13.02.2020
Kuveyt Türk, one of the leading participation banks of Türkiye, announced its financial results 2019. Its net profit increased by 28% in comparison to last year to reach TL 1 billion 110 million, its total assets increased to TL 104 billion 439 million, and its equity capital increased to TL 6 billion 821 million. Ufuk Uyan, CEO of Kuveyt Türk, said “We exceeded the targets we set for total assets and net profit in 2019. We will keep on supporting the real economy and contributing to the financing of the economic growth.”
Kuveyt Türk, one of the leading participation banks of Türkiye and renown of its innovative products and services, announced its financial results 2019. Its net profit increased by 28% in comparison to last year to reach TL 1 billion 110 million, so that it continued to grow stable in 2019. Total amount of the funds it raised increased by 58.4% in comparison to 2018 to reach TL 85 billion 494 million, and the total amount of the funds it lent increased by 21.2% to reach TL 59 billion 926 million. Its equity capital increased to TL 6 billion 821 million, its total assets increased to TL 104 billion 439 million, so that Kuveyt Türk ranked first among the participation banks and became the 11
th largest bank in terms of its total assets in this country.
“We exceeded the targets we set for total assets and profit”
Ufuk Uyan, CEO of Kuveyt Türk, said: “We maintained both our stable growth in 2019 and the quality of our assets. The total assets of TL 104.4 billion we achieved as of the year end reinforced the ranking of this bank among the other participation financial institutions. We made a total net profit of TL 1.1 billion in 2019 to exceed the target we set. Both the funds we raised and the funds we lent increased more than the average ratio of the banking sector as a whole. We continued to start new branches in 2019 too, now we run 430 branches. We can say that thanks to this growth, we will give priority to supporting the real economy and contributing to the financing of the economic growth in 2020.”
“We are good in terms of NPL ratio”
Noting that the technology- and customer satisfaction-oriented projects they realized played an important role in their successful growth chart, Ufuk Uyan said: “In addition to focusing on real person and legal person customers, we continued to contribute to the financing of the real economy and economic growth in 2019. We realized numerous projects including the Gold-Backed Lease Certificates we brokered to help the gold hidden under the mattress to find its way into the economy, the Export Support Package we launched to increase hard currency inflow to this country, the preferred financing packages we introduced to provide the tourism industry with financial support, and many other products and services. We were the first participation bank integrated with the Short-Term Receivable Insurance cover provided by Eximbank. We ranked the first Turkish participation bank listed in the Shanghai Gold Exchange. We increased such strategic products as leasing, foreign trade financing, confirmed or non-confirmed financing for suppliers, project financing, and consumer loans in 2019. We worked to achieve the target we set by maintaining the quality of our assets, so that we ranked among the financial institutions performing best in terms of NPL ratio.”
TL 1 billion financing for investments in machinery
Emphasizing that they introduced a new campaign to finance long-term investments made in machinery in 2020, Ufuk Uyan said: “We introduced this campaign to support financing of the real economy, manufacture and investments and aim to lend a total loan of TL 1 billion to customers. Our customers may borrow loans to invest in machinery at a minimum profit rate of 0.79, with a grace period of six months and a repayment term up to 60 months. Corporate customers may borrow such loans until the end of April.“
“Preparations are completed for roof Solar Energy Projects”
Stating that it is good news for them to observe the increase of awareness of efficient use of natural resources and renewable energy is good news, Ufuk Uyan said: “To date Kuveyt Türk lent a total loan of US$ 1 billion to renewable energy projects. We provided financing of 153 solar energy projects representing a total capacity of 531 MW in Türkiye. We represent 10% of the countrywide total capacity. We completed the preparations to finance roof solar energy projects of individuals. We focus on solar energy projects including the tender to be announced in April for Renewable Energy Source Fields based on solar energy. We will keep on financing clean energy sources. We give priority to financing such new energy sources as wind, landfill gas and biogas. We provide financing for the mega projects in Türkiye too. We allocated a loan limit of US$ 200 million to the North Marmara Highway project in 2019. We won international awards for similar infrastructure projects we financed.”
1.4 million active online customers
Emphasizing that Kuveyt Türk pioneers the banking sector with its technology and innovation projects such as Your Bank, XTM, Online Supplier Financing, and My Pocket POS, Ufuk Uyan explained that Kuveyt Türk had approximately 1.4 million active online customers as of the end of 2019. Pointing out that the whole range of services available to customers at branches are available online too, Uyan said their customers make many transactions, like paying their invoices and buying or selling share certificates, without having to pay any banking charge. Uyan explained that 86% of all financial transactions made by the customers of Kuveyt Türk was made online.
Priority to individual biometric solutions
Stating that they would focus on customized financial services in 2020, Ufuk Uyan, CEO of Kuveyt Türk, said:
“Considering that customer safety is important more than ever, we are working on introducing customized individual biometric solutions to our banking services. Furthermore, we give priority to provide such technologic solutions as chatbot and voice technologies. We plan to introduce several innovations to improve the experience had by our small- and medium-sized business customers and corporate customers in our digital channels. On the other hand, developments to be made in the field of paper-free banking will make online banking more important in 2020 We will do our best in technologic terms to ensure our customers to experience more comfortable online transactions. The Robotic Process Automation project in progress in the present is an example of our robot technology projects. The first stage of the said project is to make software robots perform manual, repeating and predictable tasks. We believe these projects will save us time and cost, and increase the quality of the processes.”