Kuveyt Türk's asset size reached 254 billion TL

Kuveyt Türk, Turkey's leading participation financial institution, announced its financial results for 2021.


Kuveyt Türk, which increased its fund size by 74 percent to 212.1 billion TL compared to 2020, increased its fund size by 56 percent to 123.4 billion TL. The total assets of Kuveyt Türk, which increased its net profit by 79 percent to 2.5 billion TL compared to the previous year, reached 254 billion TL and its own assets reached 10.5 billion TL.

Kuveyt Türk, which has been successfully serving its customers for more than 30 years with its products and services developed in line with the participation financial principles, announced its financial results for 2021. In 2021, Kuveyt Türk increased its net profit by 79% compared to the previous year to 2.5 billion TL in addition to maintaining its stable growth by increasing its profitability. The fund size of Kuveyt Türk, which reached 212.1 billion TL with an increase of 74% compared to 2020, increased by 56% to 123.4 billion TL. Kuveyt Türk, which increased its equity to 10.5 billion TL and its asset size to 254 billion TL, was among the top 10 in the banking sector in terms of asset size, while strengthening its position in the first place among participation financial institutions.

“We have offered innovative, technological and advantageous solutions to our customers”

Ufuk Uyan, General Manager of Kuveyt Türk, made an evaluation on the subject and stated "In 2021, when the effects of the epidemic continued, the macroeconomic outlook and global economic activity followed a fluctuating outlook. In this period, in line with our digitalization approach, we have realized many innovations by focusing on the expectations and demands of our customers. Again in this period, we offered innovative solutions to meet the financial needs of our customers and realized important collaborations. With our strong capital structure and dynamic corporate governance approach, we will continue to take steps that add value to our shareholders' savings. We will continue to offer innovative products and services to our customers in 2022 by focusing on customer satisfaction and experience."

Miles & Smiles takes first place as one of its official partners

In 2021, Kuveyt Türk became one of the official partners of Miles & Smiles with the agreement made with Turkish Airlines, the flag carrier of our country. Within the scope of the agreement, Miles & Smiles Kuveyt Türk customers can earn miles from the flights they carry out with Turkish Airlines and program partner airlines, the expenditures they make in program partners and shopping. In cooperation, Kuveyt Türk put Miles&Smiles credit cards into service for its individual customers as well as for SME customers. In addition, the first bank card that earned miles was put into service. Miles&Smiles Kuveyt Türk Business credit card was put into practice for the first time in the sector and Miles&Smiles card was put into service for commercial companies as well as private companies.

Turkey's and the world's first sustainable capital-like sukuk issuance

Kuveyt Türk, which made the "Global Sustainable Tier 2 Capital Similar Sukuk Issuance" for the first time in Turkey and the world in line with the participation finance principles in 2021, received over 4.3 billion dollars in demand with a 10-year maturity of 350 million dollars and a very wide geographical distribution including Continental Europe, the United Kingdom, America, Asia and the Gulf with an early redemption option at the end of the fifth year. Kuveyt Türk evaluates the resources it derives from sustainable law in green and social project financing, especially renewable energy financing.

24/7 financing support with on-site financing service

Continuing its innovative products and services without slowing down in 2021, Kuveyt Türk launched the ’On-Site Financing‘ service by signing another principle to meet the financing needs of its customers easily and quickly. With the On-Site Finance service, Kuveyt Türk offers its customers the opportunity to purchase periodic and high amount expenditures such as marriage, travel, home renovation with high installment numbers in accordance with the participation financial rules. With this system, customers can use financing in a short time in both physical and online shopping in contracted businesses. In the On-Site Financing system, which is a new generation solution using API technology, one of the participation finance principles is used.  Customers can use the On-Site Financing service 24/7.

‘Exchange Rate Protected’ and ‘Conversion Supported’ TL participation accounts

In December 2021, Kuveyt Türk offered two new participation account products to its customers within the framework of interest-free finance principles. In the ‘Exchange Rate Protected TL Participation Account', customers who consider their savings as Turkish Lira deposits or convert their foreign currency deposits into TL can protect their savings and savings against exchange rate changes in accordance with interest-free finance principles with 3, 6 and 12-month maturity options. Kuveyt Türk customers, who have deposits in US dollars, British Pounds or Euro as of 20 December 2021, can convert their savings and deposits into Turkish Lira and benefit from the ‘Transformation Supported TL Participation Account‘ created with interest-free finance principles with 3, 6 and 12-month maturity options. Kuveyt Türk customers can open their Conversion Assisted Participation Account from branches, internet branch and Kuveyt Türk Mobile; they can open their Exchange Rate Protected TL Participation Account from branches. 

Kuveyt Türk and Param in cooperation

Kuveyt Türk, which continues to offer many conveniences to its legal customers in every field with its collaborations, cooperated with Param, one of the leading companies in the field of electronic payment systems and financial technology. Within the scope of the agreement, businesses that use Kuveyt Türk's CebimPOS product can offer advantages to their customers over a much wider network by using Param infrastructure, while they can make installment transactions through 22 banks and 9 card brands. My money benefits from Kuveyt Türk's wide customer network.

Best Employer in Europe: Kuveyt Türk

Standing out with the unique human resources practices it has implemented for its employees, Kuveyt Türk has signed up for another important success. Kuveyt Türk, which has been successful in being the 'Best Employer in Turkey‘ for the first time in the "5000+ Employees" category for the fourth time in a row, won the ‘Best Employer in Europe’ award by signing a first in 20221. Kuveyt Türk thus became the first Turkish company to be named the Top Employer in Europe.

‘Best Islamic Portfolio Management’ award to KT Portfolio

KT Portfolio, which is a 100 percent subsidiary of Kuveyt Türk, was awarded the 'Best Islamic Portfolio Management’ award at TheNext 100 Global Awards 2021, which was organized within the scope of the Global Banking& Finance Awards, which rewarded the prominent practices of companies in the banking and finance world in the fields of expertise and excellence. This internationally important award confirmed the accuracy of KT Portfolio's strategies and innovative practices in the field of asset management.

Kuveyt Türk in figures as of the end of 2021

  • Kuveyt Türk provided 140.8 billion TL support to the real economy through cash and non-cash fund transfers.
  • Fund growth, which was made available in 2021, was 56%.
  • Due to its high active quality, the rate of illiquid receivables was 2.49%.
  • Investments and foreign trade were financed with a fund growth of 148.9% foreign currency during the year.
  • Annual fund growth was 74%, reaching a total fund volume of 212.1 billion TL.
  • Since last year, the share of TP in the funding base has been increased with the fund growth of 71% Turkish Lira.
  • The share of current deposits in the collected funds was 60.4%.
  • The average return on equity was 27.12%.
  • The capital adequacy ratio reached 23.05%, with a legal limit of 12%.