Press Releases and Announcements
Alternatif Bank Increased Its Assets to TRY 39.7 Billion
Alternatif Bank met its growth targets in the first quarter of a year still marked by the pandemic. According to its consolidated figures, the Bank increased its assets by 8% compared to the end of last year, reaching TRY 39.7 billion. The contribution provided to the economy through cash and non-cash loans realized as TRY 32.3 billion.
Alternatif Bank’s assets are up 8% from 2020 year-end, reaching TRY 39.7 billion on a consolidated basis at the end of the first quarter of 2021. The Bank’s total contribution to the economy through cash (including financial lease receivables) and non-cash loans in the first three months of the year is TRY 32.3 billion. Its deposit volume increased by 5% to TRY 19.2 billion. Increasing its capital by TRY 175 million, Alternatif Bank continued to make its resources available to the real economy. Meanwhile, it added Tier 1 additional capital of USD 200 million to its original capital in the first quarter, expanding its loaning capacity. By increasing its equity by 4% to TRY 2.5 billion compared to the end of the previous year, the Bank was able to maintain a capital adequacy ratio of over 24% and thereby outperform other banks.
Regarding the financial figures, Alternatif Bank CEO Kaan Gür said: “We have completed the first quarter of the year in line with our growth targets, which saw attempts to address the economic impact of the pandemic in the face of volatile market dynamics. Like the previous year, our priority was to stand by our clients in difficult times while ensuring the wellbeing of our employees. In the spirit of our prudent and caring banking practices, we have continued to support the real sector via cash and non-cash loans. In the meantime, we have posted a stable performance, maintaining the quality of our assets by continuing to keep our non-performing loan ratio low this quarter, having lowered it below the industry average last year. This quarter was also a period which we started to see the results of our steps in expanding our deposit base, which we pay a great importance. We have been realizing important investments in our digital channels and IT infrastructure, especially in remote customer acquisition, which will carry Alternatif Bank to its future targets.”'
“This quarter also saw increased investment in our human capital, whom we consider Alternatif Bank’s most valuable asset,” Kaan Gür added. “We know that customer satisfaction and a faultless customer experience can only be achieved with a happy and supported workforce. That’s why we continue to invest in the wellbeing and self-development of Alternatif Bank employees across a broad spectrum from remote working arrangements to social activities, from technical training to career planning and leadership training.”
“In the first quarter of the year, the support and commitment of our shareholder Commercial Bank is the main source of our positive outlook towards the future in these challenging times. Our shareholder has reaffirmed its confidence in Alternatif Bank and the Turkish economy with a cash capital increase of TRY 175 million, as per prior plans. By this way, we have sourced 225 million dollars out of our 300-million-dollar capital increase target for 2023 which we agreed on with our shareholders, and now we continue to move towards with firm steps achieving our growth targets without compromising on our asset quality or risk management.”