Leading participation finance institutions in Turkey, Kuveyt Türk has disclosed its financial results for the third quarter of 2020. The size of the funds collected during this period has reached 119.3 billion TL increasing by 39,6 percent compared to the end of 2019 while the funds made available by Kuveyt Türk has reached 78,9 billion TL increasing by 36,3 percent. Increasing its net profit to 1 billion TL with an increase by 33,3 percent compared to the same period last year, Kuveyt Turk’s total assets and shareholders equity have reached 153 billion TL and 7,5 billion TL, respectively.
Standing out with its innovative products and services, Kuveyt Türk has disclosed its financial results for the third quarter of 2020. Kuveyt Türk closed the 3rd
quarter with a profit to 1 billion TL, an increase by 33,3 percent compared to the same period of the last year. The size of the funds collected during this period has reached 119,3 billion TL increasing by 39,6 percent compared to the end of 2019 while the funds made available by Kuveyt Türk has reached 78,9 billion TL increasing by 36,3 percent. Reporting that its shareholders’ equity has reached 7,5 billion TL and its asset size has increased to 153 billion TL, Kuveyt Türk maintains its position as the leading participation bank and ranked 10th
in the overall banking market in terms of asset size.
“Our contribution to real economy will increasingly continue”
Ufuk Uyan, the CEO of Kuveyt Türk, said, “We have been one of the financial institutions that took swift action as part of supporting the real economy since the first period of the fight against the pandemic. With the normalization process, we continued to provide uninterrupted service to our customers thanks to our fast and solution-oriented technological infrastructure, without compromising the measures for the pandemic. Following the outbreak, physical branch traffic decreased while interest toward digital channels increased. As a result of the increasing interest in our digital channels, our total number of transactions reached pre-pandemic levels. This fact revealed how accurate the investments we made in the field of technology were. We will continue to stand by our customers with our high asset quality, robust technological infrastructure and effective human resources.”
“We launched our Digital Explorer products”
Detailing about the recently launched Digital Explorer products, Ufuk Uyan said, “We presented our Digital Explorer products, which we prepared to invite children to conscious consumption and parents to secure their children's future. Digital Explorer products specially designed for children are highly popular. Thanks to new products consisting of Digital Explorer Participation Account, Digital Explorer Card and Digital Explorer Mobile Application, children can now both save for their future by controlling their expenses and improve their financial literacy level. We get pleasing feedback on our new products”.
"We have been granted numerous awards for our efforts in the field of Human Resources"
Stating that they are acting with the understanding of "people first-employee first" in the field of human resources, Ufuk Uyan said: “Our human resource applications have been granted numerous awards in 2020. We have been the first finance institution of Turkey to be ranked among 'Europe's Best Employers 2020' held by the Great Place to Work Institute. In the meantime, we have achieved becoming the first financial institution to take part among the list in the field of interest-free finance in Europe. Besides; our benefits applications "Sepetim" (My Basket) received a silver award and our internal communication network "İyi ki" (Fortunately) received a bronze award in the Stevie Big Employers Awards 2020, which is among the world's most prestigious business awards. Last but not least, "Kuveyt Turk Banking School", where learning turns into value, was also granted 10 awards, four of which were gold in "Excellence Awards" organized by Brandon Hall Group.
"The sixth term in Lonca starts in December"
Underlining that they continued their efforts even while combatting the pandemic for Lonca Entrepreneurship Center, which has been initiated for supporting and developing new ideas and making use of them for the country's economy, Ufuk Uyan said: "We have conducted the fifth term graduation program of Lonca on online platform due to the coronavirus pandemic. We have quickly deployed our efforts for the sixth term. The application process still continues. Applications, which can be made in two separate categories, General and FinTech, shall be accepted through www.loncagirisim.com until December 4, 2020 ”.