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Message From CEO

QNB Finansbank signed its name under significant achievements in the name of its customers and shareholders

Dear Shareholders and Board Members,

QNB Finansbank has proved to be one of the most geared-up banks in coping with the COVID-19 outbreak, which marked the first half of 2020, thanks to its robust balance sheet, devoted employees and proactive precautionary actions.  

As of June 30, 2020, total assets of our bank increased by 15 percent compared to the year-end of 2019, reaching TL 208 billion 358 million. Tapping into our customer-oriented approach, we continued to grow particularly in the fields of corporate and commercial loans in 2020. Net loans rose by 11 percent compared to the year-end of 2019 to TL 122 billion 961 million, while customer deposits grew by 17 percent to TL 117 billion 103 million. In the first half of 2020, net interest income increased by 40 percent, compared to the same period of 2019, reaching TL 4 billion 693 million, and net fee and commission revenues realized at TL 1 billion 169 million in the same period.  Profit before tax for the period amounted to TL 1 billion 566 million, while net profit came to TL 1 billion 272 million. 

QNB Finansbank has become the first bank to adopt remote working practices in the middle of March, limit the number of customers inside our branches, and initiate back-up branch approach in order to protect the health of our employees and clients against the effects of COVID-19 pandemic. After wrapping up this process through the devoted efforts of valuable bankers and uninterrupted banking activities, we resumed our work in our branches and headquarters gradually with the “new normal” rules as of June 1, 2020.

Throughout this period, we additionally strove to fulfill our responsibilities towards our clients. We deployed novel solutions to assist our retail and business clients with their financial difficulties and to provide them with uninterrupted cash flows. We announced long-term loan packages with grace periods exclusively for our SME and agricultural banking clients returning back to business. Through our Digital Bridge Project, we stood by and supported SMEs, with a turnover below TL 5 million, to be subject to mandatory e-transformation as of July 1, 2020. 

We attained a tremendous achievement in “2020 Awards of Excellence” organized by one of the world’s most prominent and prestigious financial institutions and publishing groups, Euromoney, and were named the Best Bank for SMEs in the Central and Eastern Europe thanks to our financial and digital solutions for SMEs, and our Digital Bridge Project, as well as loan support packages aimed at the real sector throughout COVID-19 pandemic.

At QNB Finansbank, we renewed our syndication loan with a 50% increase in May, and raised USD 390 million funds with varying maturities from international banks and institutions. We utilized these resources to support the real sector. 

Enpara.com website was named “the best in its class”, with popular vote, in the Banking and Finance category at the 18th edition of Golden Spider Web Awards this year.  

We made the first investment in Kassa, an early initiative under the QNBEYOND Acceleration Program, with USD 200,000. Additionally, we established QNBEYOND Ventures by allocating USD 15 million to support important FinTech enterprises. Planning to invest directly in a total of 20 different enterprises, QNBEYOND Ventures will also take part in other venture capital funds as an investor.

COVID-19 pandemic undoubtedly affected both ways of doing business and working order for everybody with its impact on the economy. However, we paid attention to our social responsibility, and changed our training for children to online platform under our CSR Platform, Small Hands Big Dreams, with migration quickly in two months. The By the Power of Dreams Project that we realize in association with TOG (Community Volunteers Foundation) and Tiny Hands Are Coding Project, together with the Habitat Association, were also moved to online platform, where we deliver them to all children in Turkey free-of-charge.  

I would like to thank our bankers, clients, all of our strategic business partners and correspondent banks, who reinforce our Bank’s strong progress in these challenging times.

Kind regards,

Temel Güzeloğlu
CEO

QNB Finansbank A.Ş