Dear Shareholders and Members of the Board;
The first 9 months of the year has been a period of extraordinary conditions brought by the COVID-19 pandemic. With its strong balance sheet, devoted human resources and prudent precautions, QNB Finansbank has been one of the most geared-up banks in coping with this challenging period. As a normalization process takes place, we have focused on striving against the adverse effects of the pandemic on the economy, without compromising the health precautions. We have launched many new packages and will launch many more, in order to meet all financial requirements of our customers, and to help the real sector, so that the wheels of the economy keep turning.
As of 30 September 2020, the total assets of QNB Finansbank grew by 26 percent compared to the year-end of 2019, reaching TL 229 billion 558 million. In the same period, net loans rose by 23 percent reaching TL 136 billion 605 million; and customer deposits by 29 percent, reaching TL 129 billion 510 million. In the first nine months of 2020, the Bank’s profit before tax amounted to TL 2 billion 289 million, while net profit came to TL 1 billion 836 million. Thanks to the strong operating performance, total equity of QNB Finansbank reached TL 17 billion 719 million as of 30 September 2020, with a 6 percent increase compared to the year-end of 2019.
We are entering the last quarter of 2020 with smart and efficient banking solutions shaped according to the requirements of the new normal. As the banking industry is more digitalized these days, we continue to contribute to our customers and the industry accordingly. We continue to stand by our customers with our banking services that offer reliability together with speed, and take human health as our core objective in all of our processes, improving our digital channels.
In the human resources field, our priority has been to protect the health of our bankers. Prudence in our Human Resources applications continued to be recognized at international levels, as well. Within ‘The Stevie Awards for Great Employers', QNB Finansbank Human Resources Department received the gold prize in the categories of ‘Best Youth Recruitment Strategy’ and ‘Most Innovative Talent Acquisition Program’, the silver prize in the category of ‘Success in Recruitment’, and the bronze prize in the categories of ‘Best Talent Acquisition’ and ‘Best Recruitment and Talent Acquisition Team of the Year’.
Moreover, within the Excellence Awards organized by Brandon Hall Groups, which selects the companies all over the world that practice the best management processes and systems; QNB Finansbank Talent Acquisition Programs won the gold prize in the categories of ‘Most Innovative Talent Acquisition Program’ and ‘Most Innovative Talent Management Program’, silver prize in the category of ‘Best Improvement in the Development of High Potential’, and bronze prize in the category of ‘Best Sourcing and Assessment Strategy’.
During the course of COVID-19, we have provided online access to users all over Turkey for the coding training programs that the Bank organized under the platform called “Small Hands-Big Dreams”. This project also continues to be appreciated, with the awards received. Recently, ‘Small Hands Coding’ project was awarded a special prize within the Turkish Capital Markets Association (TCMA) Awards, in the category of Social Value. Another initiative aiming to move the children's coding success one step further, Scratch Cup Coding Contest also continues. This time, children will code to “find solutions for the World’s problems”, for the World that they dream of.
I hereby thank all of our stakeholders, especially our valuable bankers, customers and strategic business partners, who have made the Bank to advance in a strong and steady manner in these challenging times that we are passing through.
QNB Finansbank A.Ş.