Akbank provided 990 billion TL of funding to the Turkish economy

Akbank

In the second quarter of the year, Akbank achieved a net profit of 20.3 billion TL. Akbank’s CEO, Hakan Binbaşgil, stated, “In the first half of 2023, we increased our credit support to the economy to a total of 990 billion TL, of which 782 billion TL was in cash.”

In the second quarter, Akbank achieved a net profit of 20.3 billion TL, surpassing the market expectation of 17.2 billion TL. In the first half of the year, the bank announced a consolidated net profit of 31.018 billion TL.

Akbank’s CEO, Hakan Binbaşgil, noted that despite the negative impacts of the earthquake, the Turkish economy maintained a stable growth trend in the first half of 2023. He emphasized that the Turkish banking sector continues to support Turkey’s sustainable growth.

Binbaşgil stated, “In the first half of 2023, we increased our credit support to the economy to a total of 990 billion TL, of which 782 billion TL was in cash. Our total deposits reached 1 trillion 6 billion TL, and our assets reached 1 trillion 527 billion TL. With a strong consolidated capital adequacy ratio of 19.3%, we continued to support the growth and development of the real sector. Our bank achieved a consolidated net profit of 31.018 billion TL.”

He highlighted that they experienced a net active customer base growth of over 1 million in the first half of the year, reaching a total increase of 3.6 million in the last 1.5 years. This remarkable growth had a significant impact on their income generation and market share gains. The bank has been making significant investments in technology for a long time.

With their vision of the future of banking, these investments have led them to possess applications and technologies that go beyond international standards in digitalization, design, advanced analytics, and infrastructure. Binbaşgil attributed the successful results to the vision of their team, who implemented and pushed forward this vision every day. He expressed his belief that the positive trend will continue in the coming years and thanked their colleagues and all stakeholders, especially their customers, for their trust and support in their successful performance in the first half of the year.

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