Press Releases and Announcements

Alternatif Bank Increases Credit Volume By 7.6% In The First Quarter

29 May 2020

Alternatif Bank completed the first quarter of the year in line with its objectives. On a consolidated basis, the Bank increased its assets to TRY 32.6 billion, 8% up from the year-end. The Bank’s support to the economy through cash and non-cash loans reached TRY 28.2 billion. With a capital increase of TRY 307.7 million, Alternatif Bank has continued to inject funds into the real economy.

Alternatif Bank’s assets are up 8% from 2019 year-end, reaching TRY 32.6 billion on a consolidated basis at the end of the first quarter. The Bank’s total contribution to the economy through cash (including finance lease receivables) and non-cash loans in the first three months of the year is TRY 28.2 billion, while its deposit volume reached TRY 16.2 billion. Preserving its robust capital structure during this period, Alternatif Bank’s capital adequacy ratio surpassed 18%, higher than the industry average. The Bank’s consolidated net profits reached TRY 40.3 million.

Regarding the financial figures, Alternatif Bank CEO Kaan Gür said, “Due to the pandemic, we, together with the whole world, have been going through a process that we had never witnessed before. Our top priority is to protect the health of our employees and of society and continue providing non-stop banking services. We took immediate actions to start implementing a remote working model in 96% of our Head Office and %60 of our branches. We ensured that our 65+ and disabled customers marked within the prioritised risky group access their relationship managers directly upon contacting our Customer Communication Centre. We introduced our internet and mobile banking channels, which were renewed as part of our digital transformation investments, to our customers. By offering diverse products and services including Cash Management, Supplier Financing System, e-signature and e-letter of guarantee, we have put emphasis on offering our customers the funds they need and facilitating their business procedures.

 As Alternatif Bank, we are driving all our efforts toward standing by our employees and customers in these challenging times. We continue supporting our economy by offering our customers access to funds, and responding to their loan and restructuring requests in an expeditious manner. Almost 8% increase in our lending and assets from the year-end is the very proof of our endeavours. Also in this period, our shareholders’ equity increased by 17% from the year-end. Moreover, our most recent capital finalised by our Commercial Bank during the pandemic has proven to be a concrete indicator of our shareholder’s trust in Alternatif Bank and the Turkish economy, and contributed considerably to our resources.

For the coming periods, we will increase our efforts, sensitivity and support for our customers and walk alongside them as their companion. With our insightful and advisory banking approach, robust capital structure, expert people, and strong and competent Board of Directors, we will always continue adding value to our country, to the greater region and all of our stakeholders.”

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