Dear Shareholders and Members of the Board,
QNB Finansbank sustained the steady growth curve in the second half of 2019.
As of June 30, 2019, the Bank’s total assets increased by 9%, compared to the year-end 2018, reaching TRY 171 billion 203 million, while net loans grew by 6 percent to TRY 100 billion 63 million, and customer deposits rose by 10 percent to TRY 91 billion 695 million.
In the first half of 2019, the net interest income realized at TRY 3 billion 342 million, while net fee and commission income rose by 33 percent, compared to the same period of 2018, to TRY 1 billion 289 million. The Bank’s profit before tax amounted to TRY 1 billion 457 million, while net period profit reached TRY 1 billion 280 million. Total equity rose by 3 percent compared to the year-end 2018, reaching TRY 14 billion 977 million.
On top of our investments in the field of retail banking, we developed products that offer key solutions including export, digital banking and e-invoice collateralized loans for SMEs in the first half of 2019. We had a major role in paving the way for international opportunities for women entrepreneurs across the banking sector with our Women’s Entrepreneur Export Package. We brought together all of the sectors and large corporations on a common ground in order to meet the financing needs of small-scale businesses in particular, through our e-Invoice collateralized SME loans.
We added our brand new technological product Q to our portfolio of projects that helped us achieve many firsts in the banking sector. Marking another first in the sector as a vital app, Q now makes it possible for a special assistant to keep track of the financial needs of our customers.
In 2019, we strengthen this achievement, achieved on the back of invaluable contribution by our bankers through the social responsibility projects that we run for children. At QNB Finansbank, we have been carrying out coding training sessions, pioneered since 2015, this year we launched the “Tiny Hands Write Code” Project with Habitat. We aim to reach a total of 3,000 students in 22 cities in 2019with this project, which has organized training for over 1,000 students across 14 cities since March 2019.
Launched in 2018, the “QNB Finansbank TALES Math Museum Mobile Track” project continued into 2019. We managed to reach over 80,000 children across 32 cities with this project.
QNB Finansbank will continue to undertake projects that train children in many areas, from coding to math, from art to cultural development in 2019.
I would like to extend my thanks to our bankers, clients, all strategic business partners and correspondent banks who reinforce our strength as we achieve our goals.