Alternatif Bank announced the financial results for the second quarter of 2024. Total assets of the Bank reached TRY 72 billion and net profit realized as TRY 738 million as of June 30, 2024. The support, provided by Alternatif Bank to the economy and its clients with cash and non-cash loans, increased to TRY 74 billion in the first half of the year. 

According to the consolidated figures belonging to the second quarter of 2024, total asset size of Alternatif Bank reached TRY 72 billion. The support, provided by Alternatif Bank to the local economy with cash (including leasing receivables) and non-cash loans during this period, increased to TRY 74 billion. While equities of the Bank reached TRY 6.9 billion, capital adequacy ratio for this period realized as 25.4%. Thanks to the successful performance displayed in the second quarter of 2024, Alternatif Bank’s consolidated net profit for the period realized as TRY 738 million. 

CEO Ozan Kırmızı evaluated the financial results of Alternatif Bank for the second quarter of 2024 and stated: “In the first half of 2024, during which important developments that impacted national and global economy have been experienced, we, as Alternatif Bank, fulfilled our responsibilities to our stakeholders and local economy, and continued to advance toward our goals with firm steps. We preserved our high asset quality and performed an effective balance sheet management in the first six months of the year.” 

“We are aiming to become the most efficient bank in Turkey with our superior digital experience” 

Kırmızı expressed that they reinforced the strong position of Alternatif Bank in Corporate and Commercial Banking with VOV Corporate Account product offered to their clients in the second quarter of 2024, and stated, “With a view to implement our digitalization studies in a holistic manner to all client segments, we extended our digital transformation activities, conducted on retail side, to the corporate side as well. In this context, we aim to expand our client portfolio by increasing diversity in our balance sheet thanks to our new product, VOV Corporate Account, offered to our clients. Thanks to our investments in this area and innovative products that we develop, we will continue to act in line with our strategy to ‘become the most efficient bank in Turkey with our superior digital experience”.

“We are continuing to strengthen our position in the sector in the field of foreign trade”

Kırmızı, also emphasized that Alternatif Bank mediated more than USD 1 billion of foreign trade volume in the first half of 2024 and continued: “We maintained our successful performance in the field of foreign trade, which we consider to be a strategic priority and which is one of the most strong aspects of our Bank. We were awarded once again by EBRD and IFC this year, on account of our contributions to the foreign trade volume of our country and our high transaction volumes. We have been cooperating with EBRD for many years, and it is a point of pride for our Bank to be the most active partner bank of EBRD in the field of foreign trade in Turkey with our limits. We are also glad to be deemed worthy of the ‘Best Business Partner Bank’ this year, thanks to the high SME transaction volumes achieved under IFC’s Foreign Trade Guarantee Program. We are aware of the importance of foreign trade for our national economy. In this context, we will continue to contribute to the development of our economy with our expertise in the field of foreign trade and the wide range of products offered to our clients."