Alternatif Bank announced its Q3 2022 financial results. According to the consolidated figures, assets of the bank, maintaining its stable performance, was TRY 66 billion, while it provided TRY 53 billion support to the economy with cash and non-cash loans. Consolidated net period profit of Alternatif Bank, having raised its deposit volume to TRY 37 billion, was realized as TRY 582 million.

Total asset size of Alternatif Bank reached TRY 66 billion in Q3 2022, growing by 31% in comparison with year-end 2021, according to the consolidated figures. As of the end of this period, the support provided by the Bank to the domestic economy with cash (including leasing receivables) and non-cash loans displayed a year-on-year growth by 27% to TRY 53 billion. Alternatif Bank, having grown its deposit volume by 36% to TRY 37 billion, continued to preserve its asset quality besides the improvement in its balance sheet. Shareholders’ equity of the Bank reached TRY 3.4 billion and capital adequacy ratio for the period was 21.48%. Consolidated net period profit of Alternatif Bank, displaying a successful performance in the first 9 months of 2022, was TRY 582 million.

“We are exceeding our targets with prudent and solid steps” 

CEO Kaan Gür evaluated end-of-period financial results of Alternatif Bank and stated, “We have successfully left behind Q3 2022 among ongoing global uncertainties. While we maintained our steady performance in our balance sheet, we also continued our asset quality in this period. In addition, we continued our improvement in our TRY deposit volume, on which we place great emphasis, and achieved 105% growth in comparison with the previous year-end. Thus, we have reached necessary proportional thresholds within the scope of liraization strategy of the CBRT. We will continue to add value to all of our stakeholders, particularly our customers, and the economy of our country with our ‘Insight and Advisor Banking’ approach.”

“We combine digital perspective with human touch”

Kaan Gür expressed that the strategy adopted, and activities conducted in the field of digital banking played an important role in the successful performance of Alternatif Bank and continued: “We position digitalization at the center of the total experience that we offer to our customers. Our purpose is to offer a flawless experience to our customers with a digital banking perspective that touches upon people and an approach based on rights. We reap the rewards of all our works primarily as customer satisfaction, accompanied by the number of customers and growth in deposits. In this scope, 65% of our new customers, who joined us as of the end of third quarter, came from digital channels. Likewise, the number of accounts opened through our digital channels increased by 178% in comparison with the end of 2021, while our deposit volume in accounts opened through these channels increased by 245%. During this quarter, we continued our activities in the field of Accessible Banking without interruption along with the financial performance that we displayed. Accordingly, we launched our ‘Visual Banking Terms Glossary for the Disabled’, which we expect to have a significant impact, particularly in terms of financial inclusion. As Alternatif Bank, with the ‘Responsible Banking’ principle that focuses on people, we will continue to progress towards our long-term growth targets with the trust of our shareholder Commercial Bank, support of our Board of Directors, and devotion of our competent employees in the future.”