Press Releases and Announcements
Alternatif Bank’s loan volume increased by 16.1% in the first half of the year
The Bank completed the second quarter of the year in line with targets despite the intensive impacts of the pandemic. Assets reached 33.5 Billion TL with an increase of 11% on a year-on-year basis according to consolidated figures. The contribution provided to the economy through cash and non-cash loans realized as 30.3 Billion TL.
Alternatif Bank boosted its asset size to 33.5 Billion TL with an increase of 11% compared to 2019 year-end according to consolidated figures in the second quarter. At the end of the first six months, the contribution provided by the bank to the economy through cash (including financial leasing receivables) and non-cash loans reached 30.3 Billion TL while deposit volumes reached approximately 18.1 Billion TL. The capital adequacy ratio of Alternatif Bank which preserved its strong capital structure, outperformed the sector and realized as 18%. While the bank’s equity increased by 20% compared to year-end, the consolidated net profit realized as 74.6 Million TL.
Alternatif Bank CEO Mr. Kaan Gür assessed the financial results and remarked, “We are pleased to successfully leave behind the second quarter in line with our targets despite the pandemic which affected us all on a corporate and individual scale. We prioritized the health and wellbeing of our employees and customers and continued our works during these extraordinary times. We accelerated our steps towards normalisation and put crucial projects into practice. We have gradually started going back to our offices with the new measures that are put in motion in the sense of hygiene, architecture and work environment. Moreover, we have initiated a hybrid work structure named AlterFlex which comprises office and remote working. We continued to support our customers through the loans we offered during such trying times. Compared to the last year-end, the 20% increase observed in the cash and non-cash loans we offered, clearly demonstrates the importance we attach to this topic.
We experienced significant development in foreign trade which is one of the critical focal points of our bank. Observing the last two years, the loan support we provided to exporters reached 840 Million Dollars from 430 Million Dollars in the second quarter of the year. Our support continued to grow in March, April and May when the impacts of the pandemic were felt most intensely. Besides loan support, we focus on simplifying the work of our export customers with our specialized foreign trade team and on increasing our service quality. We are proud to have our works crowned with important rewards. Our Bank was found worthy of 3 different awards in scope of the Foreign Trade Programs of IFC and EBRD as it continuously increased its program facilitation limits that were actively contributed to the economy. We received the “Best Partner Bank in Europe and Central Asia” and “Best Trade Operations Bank Partner” from the IFC and the “Most Active Issuing Bank in Turkey” from the EBRD. The strong relations we establish with supra-nationals carry great significance in the sense that they reconfirm our success in foreign trade and the confidence placed in our bank.
Gür completed his speech with the following statement; “We continued investing in technology related to our specialized digital services along with the support we offer. We put into place our MobilNext application that reduces customer acquisition processes down to only 9 minutes and ensures defining a customer through the application during customer visits without the need for customers to even come to our branches.
We shall continue our journey of growth by effectively managing risk factors in the markets depending on the evolution of the pandemic and bolster the support provided to our customers besides implementing the same effort and sensitivity in the remainder of the year. We will continue to create added value to our country and all our stakeholders with our insightful and advisory banking approach, strong capital structure and experienced executive leadership.”