Alternatif Bank announced its financial results for 2024. According to consolidated figures, the Bank had TRY 88 billion in assets and provided TRY 83 billion support with cash and non-cash loans to the local economy. Consolidated net profit of Alternatif Bank, having increased its deposit volume to TRY 37.5 billion, realized as TRY 496 million as of the year-end.

According to the consolidated figures belonging to 2024, total asset size of Alternatif Bank reached TRY 88 billion. Preserving its high asset quality and performing an effective balance sheet management in 2024, the Bank provided TRY 83 billion support to the local economy with cash (including leasing receivables) and non-cash loans during this period. Having reached a deposit volume of TRY 37.5 billion, Alternatif Bank increased its equity size to TRY 7.3 billion, while its capital adequacy ratio was 26.56% in this period. Thanks to the performance displayed in 2024, the Bank’s consolidated net profit realized as TRY 496 million. 

Alternatif Bank continues to growth with digitalization

CEO Ozan Kırmızı, commented on year-end financial results of the Bank and stated “We left behind 2024, which was a challenging year in financial terms, by taking important steps to reach our strategic goals as Alternatif Bank. We formed stronger bonds with our customers, particularly thanks to our customer-oriented approach and activities aimed at improving the digital experience. We displayed a flexible, fast-adapting, and solution-oriented approach as the Bank in the presence of challenging market conditions. We will continue to maintain our capital power and invest in innovative business models to display a more solid performance in the upcoming period.” 

Ozan Kırmızı, addressing the fact that they gained significant achievements in 2024 with the Digital Branch, which they developed to make banking more accessible, easier, and personalized for their customers, supported his statements with figures: “While we achieved 366% growth in VOV accounts, we reached growth rates of 466% in time deposit, 8,519% in retail loans, 23,583% in investment funds, and 2,646% in securities. As our total yield volume increased by 450% to TRY 4 billion, our gross revenues increased by 2,587% to TRY 135,5 million. In addition to these financial achievements, we observed a significant inrease in customer satisfaction feedbacks. Particularly our tailored service approach, fast feedback processes, and customer-focused approach significantly increased the satisfaction of our customers. These results clearly indicate that our Digital Branch displayed an extraordinary performance in 2024, achieved significant growth particularly in retail loans, investment funds, and deposit product, and our digitalization strategies were effective.”

Strong performance in commercial and corporate banking

Ozan Kırmızı emphasized that they reinforced the strong position of Alternatif Bank in Corporate and Commercial Banking with innovative products offered to their clients and stated, “We achieved great success with our VOV Corporate Account product that we launched in May 2024, and reached a volume of TRY 1 billion by the end of the year. We grew our cashier check volume, which used to be TRY 7 billion, by 200% to TRY 28 billion and we took our rank in the sector a step further. We combined our know-how in foreign trade financing with our financing capacity and once again we focused on growing together and creating mutual value with our customers in 2024. Accordingly, we supported leading foreign trade companies in our company and provided financing to major projects. We intermediated almost USD 4 billion foreign trade volume in 2024. In acknowledgment of our activities, we were deemed worthy of the ‘Best Business Partner Bank’ thanks to the high SME transaction volumes that we achieved under IFC’s Foreign Trade Guarantee Program. In addition, having received the 'Most Active User in Türkiye' award for the seventh time and the ‘Green Transaction of the Year’ award for the second time in a row from EBRD reinforced our leadership in foreign trade and sustainability oriented approach in the international arena.” 

Türkiye’s best in diversity and inclusion

Ozan Kırmızı expressed that their determined activities in the field of Accessible Banking were appreciated also in the international arena and continued: “We received the "Best Bank for Diversity and Inclusion in Türkiye" award in 2024 Awards of Excellence, organized by Euromoney, one of the leading banking and finance publications worldwide, based in London. This award, received from this prestigious organization with a deep-rooted history dating back 56 years, was a solid confirmation for our leadership and pioneering approach in the field of diversity and financial inclusion. We will continue to launch projects that set examples with our Accessible Banking activities, with which we are pioneering a change of mindset in Turkish banking sector.”