Kuveyt Türk, Turkey's leading participation finance institution, held its general assembly meeting for 2023 with the participation of senior management and shareholders. In the general meeting where the financial results of 2022 and the information on the performance and financial statements were shared with the shareholders, the expectations and targets for 2023 were conveyed in line with the 2025 strategy. At the general assembly, it was decided to distribute 1 billion 400 million TRY from the profits of 2022 to the shareholders in the form of cash dividends at the rate of their shares.
Kuveyt Türk, which has been serving its customers for more than 30 years with its innovative products and services developed in line with the participation finance principles, is taking firm steps towards its goals in line with the 2025 strategy it has prepared by focusing on customer experience and satisfaction. In this direction, Kuveyt Türk, after holding the ordinary general assembly meeting for 2023 with the participation of the senior management and the shareholder, shared both the financial performance and progress for 2022 and the most up-to-date information about the financial statements with its shareholders. At the general meeting, Kuveyt Türk decided to distribute the 1 billion 400 million TRY allocated from the profits to the shareholders in the form of cash dividends at the rate of their shares.
At the General Assembly, information on Kuveyt Türk's financial statements was also shared. While the total net asset value of funds of Kuveyt Türk, which made a net profit of 14 billion TRY in 2022, reached 301.5 billion TRY with an increase of 42% compared to 2021, its value increased by 60% to 197.6 billion TRY. At the end of 2022, Kuveyt Türk, which raised its equity to 28.7 billion TRY and its asset size to 384.6 billion TRY, maintained its 10th place in the banking sector in terms of asset size and strengthened its first place among participation finance institutions.
“We will continue to contribute with all our strength to heal the wounds of the disaster”
Ufuk Uyan, General Manager of Kuveyt Türk, who conveyed his views at the general assembly meeting in 2023, said, "While we started 2023 with hope, the earthquakes that occurred on Monday, February 6, 2023 in Kahramanmaraş Pazarcık and Elbistan led us all to deep sadness and grief. We wish mercy to our citizens who lost their lives in the earthquake disaster that caused destruction in 11 provinces, condolences to their relatives and our nation, and urgent healing to our wounded. In order to contribute to healing the wounds of our nation, our main partner Kuwait Finance House and Kuveyt Türk Finance Group contributed a total of 409 million TRY, 200 million TRY of which is to AFAD. From the first moment of the earthquake, we acted together with AFAD, Turkish Red Crescent and Turkish Scouting Federation to deliver our in-kind and cash aid to the affected regions. In addition, we provide conveniences in debt payments and financing processes of people and institutions affected by earthquakes all over the country. We will continue our contributions with all our strength to heal the wounds of the disaster. We will overcome this difficult process together.”
Kuveyt Türk distributed 1.4 billion TRY of its net profit to shareholders
Ufuk Uyan also said, “While the global economy partially recovered from the devastating effects of the pandemic in 2022, the new shocks brought many new problems to the agenda of developed and developing economies. In addition to rising energy costs, the pressure on food prices has led to historic peaks in inflation and tough and sharp decisions by policymakers. In this period when the risks are rising at an unpredictable level, we focused on increasing the value we produce for all our stakeholders and the country's economy in our sphere of influence. As in 2022, we will take important initiatives in the fields of environmental, social and governance in 2023. In line with our 2025 strategy, we will continue to offer innovative products and services to our customers in 2023. With our strong capital structure and dynamic corporate governance approach, we will continue to take steps that add value to the accumulation of our shareholders. We would like to thank all our employees who have worked hard in the successes we have achieved during this difficult period, our stakeholders with whom we acted together and our valuable shareholders who have never withheld their support from us.”