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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,

Since the COVID-19 outbreak first took hold of Turkey and showed its impact in March, QNB Finansbank has proved to be one of the most successful banks in addressing the situation through taking measures both for the financial statements of our Bank and our employees. 

As of March 31, 2020, our Bank’s total assets reached TRY 205 billion 735 million, with a 13% increase compared to the end of 2019. Net loans extended by the Bank grew 9%, totaling TRY 120 billion 897 million, while customer deposits recorded a 16% hike which corresponded to TRY 116 billion 377 million, compared to the 2019 year-end. Our Bank’s net interest income in the first 3 months of 2020 increased by 43% year-on-year, reaching TRY 2 billion 402 million, and the net fee and commission revenues rose 4% to TRY 654 million. The Bank’s profit before tax amounted to TRY 918 million and the net profit for the period to TRY 766 million.  

As of March 31, 2020, total equities reached TRY 16 billion 28 million and the capital adequacy ratio of our Bank was 15.11%. 

When the COVID-19 outbreak first started to spread across the world, we undertook swift scenario planning and implementation efforts, primarily to protect our employees and customers, and to continue our banking activities without interruption.

Accordingly, QNB Finansbank was the quickest bank to adopt home working in mid-March, and the first to limit the number of customers inside its branches and to start on-call branch practices.

We informed our employees without a moment of delay. We closely monitored both our employees’ and their families’ health with an increased effort to protect them in the best manner from the outbreak, through putting in place hygiene and protective equipment.

Financiers continued to work incessantly despite being at home during this period, and played a significant role in helping us come out strong from these challenging times, which is also confirmed by the considerable increase attained in our Bank’s Net Promoter Score.  

In this period, we also have clearly recognized the importance of digital banking efforts undertaken by QNB Finansbank. We are navigating these days seamlessly, conducting our banking activities with uninterrupted service and quick solutions.

As we have a responsibility by virtue of our position in the banking industry, it goes without saying that we have also actively participated in the fight against the COVID-19 outbreak. As of March 2020, we have donated TRY 10 million for this fight, either through individual equipment purchases or various financial aids. 

We also fulfill all our responsibilities as a bank to help corporations and individuals affected by this outbreak through postponing loan repayments and credit card debts, offering Credit Guarantee Fund support, and cheque payment support.

Our bank will play an active role in the upcoming economic fight and recovery period. Driven by our strong financial statements, we will continue to ensure uninterrupted banking services.

We are still exerting best efforts to rank among the leading banks of the industry in the post-coronavirus world order with a focus on digital banking, call center and innovative banking solutions, as well as HR frameworks aimed at an active and effective young generation in new working models and new start-up practices. 

I would like to thank our financiers, customers, all our strategic business partners and correspondent banks for their infinite support to us in these efforts.

Kind regards,

Temel Güzeloğlu

QNB Finansbank A.Ş