Press Releases and Announcements

Alternatif Bank continues to contribute to the Turkish economy

09 August 2021

Alternatif Bank announces its financial results for the end of the second quarter of 2021. According to the consolidated figures, the Bank’s current assets are worth TL 37.3 billion and TL 34.1 billion worth of loans (both cash and non-cash) were disbursed to support the economy.

According to the consolidated figures for the second quarter of the year, the total asset size of Alternatif Bank stood at TL 37.3 billion. The Bank’s contribution to the economy through cash (including financial lease receivables) and non-cash loans increased by 6.4% compared to the end of last year and reached TL 34.1 billion. Alternatif Bank increased its deposit volume by 7.7% to TL 19.7 billion, and its equity levels reached TL 2.5 billion.   

Expressing his views on the quarterly results, Alternatif Bank CEO Kaan Gür said, “We achieved most of our targets during the second quarter of the year, still marked by an economic slowdown despite progress with the vaccination program. Increasing our support for the real economy through cash and non-cash loans as well as TL Commercial loans, we continued to support our customer’s access to funds and thus the economy. During this period we successfully expanded our customer base and deposit volume in line with our retail banking targets by investing in our digital channels and technology. Compared to the end of last year, we achieved a significant growth of 12% in the volume of TL savings deposits. While the rate of account openings through digital channels increased significantly and exceeded 30% during the same period. On the other hand, we completed our development process related to video call infrastructure, bringing an innovative approach to the sector. Achieving another critical milestone, we will move forward faster and more confident towards our new customer acquisition goals. We will continue our investments without slackening our Bank’s digital transformation journey.”

“During this period, Alternatif Bank delivered an outstanding performance in the foreign trade market, which is critical for the sustainable growth of the Turkish economy. In the first half of 2021, our financed export volume increased by 27% to USD 700 million compared to the same period of the previous year, which is in line with our top strategy aimed at export-oriented growth. In the same period, our total volume of foreign trade transactions increased by about 30% compared to the previous year and reached USD 1.8 billion. We are continuing this trend with a significant momentum of growth in this field. Additionally, as recognition for our foreign trade-oriented growth strategy, we have been proudly awarded the ‘Most Active User in Turkey’ award for the fourth consecutive year as part of EBRD’s ‘Foreign Trade Program’, which we joined in 2017. 

As always, without compromising our belief in Insightful and Advisory Banking, we continue to carry Alternatif Bank into the future in line with our targets. Undoubtedly, it has been the trust of our shareholder, Commercial Bank in our Bank and its support through planned capital increases that has allowed us to focus on our growth targets during this period. It is based on this mutual faith and trust that we will continue to create value for our customers, the sector and the national economy,” added Kaan Gür.

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