ING Turkey’s total deposits approached 100 billion lira

ING Turkey

ING Turkey provided a total of 96.9 billion lira in credit during the first half of the year, with 82.4 billion lira in cash. The bank’s total deposits approached 100 billion lira.

ING Turkey announced its consolidated financial results for the first half of 2023.

During this period, ING Turkey’s consolidated total assets amounted to 149.2 billion lira, and its capital adequacy ratio reached 17.3%. The pre-tax profit was 1.4 billion lira.

The bank’s total equity was 15 billion lira, and its deposits reached 93.8 billion lira. ING Turkey’s credit support to the country’s economy amounted to a total of 96.9 billion lira, with 82.4 billion lira provided in cash.

ING Türkiye’s General Manager, Alper Gökgöz, expressed that they are making progress in digital leadership and sustainability goals while demonstrating a solid financial performance in their financial statements.

Gökgöz stated, “In line with this, we have achieved a 40% increase in deposits and a 38% increase in total assets by the end of the year. Additionally, we increased our credit support to the country’s economy by 21% compared to the end of the year.”

Gökgöz emphasized that the financial sector plays a transformative role in creating a sustainable world, and as ING, they view sustainability not just as numerical targets but as a way of doing business.

The ING Turkey executive continued, “With this vision, we prioritize sustainable financing and progress with a net-zero carbon target in our own operations. Leveraging the experience and global network of our group, we support our customers in accessing green finance.

In this context, ING served as a consultant during the preparation and publication process of the Sustainable Finance Framework Document, prepared by the Turkish Ministry of Treasury and Finance, for the issuance of debt in the international Environmental, Social, and Governance (ESG) bond market.”

332 million euros syndicated loan

Under this Framework Document, the first Eurobond issuance was successfully carried out in April 2023. Additionally, we are pleased to announce that we have successfully renewed the sustainability-linked syndicated loan for a total amount of 332 million euros, equivalent to 112%. We believe that the resources obtained through this transaction, which will be used in financing foreign trade, will contribute significantly to both our customers and the country’s economy.”

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