Alternatif Bank hits 24% growth in 2018
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.”