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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,

We have entered the last quarter of the year 2020 still under the ongoing implications of the COVID-19 pandemic, and the efforts to create the new normal. The whole world is working on developing a new model of life, in which the society's well-being would be maintained while the social and economic cycles are running. As the vaccine studies advance on another path, we are working to develop the banking system of the new world order.

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’s economy, alongside social restructuring, and awareness of climate and sustainability issues. 

The world has gradually adopted a new normal since June. However, concerns about the pandemic are still live in the last quarter of the year, where limited restrictions are under way in Europe, which take the economic factors into account.

Advance to the new normal has brought economic recovery with it, as well. As international trade resumes and the wheels start to turn for the real sector, IMF revised its projected contraction figure for the global economy from 5.2% to 4.4%. 

As for Turkey, thanks to the successful economic precautions that were launched rapidly during the pandemic, the economy has entered a quick recovery phase as of the third quarter. The New Economy Program anticipates 0.3% growth for 2020, and 5.8% for 2021.  This points to a growth performance that would positively differentiate Turkey from other developing countries. 

The Banking sector has assumed significant roles in financing and supporting the economic activities during the pandemic. The sector will continue to do so in the coming days, to ensure that growth is sustained in line with the requirements of the new normal. The level of our support to the real sector will be higher, while our banking services will be enhanced with artificial intelligence and latest technologies that provide smart solutions to meet the customer requirements.

At this junction of critical importance, QNB Finansbank continued to work devotedly, responsibly and with maximum effort. With our pioneering technology and applications in digital banking, we have been one of the fastest adapting banks to the new normal. The priority of the Bank has been to stand by the real sector for all of their financial requirements, and as indicated by the loan growth performance in the third quarter, support to the real sector continues at higher levels. We will continue to emphasize on digitalization and supporting the real sector in the last quarter as well. 

As of 30 September 2020, the total assets of our Bank grew by 26 percent compared to the year-end of 2019, reaching TL 229 billion 558 million. 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 same period, total equity came to TL 17 billion 719 million with a 6 percent increase compared to the year-end of 2019. In the first nine months of 2020, the Bank’s net profit realized at TL 1 billion 836 million. 

In these challenging times, QNB Finansbank has sustained its pioneering position in the industry, with its strong capital, and devoted human resources. I hereby thank to our bankers who work in devotion to ensure these achievements, as well as all of our customers and stakeholders.  

Kind regards,
Ömer A.  Aras
Chairman 
QNB Finansbank A.Ş