Innovative and leading participation bank in Turkey, Kuveyt Türk announced its financial results for the first quarter of 2021. Kuveyt Türk's asset size reached 163.6 billion TL by increasing its fund size by 13 percent to 89.2 billion TL. Equity assets of Kuveyt Türk, which made a net profit of 459.2 million TL in the first quarter of 2021, reached 8.2 billion TL.
Standing out with innovative products and services, the leading participation bank of Turkey, Kuveyt Türk has announced its financial results for the first quarter of 2021. Kuveyt Türk's fund size increased by 8 percent compared to the end of 2020 and reached 132.2 billion TL, while the size of funds provided increased by 13 percent and reached 89.2 billion TL. Kuveyt Türk increased its net profit in this period by 45 percent compared to the same period of the previous year, to 459.2 million TL. Having reached 8.2 billion TL in equity and 163.6 billion TL in asset size, Kuveyt Türk maintained its 10th place in the banking sector in terms of asset size, and strengthened its place in the first place among participation financial institutions.
"We continued our steady growth"
Kuveyt Türk’s President Ufuk Uyan, said “We have been serving our customers for 32 years with our products and services that we have developed in line with participation finance principles. As in previous years, we continued our steady growth in the first quarter of this year. In this period when the epidemic continued, we shaped our main focus within the framework of the health of our customers and employees. With our solution-oriented technological infrastructure, we continue to meet the financial needs of our customers easily, quickly and securely through digital channels. We may state that the amount of funds we allocated reached 89.2 billion TL in the first quarter, which is an important indicator of our sensitivity to support the real economy. In the upcoming period, we will continue our sustainable profitable growth with high asset quality and a healthy liquidity level by closely following the dynamics of the sector, and we will continue to provide new financing support to the real sector, which constitutes the most fundamental element of the economic structure.” in his assessment of financial results.
“We implemented the application of becoming a customer with video calls”
Stating that the expectations of customers regarding financial transactions are changing as digitalization touches our lives more and more, Ufuk Uyan said, "Customers now want to do whatever and wherever they want, in the safest and fastest way possible. While doing all these, they demand solutions by which they can perform their banking transactions without distance, inexpensively, easily and intelligently. In order to meet these expectations of our customers in the best way, we have implemented the application of becoming a customer and opening an account by video call via Kuveyt Turk Mobile as of May 1, with the enacted legislation. With this new service, which we call the method of being a customer without a mask, remotely and easy, we bring the convenience of being a Kuveyt Turk customer to the phone range. We aim to be one of the financial institutions that offer the best customer experience in Turkey in this field. "
"We are increasing our volume of financing disbursements"
Stating that the banking sector also plays an important role in terms of financial incentives and the sustainability of economic activity in the fight against the epidemic, President Uyan said, “The funds provided by banks during the fight against the epidemic significantly prevented the disruptions in the cash flows of individuals and sectors affected by the epidemic. As Kuveyt Türk, we continue to give the support we gave in 2020 to the real sector this year as well. We anticipate a growth of over 20 percent in the financing made available in 2021. In particular, we will continue to focus on our products and services for our foreign trade customers in order to effectively bring our foreign currency resources to the real sector. In addition, we increase sectoral diversity in financing, especially in agriculture, tourism and energy sectors.”
We started 24/7 instant money transfer with Kolay Adres
Stating that a new era has begun in money transfers with FAST, which enables 24/7 internal money transfer, Ufuk Uyan said, " We are a financial institution that quickly offers innovative applications to our customers thanks to our strong technological infrastructure. We both took part in the pilot phase of the Kolay Adresleme and FAST application provided by the CBRT and as of January, we provided the service of all our customers. In addition to their IBAN information, our customers can make money transfers via the Kolay Adresleme System in a very short time with information such as mobile phone, e-mail or TR ID number. In digital transformation, we will continue to provide an experience that facilitates the financial transactions of our customers without compromising the understanding of ‘our route is digital, our focus is human’".
Turkey's Best Employer for the 4th time in a row
Conducting its human resources processes with the principle "people first-employee first" and implementing many original human resources practices such as Gelişim Mutfağı, Gelişim Sepeti, İyi ki İşveren Brand, Önce Çalışan Meclisi, Kuveyt Türk won the awards in the Best Employers in Turkey 2021 organized by Great Place To Work Institute Turkey in the field of human resources, ranked first at the “5000+ Employees Category” for the fourth time in a row and became the “Best Employer of Turkey”. The technology company Architecht, a 100% subsidiary of Kuveyt Türk, entered the list of the best employers for the second time at the "100-250 Employees" category.
In the foorsteps of art and Craftsman
Kuveyt Türk added the book 'In the Footsteps of Art and Craftsmen' in 2021 to the series of prestige works, which it has brought to publishing life in order to leave source books to future generations. The book, which sheds light on the skills and knowledge of the masters who are among the representatives of our ancient tradition today, covers 30 different branches of arts and crafts in detail, and hosts masters and their works on its pages. The PDF and e-book version of the work can be accessed on Kuveyt Türk's website