Alternatif Bank announced the financial results for the third quarter of 2024. Total assets of the Bank reached TRY 81 billion and net profit realized as TRY 660 million according to consolidated figures. The support, provided by Alternatif Bank to the local economy with cash and non-cash loans in the first 9 months of the year, increased to TRY 77 billion.

According to the consolidated figures belonging to the third quarter of 2024, total asset size of Alternatif Bank reached TRY 81 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 77 billion. While equities of the Bank reached TRY 7 billion, capital adequacy ratio for this period realized as 24%. Thanks to the performance displayed in the third quarter of 2024, Alternatif Bank’s consolidated net profit for the period realized as TRY 660 million. 

CEO Ozan Kırmızı evaluated the financial results of Alternatif Bank for the third quarter of 2024 and stated: “In this quarter, during which important developments that impacted both global economy and our local economy were experienced, our Bank continued to operate with the mission of creating value for our employees, clients, stakeholders, and country. We preserved our high asset quality and performed an effective balance sheet management in the first nine months of the year.” 

“Operating volume of our digital branch reached TRY 4 billion”

Ozan Kırmızı expressed that they maintained their operations without interruption to ensure an effortless customer experience with digital solutions that facilitate banking applications for everyone, and continued his remarks as follows: “As Alternatif Bank, we continue to expand our customer base with a strong growth in digital and retail banking. Accordingly, we recently celebrated the 1st anniversary of our Digital Branch, which we deployed last year and where we combine digital banking services with human touch. The key factor that carries us forward in competition is that we assign a specialist ‘Portfolio Manager’ to all customers transferred from video call, without any lower limit prerequisite. Thanks to our service model, under which we combined the convenience of digital banking with human touch, we have reached TRY 4 billion operating volume. When it first started, our Digital Branch lagged behind all branches in terms of operational scale. However, it quickly rose to prominence and achieved leadership in the individual segment in a very short time .”   

Kırmızı indicated that they maintained their activities in the field of ‘digital transformation’, which has a key position among strategic priorities that they established at the beginning of the year, in the last quarter that we left behind, stated “Our instant loan application for non-clients, which we engaged in September, has become one of the driving powers of our growth on consumer loan side. In addition, we compose almost 45% of total consumer loan balance from pre-approved limits thanks to the pre-approved limit automation that has been engaged in this quarter. All of these revealed once again that we progressed in line with our strategy that we established at the beginning of the year.”

“We have been selected as the Best Bank for Diversity and Inclusion in Turkey”

Kırmızı expressed that they paid attention to have Accessible Banking activities, which were gradually identified with Alternatif Bank in Turkish banking sector, serve financial inclusion and stated: “We focus on the social aspect of sustainability and its principles specific to ‘financial inclusion’, and continue to create difference in this area as well. We were selected the ‘Best Bank for Diversity and Inclusion in Turkey’ in 2024 Awards of Excellence, organized by Euromoney, one of the leading banking and finance publications worldwide, thanks to our successful projects conducted in accessible banking and financial inclusion fields. This prestigious award is an indicator of international appreciation for determined work of our Bank in the field of accessible banking. I thank all personnel and stakeholders that contributed to the granting of this prominent award to Alternatif Bank. This meaningful reward, which I believe to represent a reflection of our determination and pioneering approach in terms of diversity and financial inclusion, is very valuable for us, as the Bank. I sincerely believe that this proud success will be a source of motivation for our Bank and empower us to achieve our future goals.” He stated.