operations Group COO Tanol Türkoğlu emphasized that these new registrations complement the ISO documents obtained recently.

"This means our certifications of conformity with the standards and those we've received in the second quarter of the year not only attest to the recognition of our international quality standards, but also, our improvement and transformation strategy, which we call Focused Banking, from a technological perspective. In a rapidly digitizing world, any interruption of IT infrastructure or any issue about data security could severely ruin our financial situation and corporate reputation. In this context, continuous improvement of quality standards is vitally important. We think that these new quality certifications set us apart in today's fiercely competitive market."

Business Continuity and Personal Data Security

Türkoğlu underscored that personal and corporate data security is crucial in the face of increasing cyber threats. "Although it is vital for business continuity to access data anywhere at any time from any device, such advantages make systems vulnerable to risks. Enterprises should take every measure to meet user demand without interruption. Such improvements and investments that raise our standards are our utmost priority."

Alternatif Bank–NN Hayat ve Emeklilik Collaboration

10 May 2017

Alternatif Bank and NN Hayat ve Emeklilik signed a five-year collaboration deal.

Alternatif Bank, which has been in the banking industry for 25 years, and NN Hayat ve Emeklilik, part of the NN Group that serves more than 15 million customers in 18 countries, are joining forces for a five-year bancassurance collaboration deal. Both companies aim to enhance their sustainable growth momentum through this agreement and to continue to offer added value to their respective industries.

Müge Öner, Alternatif Bank Board Member and CEO, stressed that the collaboration with NN Hayat ve Emeklilik is in line with their Focused Banking strategy, and enables them to expand their service portfolio. "Life insurance is becoming increasingly essential. Our country's growing insurance penetration foretells great potential in this field. We aim to transform this potential into business results through the NN Hayat ve Emeklilik collaboration," she said.

Emphasizing this deal between two major companies, Öner emphasized that Alternatif Bank will build a special product and service model for their customers in the next five years, adding, "Both we and NN Hayat ve Emeklilik have completed all required investments and have begun to offer new services brought about from this collaboration to our customers. We will expand our product portfolio in the upcoming period using the evolving synergy between our two entities and will continue to move towards our sustainable growth target."

Meanwhile, the CEO of NN Hayat ve Emeklilik, Marius Popescu, expressed his thoughts on this consequential collaboration. "Through this collaboration with Alternatif Bank, we have acquired a significant distribution channel and expanded our area of activity. I'm of the opinion that Alternatif Bank enjoys a distinctive and special place in the industry. And I'm looking forward to working with Alternatif Bank with pleasure. This deal also highlights the importance that the NN Group places on growth in the banking channel and our intention to continue investing in the Turkish market."

Alternatif Bank Launches a Pilot For "Blockchain" Technology.

04 May 2017

A New Step From Alternatif Bank Towards the Technology of the Future

Alternatif Bank, through a partnership with its majority shareholder The Commercial Bank of Qatar, the group banks National Bank of Oman (NBO) and the United Arab Bank (UAB), and banks from Egypt and India, became the first bank to accomplish the "Blockchain" application, one of the key technologies of the future, in Turkey and the region.

Alternatif Bank became the first Turkish bank to achieve an international money transfer using "Blockchain" technology infrastructure, a system spreading fast around the world.

Alternatif Bank secured this achievement thanks to its partnership with majority shareholder, The Commercial Bank of Qatar, together with the group banks National Bank of Oman, United Arab Bank and banks in Egypt and India. This made Alternatif Bank not only the first Turkish bank to perform this type of transaction in Turkey, but also in the Middle East and Eastern Europe.

The Pilot Scheme Concluded Successfully

Alternatif Bank stated that after the success of this first transaction, described as the pilot phase, its objective is to enlist other countries and banks from regions with high transaction volume and expand the Blockchain network with support from The Commercial Bank.

Direct Link Between Sender and Receiver

Envisioned as one of the key emerging technologies, Blockchain is described in a nutshell as a distributed database that enables the follow-up of encrypted transactions. As the name suggests, the technology is a database constructed on chain mode. It can be followed through but not broken, allowing for independent transactions unconnected to a center. In this way transactions can be conducted directly between the buyer and the vendor in a secure environment.

Offers Security, Speed, and Cost Advantages

Müge Öner, Alternatif Bank General Manager and Board Member, said that in this first-time collaboration with the banks, they created a Blockchain network utilizing cloud- based technology on an account book database. She added, "As we increase security, accuracy, and speed in inter-bank transactions on this network, we shall also eliminate the need for an intermediary, thus offering our customers a faster and more cost-efficient service. In the next phase of the project, we shall focus on trade finance transactions and expand Blockchain technology to cover legal and commercial documents going beyond just the payments. In summary, all trade finance transactions will be performed within the Blockchain network, simplifying purchase orders and the exchange of invoices. In the final count, our aim is to totally eradicate international paper trails. Essentially, this is going to help cutting costs while improving security and speed."

Alternatif Bank Announces 2017 Q1 Results

26 April 2017

Alternatif Bank continues to grow with Commercial Bank

According to 2017 Q1 results, Alternatif Bank increased its asset size by 31 percent to 16.8 billion Turkish lira and its deposits by 35 percent to 8.8 billion Turkish lira year- on-year. The Bank posted a 28 percent rise in its loan volume and 24.1 million Turkish lira in profits.

Alternatif Bank announced its financial statements dated March 31, 2017. Based on unconsolidated financial statements, Alternatif Bank performed well in the first quarter of this year, increasing its asset size by 31 percent to 16.81 billion Turkish lira and its loan volume by 28 percent compared to a year earlier. It made a contribution of 10.6 billion Turkish lira to the Turkish economy through loans. Alternatif Bank expanded its deposits by 35 percent to 8.79 billion Turkish lira. The Bank posted 24.18 million Turkish lira in profits for the first quarter of 2017.

Alternatif Bank CEO and Board Member Müge Öner praised 2017 Q1 results as successful: “We achieved 31 percent, 35 percent, and 28 percent rises in assets, deposits, and loan volume, respectively, year-on-year. In the same period, we also contributed nearly 10.6 billion Turkish lira to the Turkish economy,” she said.

Noting that Alternatif Bank is a wholly owned subsidiary of Commercial Bank, Öner continued, "In accordance with our goals that are thriving through the vision of Commercial Bank, we are determined to expand our business volume in all focus areas, particularly in the corporate and commercial segments, without compromising on our effective risk management approach. We will maintain sustainable growth by further progressing our unique and specialized approach with the strength we draw from our shareholders. One of our main priorities will continue to include supporting the ever-growing trade collaboration between Turkey and Qatar, and capitalize on the opportunities it creates."

The Commercial Bank Acquires Hundred Percent Stake in Alternatif Bank.

19 December 2016

We view this strategic move as an important step in the The Commercial Bank’s regional expansion strategy”

One of the most reputable banks of the GCC region and Qatar’s first private bank, The Commercial Bank (P.S.Q.C.) acquired Anadolu Group’s remaining 25 percent stake in Alternatif Bank, thereby becoming the sole shareholder of the bank.

Omar Hussain Alfardan, The Commercial Bank Board Director and Alternatif Bank Vice Chairman, noted how the move would lead to stronger synergies and closer integration between the two banks.

Joseph Abraham, The Commercial Bank CEO, said: “We view Turkey as an important investment center in the medium and long term. Owning hundred percent of Alternatif Bank’s shares means that we will be able to offer our clients in Qatar and Turkey a seamless banking experience across both countries.”

Tuncay Özilhan, Anadolu Group Chairman, thanked for the extremely productive partnership continued for over 3 years and underlined that they were leaving Alternatif Bank in safe hands.

Müge Öner, Alternatif Bank Acting CEO and Board Member, noted that the bank now belonged in its entirety to one of the prestigious financial institutions of the world, The Commercial Bank, adding that they continued with firm steps towards their sustainable growth target in line with their Focused Banking strategy.

Qatar’s first private bank renowned for its innovative banking vision, The Commercial Bank, and Anadolu Group finalized the transfer of Alternatif Bank shares. The Commercial Bank (P.S.Q.C.), which had acquired a 70.8 percent stake in the bank from Anadolu Group in July 2013 before increasing its shares to 75 percent with share buyback, bought Anadolu Group’s remaining 25 percent stake from for USD 222.5 million, thereby becoming the sole owner of the bank.

Conducted via exercising the put option within the shareholders agreement signed during the first share transfer in 2013, the resolution concerning the sale of 25 percent of the shares was disclosed to the Turkish Public Disclosure Platform in July 2016.

“Greater collaboration and integration.”

Omar Hussain Alfardan, The Commercial Bank Board Director and Alternatif Bank Vice Chairman, said: “The fact that Alternatif Bank is now a hundred percent subsidiary of The Commercial Bank opens up opportunities for even greater collaboration and integration to ensure our businesses are aligned, create multiple synergies, and deliver benefits that will be felt by all of our stakeholders in Qatar and Turkey.”

“Alternatif Bank and Turkish economy are our future investment areas.”

Commenting further on the issue, Joseph Abraham, The Commercial Bank CEO, underlined that this investment, which started in 2013, demonstrated their confidence in the Turkish economy, banking industry, and their commitment to Alternatif Bank having a history of quarter of a century. He added: “Alternatif Bank is the third and the largest investment made by The Commercial Bank outside of Qatar. Our goal is to boost Alternatif Bank’s share within the consolidated figures by leveraging the potential of the Turkish economy, as well as capture a share of the increasingly growing investments and trade flows between Qatar and Turkey.”

“We are leaving Alternatif Bank in safe hands.”

Pointing to their harmonious partnership over the last 3 years since July 2013, Tuncay Özilhan, Anadolu Group Chairman, said: “Last July, we had disclosed our decision to transfer our remaining 25 stake in Alternatif Bank to The Commercial Bank. Following the approval of the regulatory authorities, this planned change was finalized and within the framework of the shareholders agreement signed 3 years ago, Alternatif Bank became a fully owned subsidiary of The Commercial Bank. In particular, thanks to their prestige in the international arena and their know-how, we experienced the positive results of the partnership we started with The Commercial Bank in 2013. Since the very first day of the initial share transfer, we have had a productive and successful cooperation with the valuable team of The Commercial Bank. We are now leaving Alternatif Bank in safe hands, which we built with great efforts. Throughout its operations, Alternatif Bank has always advanced with firm steps on its path and strived to achieve the mission it undertook despite the many changing dynamics in banking in both global and local sense. Moving forward, I believe that Alternatif Bank will continue to contribute in our national economy with its focused banking strategy and strong human capital.”

Expressing his wishes that the share transfer would be beneficial to all parties, Özilhan thanked The Commercial Bank top management for their rapport throughout their partnership.

“41-year old The Commercial Bank and 25-year-old Alternatif Bank”

Müge Öner, Alternatif Bank Acting CEO and Board Member, emphasized on the importance of the development as a major milestone for Alternatif Bank, and added: “As Alternatif Bank, we are now entirely a part of The Commercial Bank. This very share transfer is a concrete indicator of The Commercial Bank’s confidence in the Turkish economy and Alternatif Bank. Over the last few years, we experienced the clear benefits of being in the same family with an internationally reputable bank through syndication loan, subordinated loan and bond issue transactions. The international prestige we enjoyed thanks to The Commercial Bank made us proud. And these experiences are yet another indicator of the confidence in our bank.”

Noting that Alternatif Bank had been consolidated in The Commercial Bank’s balance sheet for the last 3 years, Öner continued: “The latest share transfer will not change our targets and strategy in any way. That being said, The Commercial Bank’s support to our bank will increasingly continue. It will continue to strengthen us even further in our sustainable growth journey. And the international reputation and vision of The Commercial Bank, which has left behind 41 years, will further whet Alternatif Bank’s appetite for sustainable growth.”

In the meantime, Alternatif Bank also inherited an important business culture and heritage based on one of the longest-established groups in Turkey, Anadolu Group, said Öner, adding: “It was thanks to this heritage that Alternatif Bank could maintain its robust structure throughout the challenging times in its 25 years of history and became what it is today.”

“Sustainable growth through Focused Banking strategy”

Öner also explained their targets, and said, “As Alternatif Bank, we made great strides with our growth strategy, or “’Focused Banking’, which encompassed a 3-year-long transformation process from 2015 to 2017, and we will achieve our sustainable growth target by advancing on this path,” expressing their desire to become the main bank of their customers in their areas of focus. In her statement, Öner said: “We believe that the business model we created based on this approach will naturally bring healthy asset growth and sustainable profitability. In the meantime, 2017 will mark our 25th anniversary. By the end of 2017, during which we will leave behind quarter of a century, we will start getting the clear results of our focused strategy. Transforming our customer relations in Corporate, Commercial, and Retail banking customers into a long-winded collaboration is a priority for us.”

Alternatif Bank Top Management and Customers Met at the Opening Event of “New Generation Branch”

October 3, 2016

Alternatif Bank Board members and top executives from The Commercial Bank (Q.S.C.), the majority shareholder, and Anadolu Group gathered with key business partners and customers at the opening cocktail of the bank’s next generation branch in Istanbul.

Alternatif Bank revealed the latest example of its new generation branch concept, which is one of the major components of its Focused Banking vision, at Istanbul Kozyatagi Branch.

New generation branch concept was created for corporate, commercial and retail customers to experience professional and one-to-one banking services in a modern environment. The concept highly diversifies from the perception of a conventional bank branch with its comfortable lounge areas, private consulting rooms, technological infrastructure and interior architectural features.

The new branch will operate at the entrance floor of AND Plaza, which is also hosting Alternatif Bank’s new Operation and Technology Centre. The opening cocktail of the branch received a high level of participation from important business partners of the bank, in addition to the board members and top executives including Chairman of Anadolu Group and Alternatif Bank Mr. Tuncay Ozilhan, Board Member of the majority shareholder The Commercial Bank (Q.S.C.) and Vice Chairman of Alternatif Bank Mr. Omar Alfardan, The Commercial Bank (Q.S.C.) CEO Mr. Joseph Abrahams, and Alternatif Bank ACEO Ms. Müge Oner.

Following the event Alternatif Bank ACEO Ms. Oner stated that, they will continue to implement the new generation concept to all branches, which is the reflection of their Focused Banking vision, in line with the expectations of customers and targets of Alternatif Bank.

Interest Rate Cut from Alternatif Bank

August 11, 2016

With continued support for the economy, Alternatif Bank cut mortgage loan interest rates to 0.89 percent.

Alternatif Bank reduced the 2-year maturity mortgage loan interest rate to 0.89 percent, down from 1.05 percent; and the 2-5-year maturity mortgage loan interest rate to 0.99 percent, down from 1.10 percent.

In a statement, Sezin Erken, Alternatif Bank Vice President, Retail Banking, said that the reason behind the decision is the aspirations to support uninterrupted growth in Turkey's economy. “We are one of the first banks to cut mortgage loan interest rates. We believe that the social solidarity we have today and the trust in the future come before anything else. This is also a reflection of our customer-focused banking vision,” he asserted.

Alternatif Bank Supports Solidarity

August 08, 2016

Alternatif Bank provided support to the fund drive initiated by the Ministry of Family and Social Policies upon commissioning by the Prime Ministry for the July 15, 2016 coup attempt veterans, martyrs, and their families.

We offer our condolences to the grieving families of the martyrs who lost their lives during this sordid and grave coup attempt. God have mercy on their souls. We also wish a speedy recovery to those injured, said the Bank in a statement.

“In order to show unity and somewhat ease the pain, Alternatif Bank decided to donate 1 million Turkish lira to the solidarity drive initiated by the Ministry of Family and Social Policies upon commissioning by the Prime Ministry for the July 15, 2016 coup attempt veterans, martyrs, and their families. Once again, Alternatif Bank vehemently condemns this grave attempt on our democracy, social peace, and stability. We are confident that the solidarity we have displayed during this challenging period will bring brighter days ahead within a very short time.”

Global Trust in Alternatif Bank

July 12, 2016

Alternatif Bank obtained a syndication loan worth $225 million with the participation of 18 banks from 12 countries. The banking and finance circles interpreted the loan as a display of trust both in Alternatif Bank and in the bank's principal shareholder The Commercial Bank (Q.S.C.), as well as in the Turkish banking industry.

Alternatif Bank strives to become the first choice solution partner for clients as part of its “focused banking” vision. The bank obtained a syndication loan worth $225 million with a one-year maturity. The loan was obtained in two different currencies: $110 million and €103.75 million with the terms of L+1.40% for the dollar and Euribor+1.30% for the euro currencies.

Alternatif Bank CEO Müge Öner defined the loan as an expression of the trust put in both Alternatif Bank and the Turkish banking industry, and stressed their determination to continue supporting the country's economic growth with the fund.

In a statement, Şakir Sömek, Alternatif Bank Vice President, International Financial Institutions, explained that 18 banks from 12 countries participated in the loan. “The transaction involved a wide geographical span, acting as a testament to our Bank's strong corresponding relationships in different regions. Strong support by our principal share holder The Commercial Bank (Q.S.C.) is evident with the 28-percent participation in the transaction from the Gulf Region. We intend to strengthen our current relationships with creditor banks, which are made up of our main corresponding banks. Our Bank enjoys a sound overseas borrowing position in the peer banks group, and in the second half of the year, we will continue to borrow, preferably in the long term, through foreign trade funds and one-on-one funding sources.”

Alternatif Bank Online Banking Revamped

July 12, 2016

Alternatif Bank strives to provide a personalized and privileged Retain Banking experience with its Focused Banking vision. As such, it has revamped the design and functionality of its online banking.

In the user-friendly Alternatif Bank online banking, you can perform main banking opeartions as well as many other transactions and services such as extended EFT periods and fixed EFT limit, bill payment and instruction by using the credit card, and combining online and mobile banking transaction limits.

AYatırım Moves On as AMenkul

April 19, 2016

AYatırım was founded as an Anadolu Grubu company and Alternatif Bank affiliate in 1997. The company will continue operations with under its new name, AMenkul, from April 19, 2016.

AMenkul has been offering intermediary services in capital markets for 19 years.

Discover Diners Club Card Privileges with Alternatif Bank

April 08, 2016

Alternatif Bank signed a cooperation deal with Diners Club, valid at millions of businesses in 185 countries throughout the world. The deal was made by Alternatif Bank, the only bank to offer Diners Club Card to customers in Turkey.

Diners Club Card is a prominent global brand in travel and dining. By bringing the card back to Turkey, Alternatif Bank aims to provide customers the utmost pleasure not only in restaurants but also during their travels anywhere in the world. Diners Club gives free access to more than 600 lounges it owns across the world. The Diners Club Card also provides countless privileges with its gift of a TAV Passport Card, and is seen as one of Alternatif Bank’s most important steps in its exclusive retain banking practices aimed at high-income customers.

SPECIAL PRODUCTS FOR HIGH-INCOME CUSTOMERS

Alternatif Bank CEO Müge Öner outlined one of Alternatif Bank’s priorities as offering personalized and banking-focused experience for its customers. Öner mentioned the new products they offer for the high-income group customers and added:

“We are delighted to be offering Diners Club Card in Turkey in collaboration with Diners Club International. With Alternatif Bank Diners Club Card, we will present services and privileges which we believe will add value to our customers' lives.”

JOIN, DISCOVER, LIVE

Sezin Erken, Vice President, Retail Banking, highlighted Diners Club Card as an important step in meeting the needs of its target retail banking audience. She said the high-prestige Alternatif Bank Diners Club Card is offered in Platinum and Black, providing privileges for customers during their travels and at restaurants. Erken went on to say,

“We are positioning Diners Club as a paramount product for our bank's prestige and for gaining new customers. Alternatif Bank will provide convenience for our customers and make sure that they enjoy every moment of their travels with Alternatif Bank Diners Club Card opportunities. As our slogan “Join, Discover, Live” says, joining Diners Club is the only thing customers have to do to discover the world and enjoy its wonders.”

Diane Offereins, Diners Club International President, Payment Services, expressed Diners Club aspirations to always offer the best for its customers.

“We are proud that Alternatif Bank will now be offering the Diners Club Card in Turkey, available for use in more than 30 million locations globally. One of the most noteworthy markets in the EMEA region, Turkey has also become a foremost center in the area. Diners Club Card customers frequently visit Turkey for both business and pleasure. By including Turkey within our service network, we aim to provide better support to our global customers, while creating a better structured customer base.”

ALTERNATIF BANK DINERS CLUB CARD’S WORLD OF ADVANTAGES

A myriad of Alternatif Bank Diners Club Card advantages include free use of more than 600 lounges across the world, unique opportunities with the TAV Passport Card, and a 25 percent discount at Turkey's prominent restaurants.

Some of Alternatif Bank Diners Club Card’s advantages and services:

  • Alternatif Bank Diners Club Cardholders, along with a guest, get free use of more than 600 lounges across the world.
  • Alternatif Bank Diners Club Black Card holders enjoy private security checkpoint at airports with TAV Passport Card, business class check-in, use of lounge, free vale/parking lot, discounted vehicle rental, as well as many other privileged services, which are available to Alternatif Bank Diners Club Platinum Card holder with a commitment to spend a certain amount.
  • Club Miles, Alternatif Bank Diners Club Card’s special miles program, offers tickets by using the miles earned within a desired period from the cardholders' choice of airlines.
  • Alternatif Bank Diners Club Cardholders and their guest get up to a 25 percent discount at Turkey's prominent restaurants.
  • Diners Club Platinum Card applications are done at the branches, whereas the Diners Club Black Card is offered through invitation.
  • Visit www.Alternatif Bankdinersclub.com for all the advantages and features of the Alternatif Bank Diners Club Card.

Alternatif Bank’s New Leader: Müge Öner

April 1, 2016

Müge Öner was appointed as Board Member at the Alternatif Bank General Assembly on March 31. On March 18, Müge Öner took over the flag after being appointed as CEO. She was previously appointed Deputy CEO, and had served as CFO since May 1, 2014.


TUNCAY ÖZİLHAN: “I BELIEVE THE SYNERGY CREATED BY THE NEW MANAGEMENT WILL TURN INTO NEW INSPIRING ACCOMPLISHMENTS.”

“I wholeheartedly believe that during Alternatif Bank’s drive for the future and stable growth, the synergy created together by Öner and the whole Alternatif Bank family will turn into new inspiring accomplishments and result in the highest added value for all shareholders,” said Alternatif Bank Chairman Tuncay Özilhan in his statement about Müge Öner’s appointment as Board Member.

OMAR H. ALFARDAN: “WE HAVE COMPLETE SUPPORT AND FAITH IN ALTERNATIF BANK MANAGEMENT.”

In his statement, Vice Chairman Omar H. Alfardan stressed Alternatif Bank Board of Directors’ complete support and faith in the senior management of the bank and added: “The Commercial Bank (Q.S.C.) regards Turkey as an attractive and crucial investment market. As the principal shareholder of Alternatif Bank in Turkey, our main focus is sustainable growth with an exclusive customer base. In order to reach this goal, we are prepared to provide all support, including capital increase.”

MÜGE ÖNER: “WE WILL CONTINUE TO GROW IN OUR FOCUS AREAS.”

Alternatif Bank CEO and Board Member Müge Öner said Alternatif Bank would continue to grow in its focus areas, and stressed how superior corporate and commercial banking services greatly contribute to customer satisfaction and growth. Öner emphasized their intention to expand the deposit portfolio through a retail banking strategy offering a personalized banking experience.

Müge Öner served in different positions in the banking and consultancy industries since 1996. From 2005 to 2014, she worked as Financial Services Officer at Ernst & Young. She took on the role as Assistant Manager, Financial Control and Planning and Deputy CEO at Alternatif Bank in 2014. She is married with two children.

Passing the Flag at Alternatif Bank

March 19, 2016

Alternatif Bank CEO and Board Member Meriç Uluşahin resigned her post on March 18, 2016. She had been serving at the bank since April 2014. The Alternatif Bank Board of Directors appointed Müge Öner as the Deputy CEO to take over the duties and responsibilities of Meriç Uluşahin. Ms. Öner previously served as the Assistant Manager, Financial Control and Planning.

Müge Öner served in different positions in the banking and consultancy industries since 1996. From 2005 to 2014, she worked as Financial Services Officer at Ernst & Young. She took on the role as Assistant Manager, Financial Control and Planning and Deputy CEO at Alternatif Bank in 2014. She is married with two children.

Announcement regarding 4.5G SIM Card Change

April 3, 2016

As of April 1, 2016, GSM operators will begin using the 4.5G mobile infrastructure for customers with compliant SIM card and devices.

During this time, in order for banking transactions to be in accordance with legal regulations, the single-use password that is sent via SMS to log into online and mobile banking may not work for customers who change their SIM cards with one that is compliant with 4.5G.

If the single-use password that is sent via SMS to log into online and mobile banking does not work:

  • Contact our Call Center at 444 00 55 or
  • Branches

to authorize a single-use password to be sent via SMS.

Other than the communication channels stated here, do not trust anyone who requests information from you while communicating via email, SMS, or telephone.
Best regards,

Fitch Confirms Alternatif Bank’s Rating

February12, 2016

International credit rating agency Fitch Ratings confirmed Alternatif Bank’s credit ratings. Alternatif Bank thereby maintained its standing among the banks with the highest rating in Turkey.

Fitch announced the rating bulletin on February 12, 2016, rating Alternatif Bank’s long-term credit rating in foreign currency as BBB, the same as the previous year, while scoring its outlook as stable. It also emphasized the strategic importance of Alternatif Bank’s for its princial shareholder, The Commercial Bank (Q.S.C.).

Alternatif Bank Achieves 23% Growth in Asset Size and 19% in Loan Volume

February 5, 2016

According to 2015 fourth quarter financial statements, Alternatif Bank outperformed the industry, increasing its asset size to 13.15 billion Turkish lira with a 23 percent rise and growing its loan volume by 19 percent.

Alternatif Bank announces financial statements dated December 31, 2015. According to the unconsolidated financial statements, Alternatif Bank outperformed the industry, increasing its asset size to 13.15 billion Turkish lira with a 23-percent rise and growing its loan volume by 19 percent. Alternatif Bank contributed to the economy to the tune of 9.34 billion Turkish lira through loans, achieving a 21-percent rise in total cash loan volume in commercial and corporate business branches. The bank announced 59.51 million Turkish lira year-end profits and 527 Turkish lira project financing in the same period.

On assessment of the 2015 financial statements, CEO Meriç Uluşahin pointed to the profound effects of conjectural fluctuations and announced the 23-percent rise in Alternatif Bank's assets in 2015. Uluşahin said that the bank contributed 9.3 billion Turkish lira to the Turkish economy through loans in the same period.

“‘Be the Best in its Class’ is Alternatif Bank's motto as part of our three-year plan from 2015 to 2017. Therefore, we forge ahead with aspirations to be the number one bank for everything customers need in our target industry and fields with expertise, speed, efficiency, strong infrastructure, and technology. In 2016, our main areas of growth will continue to be Corporate and Commercial Banking, which we have accomplished with a good momentum in loan volume through our focused banking vision, and Retail Banking, with which we will focus on the top income group. In addition, we plan to take big steps in mobile and online banking.”

Alternatif Bank Information Security and Quality Management Systems Receive International Recognition

January 15, 2016

Alternatif Bank has strengthened its IT infrastructure to bolster the “product, customer and industry-focused banking” strategy with aspiration to be the best in its class. Its Information Technology processes and practices were internationally recognized with the ISO 9001:2008 and ISO 27001:2013 certifications under an independent audit.

Alternatif Bank advances and reinforces its Information Technology processes and practices without compromising quality and data security as part of the “focused banking supported with operational excellence, speed, technological infrastructure and expert workforce” strategy. This international recognition is a crucial demonstration of this.

Alternatif Bank Information Security and Quality Management Systems Receive International Recognition

Pursuant to Article 24 of the Investor Compensation Center Regulation, custodies and receivables arising from investment services and operations, and supplementary services; as well as related interest, dividend, and other income that have not been claimed and collected shall expire in 10 years from the date on which the account holder performs the last claim transaction or gives a written instruction in any form, and shall be returned to the Investor Compensation Center.

Listed right owners that will reach the statute of limitation in 2017 are required to apply along with the documents and information to prove right ownership before the 10-year period ends. Otherwise, in accordance with the law, all custodies and receivables arising from expired investment services and operations, as well as related interest, dividend, and other income shall be returned to the Investor Compensation Center.

Accordingly, you can see the list of accounts and account holders that will reach the statute of limitation in 2017.

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