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Message From Chairman

We build life-long and successful partnerships with all our stakeholders through understanding and best fulfilling their needs

Dear Shareholders,

The year 2020 and the COVID-19 pandemic will be recorded as a milestone in the world history, marking a change in human health and the world economy, alongside social restructuring and awareness of climate and sustainability. 

The World has gradually adopted a new normal since June 2020, and the wheels of the global economy have slowly started turning again. The world still struggles with the pandemic on the one hand, while acting towards preventing from the material economic shrinkage on the other. 

IMF has revised its forecast for the global economy, projecting a 4.9 percent contraction this year, lower than the 3 percent fall it had projected back in April, as COVID-19 pandemic impacts the economy more adversely than initially expected. 

Since the beginning of the pandemic, Turkey has been able to overcome COVID-19 with a lower death toll compared to other nations, particularly thanks to the thriving Turkish healthcare system as well as the big achievements and devoted endeavours of Turkish health care professionals. 

Turkey will serve as a major supply chain hub in this period as well, with its regional advantage and strong real sector. Export and production will be our most important topics of focus in the coming period. 

At QNB Finansbank, our utmost priority is the health of our employees and customers during the COVID-19 period. We became the first bank to have adopted remote working and back-up branch practices. As of June 1, we resumed processes with the new normal. With that being said, the health of our employees and customers will always be our number one priority. We maintain our pioneering mission with the measures that we took in this field.

In this period, we fulfilled our responsibilities to turn the wheels in real sector. We supported the real sector by introducing loans aimed at SME and the agricultural banking clients for return to business, and postponing loan repayments and debt restructuring to offer peace of mind to our clients. 

Our Bank prioritizes standing by the economy and real sector with all of their financial needs. It was named the Best Bank for SMEs in the Central and Eastern Europe in “2020 Awards of Excellence” organized by one of the world’s most prominent and prestigious financial institutions and publishing groups, Euromoney. We owe this achievement to walking beside our clients, identifying the needs accurately, creating new models during significant financial changes, and our leading position in the industry with our digital infrastructure.

A new process awaits everybody in the coming period with COVID-19. As with all the other industries, banking sector will undergo a restructuring process with digitalization, advancement of online and mobile banking, new ways of doing business and new working life models. At QNB Finansbank, we will be one of the fastest banks to adapt to this process with our strong capital base, pioneering initiatives in digital banking and our financiers.  

Commenting on our financial results of the first half of 2020, total assets of QNB Finansbank increased by 15 percent, compared the year-end of 2019, reaching TL 208 billion 358 million as of June 30, 2020. While net loans of the Bank rose by 11 percent to TL 122 billion 961 million, and customer deposits grew by 17 percent to TL 117 billion 103 million. In the first half of 2020, net interest income of the Bank increased by 40 percent, compared to the same period of 2019, reaching TL 4 billion 693 million, and the net fee and commission revenues realized at TL 1 billion 169 million in the same period.  The profit before taxes of the Bank amounted to TL 1 billion 566 million, while net profit in the same period reached TL 1 billion 272 million. 

We sustained our prominent position in the industry by maintaining our profitability in the first half of 2020, which marks one of the most challenging times in the world history.

I would like to thank our bankers, customers and esteemed stakeholders for their immense contributions during this unprecedented time.

Kind regards,

Ömer A. Aras

QNB Finansbank A.Ş