Press Releases and Announcements

Alternatif Bank Increases Deposit Volume, Contributing Greatly to Turkey’s Economy

02 November 2021

Alternatif Bank has recently announced the financial results for the third quarter of 2021. The Bank’s total assets reached TRY 38 billion on a consolidated basis. Alternatif Bank contributed TRY 33.7 billion to the economy in cash and non-cash loans and increased its deposit volume to TRY 20.3 billion.

In the third quarter of 2021, Alternatif Bank’s total assets reached TRY 38 billion on a consolidated basis. The Bank contributed TRY 33.7 million to the economy through cash (including finance lease receivables) and non-cash loans, and its total deposit volume increased to TRY 20.3 billion, up 11% from the year-end. Moreover, Alternatif Bank’s capital adequacy ratio exceeded 16% and net profits reached TRY 38.2 million on a consolidated basis.

Commenting on the third quarter financial results, Alternatif Bank CEO Kaan Gür said, “Despite growing vaccination rates, the economic impacts of the pandemic still prevail as new variants have continued to emerge and yet we have successfully left behind a tumultuous third quarter in line with our targets. With our ‘Insightful and Advisory Banking’ approach, we have continued to deliver financing for our customers, contributing to the economy in these challenging times. We have also expanded our support for the real economy through cash and non-cash loans, especially in TRY commercial loan facilities. Thanks to our digital channel and technology investments, we have made considerable progress in line with our retail banking growth strategy. We have integrated video banking services into our customer onboarding process, which has proven to substantially increase our customer acquisition rates. With the help of these innovative solutions, our remote onboarding experience now takes less than 10 minutes. What’s more, we also offer this experience in sign language for our hearing-impaired customers as part of our accessible banking approach. We also supported this process with a new communications campaign for VOV Account, which offers maximum savings to our customers. This way, we were able to strongly grow our customer base and deposit volume in the retail segment. Our efforts paid off and our TRY savings deposits increased substantially in the third quarter, up 22% from the year-end. Today, more than half of our new customers are acquired via video banking. We are committed to making a difference for our customers through our continuous investments in our Bank’s digital transformation journey.”

Kaan Gür also said, “In the third quarter, Alternatif Bank preserved its robust position in trade financing, which is another important growth area for us. As part of our export-oriented growth strategy, our Bank’s export finance volume increased by 27% year-over-year in the first 9 months of 2021, reaching USD 1.2 billion. Our total trade finance volume is USD 2.7 billion for the same period, up 26% year-over-year. With such powerful figures in trade finance, we are going strong on our path toward our objectives. In addition to our ongoing support for exporters, we introduced our ‘Exporter Empowerment Package’ in September for small and medium-sized enterprises which have set out to grow their exports, offering them both banking and non-banking advantages. This way, exporters can enjoy various banking advantages, including exclusive access to financing. Based on our ‘advisory banking’ approach, we also provide training to customers who wish to expand their businesses to new exporting markets on diverse topics such as market research, balance sheet management, financial analysis and trade finance regulations, as well as foreign language support for business. On the other hand, we continue our support for professional women, who with their entrepreneurial spirit and managerial capabilities are vital for Turkey’s economic development. As part of our Professional Women Empowerment Package, we have provided TRY 186 million of funding to women leaders so far. Hopefully, we will increase and diversify our efforts to support professional women by forming new business partnerships in the future.

As Alternatif Bank, we are moving forward on our journey to the future always building upon our ‘Insightful and Advisory Banking’ approach. Especially in these challenging times, our shareholder Commercial Bank’s active support continues to be a driving force for us, encouraging us to focus on our growth targets. As always, we will continue to create value for all our customers, for the entire industry and for our nation’s economy.”

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