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TIM and Alternatif Bank Sign a Cooperation Protocol

TIM and Alternatif Bank Sign a Cooperation Protocol

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.”

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