Press Releases and Announcements
Alternatif Bank’s Credit Volume Is Up by 24% In The First Three Quarters
Alternatif Bank completed the third quarter of the new normal period in line with its targets. The Bank increased its consolidated assets by 18% to TRY 35.5 billion from the year-end. Its contribution to the economy reached TRY 31.7 billion with 24% increase in cash and non-cash loans.
In the first nine months of the year, Alternatif Bank increased its consolidated total assets by 18% to TRY 35.5 billion from 2019 year-end. The Bank’s total contribution to the economy through cash loans (including finance lease receivables) and non-cash loans reached TRY 31.7 billion. Its deposit volume increased by 17% to TRY 18.6 billion. Preserving its robust capital structure during this period as well, Alternatif Bank boosted its capital adequacy ratio to over 20%, above industry average. The Bank’s shareholder’s equity increased by 22% from the year-end and net profits reached TRY 107.1 million on a consolidated basis.
Commenting on the Bank’s financials, Alternatif Bank CEO Kaan Gür said, “As the pandemic carries on its impact, we have managed to adapt the new normal quickly and left behind a successful third quarter. Our Bank has seamlessly maintained its services with its technical infrastructure and ever-growing digital products and solutions. We started implementing various projects to adapt to the dynamics of our day including AlterFlex, our flexible and remote hybrid working model which has been greatly favoured by our employees.
The primary mission of our Bank is to assist its stakeholders on their growth journey. As part of this mission, we have paid ultimate attention to respond to the loan and restructuring applications of our customers expeditiously in these challenging times. We have approved all COVID-19 related restructuring applications submitted to our Bank. In the meantime, we have boosted our cash and non-cash loans by 24% from the year-end. I believe that this increase clearly shows the importance we attach to the matter at hand. During this period, we also launched digital transformation projects to offer a top-level customer experience and save our customers’ time. In this context, we minimised Alternatif Bank’s customer onboarding process to below 10 minutes and provided instant access for our internet/mobile banking and debit card products.”
Gür also noted: “We shared our Accessible Banking model, a significant reflection of our corporate culture, with the public in the third quarter. As a result of our efforts for the last one and a half years, we developed a business model through which customers from all walks of life including disabled people, pregnant women and the elderly can access our banking services equally and easily, and we set a long-term target for our Bank to become an exemplary institution in Accessible Banking. We will continue our efforts for the development of our employees in this area and improve the accessibility of our service channels.
In addition to these achievements, we have also received many awards, which motivates us to do even better. With the extensive projects we have put into practice since the outbreak, we received three important awards including the ‘Most Exemplary Employer’ and ‘Company of the Year’ at the Stevie Awards for Great Employers 2020 and Stevie International Business Awards, which are among the world’s prestigious business awards. Having said that, I would like to emphasize that the greatest award for us is to earn the compliments and satisfaction of our customers. Therefore, we carry on our efforts to this end with utmost care. By observing the course of the pandemic in the final quarter of the year, we will continue our growth journey together through effective management of risk factors in the markets and by increasing our efforts, sensitivity and support for our customers. We will carry on our efforts to create value for our stakeholders with our insightful and advisory banking approach.”