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Message From General Manager

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

Dear Shareholders and Board Members,

The world experienced high inflation, war in Europe, shrinkage, blocked supply chains, and an energy crisis in 2022.

While Türkiye is again experiencing a period of high inflation, we have determined a strategy to manage our banking activities in the best way possible by minimizing the effects of our developments on the world. 

We experienced numerous regulatory changes in the banking sector throughout 2022. As a consequence, we have seen periodic shifts in the focus on the sector. Changes in conditions have introduced new focal points, accordingly. QNB Finansbank has been swift to keep pace with the changes and achieved significant success with the strategies we implemented.

In line with our growth strategy focused on core banking activities, we increased our net profit for the period to TL 17 billion 224 million in 2022. As of 31 December 2022, our total assets increased by 62% compared to the year-end of 2021, reaching TL 601 billion 755 million. In the same period, our net loans grew by 72% to TL 344 billion 957 million and customer deposits rose by 80% to TL 384 billion 58 million. 

In 2022, our growth in both loans and deposits outstripped that of private banks and the overall sector. In credit growth, we maintained our focus on credits in Turkish lira and continued our stable support for the growth of the Turkish economy. As noted, our growth exceeded the sector and private banks, especially in deposits in TL. The share of TL deposits in total customer deposits was over 60%. 

We renewed our syndication transactions which matured in May and November and raised USD 360 million and USD 448 million from international banks. With the syndication that we procured in November with a 104% roll-over ratio, we recorded the highest roll-over ratio among the second-half syndications in the banking sector. With these transactions, which we have performed based on sustainability performance criteria, our bank has once again confirmed its commitment to the Turkish economy and sustainable development. 

2022 was a volatile year: With developments in the world economy, the energy crisis, the Turkish economy again experiencing double-digit inflation 20 years on, uncertainties in the markets, and new regulations for the banking sector. 

Nevertheless, QNB Finansbank has spent the past year further reinforcing its strength in the sector by offering sage guidance to our customers and new solutions for the real sector, while strengthening our balance sheet by making the right decisions in the global inflationary environment. 

Our bank has continued to increase its contributions to a sustainable world in 2022. While determining our investors and new investment instruments within this framework, we continued to offer correct and profitable investment instruments to our customers.

Market fluctuations and supply-chain challenges in Europe have created an important opportunity for the Turkish economy to focus on increasing exports. We also demonstrated our expertise in this field, especially with the support we offer SMEs to open up the world with e-export. Our distinct approach was highlighted by special tools and services in support of SMEs for foreign trade transactions, especially with the Step-by-Step Export program.

Our subsidiary, QNB Finans Financial Leasing, and the European Bank for Reconstruction and Development agreed a EUR 25 million loan. This loan's proceeds are allocated for investments to support the green economy, SME's energy efficiency projects, and financing investments based on the green transformation of women entrepreneurs. 

We are in an era when there is increased awareness of the importance of working for a more sustainable world. Our bank has made a significant commitment within the framework of our sustainability endeavors. We have officially and publicly announced our policy of not granting loans to new coal thermal power plants and new coal mine investments as of 2015 as a sound climate commitment.

In December, our bank's climate change rating was raised from C to A - one of the highest grades in the Turkish financial sector - based on reports submitted to the London-based Carbon Disclosure Project (CDP), the world's largest environmental reporting platform.

We added the QNB Finansbank Clean Energy Index - one of the capital market instruments we offer to investors - to our efforts to combat climate change and promote sustainability. 

We continue to provide education to children in many fields, from coding to mathematics and art, under our Tiny Hands Big Dreams Platform. This year, we added a new project to the platform. We initiated the 'Climate Protectors are Growing Up’ Project in cooperation with “Türkiye Eğitim Gönüllüleri Vakfı” (TEGV: the "Education Volunteers Foundation of Türkiye") under the Small Hands Big Dreams Platform with the aim of raising children's awareness of climate change. Launched in Mardin as a pilot project in its first year, the 'Climate Protectors Are Growing Up' scheme provided training to 500 children in 13 provinces. We aim to reach out to more children with this project in the years ahead. 

We were extremely proud to receive 11 awards for our successful products and services in national and international award programs in 2022.

I would like to thank our valued financiers, customers, and shareholders who are behind all these achievements.

Kind regards,

Ömür Tan
QNB Finansbank A.Ş.