Alternatif Bank announced its financial results for the first quarter of 2025. According to consolidated figures, the Bank, having continued its successful performance by preserving its financial stability, had TRY 101 billion in assets and made a contribution of TRY 92 billion with cash and non-cash loans to the local economy. Consolidated net profit of Alternatif Bank realized as TRY 174 million as of the first quarter of the year.

According to the consolidated figures belonging to the first quarter of 2025, total asset size of Alternatif Bank reached TRY 101 billion by a 15% increase in comparison with 2024. The contribution, made by the Bank to the local economy through cash (including leading receivables) and non-cash loans during this period, realized as TRY 92 billion. The Bank’s equities exceeded TRY 7.5 billion, while its capital adequacy ratio reached 20.14%. In line with the successful performance displayed in the first quarter of 2025, Alternatif Bank’s consolidated net profit realized as TRY 174 million. 

Solid start to 2025

Alternatif Bank CEO Ozan Kırmızı commented on first quarter of 2025 financial results of the Bank and made the following remarks: “We made a solid start to 2025. We left behind a quarter, during which we continued to grow by maintaining our financial stability. Our total asset size reached TRY 101 billion. 16% increase in total loans played a major role in this growth. In addition, the strategic growth in retail loans, experienced as of the first half of 2024, contributed to this increase. Our retail loan volume grew by 266% and exceeded TRY 1 billion in comparison with March 2024. We maintained our high asset quality and performed an effective balance sheet management in the first quarter of the year. Thus, we proudly increased our support to the national economy to the level of TRY 92 billion with cash and non-cash loans. Thanks to the performance that we displayed in the first quarter of 2025, Alternatif Bank’s consolidated net profit realized as TRY 174 million. While we offered fast and effective solutions to the changing needs of our customers, we maintained our banking operations with responsible finance approach. Our goal will be to maintain our sustainable growth and increase our contribution to the national economy in upcoming periods.”

Strategic structuring in senior management

Ozan Kırmızı, mentioning that they, as Alternatif Bank, did not measure growth by only financial outcomes, continued his statement as follows: “Thanks to the organizational change that we underwent in the first quarter of 2025, we transitioned to a more agile, more effective, and more customer-oriented structure to prepare for banking of the future ahead of time. We strengthened our business models and created a construct that will increase our innovation capability. This step has reinforced Alternatif Bank’s transformation on its path to becoming an organization that adapts faster to dynamic market conditions and that provides more agile and effective response to customer expectations.” 

Strategic cooperation with Zurich Türkiye

Kırmızı, indicating that one of the strategic actions taken in the first quarter of 2025 was the cooperation in the field of insurance, stated his opinions about the agreement in question as follows: “Thanks to the long-term strategic agreement that we signed with Zurich Insurance, we started to offer a wider range of integrated financial solutions to our customers. I believe that this cooperation will not only reinforce the vision of Alternatif Bank to offer all-around service to its retail and corporate customers, but also contribute to sustainable growth of our Bank by increasing its service diversity.”

Innovation award received with VOV Account

VOV Account, the innovative product of Alternatif Bank that promotes savings, achieved a significant success by being awarded by Stevie Awards. VOV Deposit was deemed worthy of the bronze award in “Marketing Solution” category of USA-based Stevie Awards for Sales & Customer Service, one of the prestigious awards worldwide. Alternatif Bank CEO Ozan Kırmızı stated, “Our customer-oriented innovation culture continues to be appreciated in the international arena. Our innovative product VOV Account received the bronze award in “Marketing Solution” category by the world-renowned Stevie Awards for Sales & Customer Service organization. This achievement demonstrated once again the soundness of our digitalization and customer experience focused strategy. We make an important difference in the sector thanks to VOV Account, which offers a unique savings method by combining flexibility of drawing account with earnings of time deposit. While the number of our active customers increased by 52% as of March 2025 in comparison with November 2023, particularly for the VOV Account; our TRY demand deposit balance grew by 200% in the same period. We will continue to implement innovative projects that will add value to the financial sector and advance by focusing on fulfillment of customer expectations at an excellent level in the upcoming period.”

Ozan Kırmızı, finally made remarks about Turkish economy and stated “Our national economy demonstrated significant persistence by displaying a balanced performance despite challenging conditions in the first quarter of 2025. Economic stability was maintained thanks to the strength of domestic demand, diversification of exportation markets, and tight monetary policy implemented since the beginning of the year. Following the growth that realized at almost 3.2% in 2024, we are advancing with a more balanced and selective growth perspective into 2025. The transition of Türkiye to a growth model backed by exportation and investments started to show itself in the first quarter data. Increased contribution of net foreign demand to growth and balancing of credit growth gain prominence as substantial outcomes of this transformation.”