Alternatif Bank’s Increases Assets By 21% YoY In Q1 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.”