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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, including developed countries, enters the last quarter of 2022 struggling with a high inflationary environment, the ongoing energy crisis in Europe, political uncertainties that have been going on for some time, and slowing economic activity as a result of all these factors.

Along with the world, Turkey continues to struggle with high inflation as well. The fact that the fight against inflation and markets functioning in a stable environment based on trust stands out as one of the most important topics in the economy. 

We will keep our eyes on the energy shortage experienced in the European countries where we export the most and the effects of the decline in production and demand that will be experienced along with it. On the other hand, the production for Europe's needs and the importance of the supply chain provide an opportunity for Turkey. 

As the banking sector, we will continue to support the real sector in this process for growth in both exports and production by contributing to economic growth. 

Amid all these uncertainties, QNB Finansbank closed the third quarter of 2022 with steady growth with the right strategies and successful management. As of September 30, 2022, the total assets of our bank increased by 49 percent compared to the end of 2021 and amounted to 555 billion 144 million TL. In the same period, our Bank's net loans increased by 52 percent to 304 billion 862 million TL, while customer deposits increased by 59 percent to 340 billion 754 million TL. In the first 9 months of 2022, our Bank's net profit for the period was 11 billion 471 million TL. As of September 30, 2022, our total equities increased by 73 percent compared to the end of 2021 and amounted to 38 billion 321 million TL. 

While we launched many banking products supporting both our customers and the real sector in the third quarter of 2022, we continued to carry out important strategic studies with all our banks and subsidiaries regarding sustainability.

In this context, we will continue to offer e-Invoice and other e-Transformation Services free of charge to new customers until 2025, on the Digital Bridge Platform, which we have implemented to accelerate the digital transformation of SMEs and larger-scale companies, and which also contains very important services for the production and export of the real sector. On the other hand, we started to train foreign trade ambassadors with the Digital Bridge Step-by-Step Export Program. In this context, the "Foreign Trade Advanced Level Certificate Training Program", which we organized in-house under the "Digital Bridge Step-by-Step Export Program", produced its first graduates.

We continued to introduce sustainability-related resources to our economy and increase our product range in this field. We have raised up to US$ 50 million in funding from the EBRD to be used for women-led SMEs. We have agreed with Merrill Lynch International to perform swap transactions based on sustainability performance criteria. In addition, we provide all the electrical energy needed by our bank from renewable energy sources.

Furthermore, sustainability is now becoming an indispensable condition in supporting the real sector. Our Subsidiary, QNB Finansleasing, and the European Bank for Reconstruction and Development signed a new loan agreement for 25 million Euros. The source provided will be used to finance investments that support the green economy, energy efficiency projects of SMEs, and green transformation-based investments of women entrepreneurs.

In the capital markets, our subsidiary, QNB Finansinvest, broke a record with an initial public offering of 3.1 billion TL in the first 9 months of 2022. With the public offerings it led as a brokerage house during this period, QNB Finansinvest introduced important brands operating in the renewable energy, textile, iron-steel, and technology sectors to the capital markets.

QNB Finansbank has taken its place among the best employer brands in the world by receiving two awards from the Stevie Awards for Great Employers Program with its human resources applications while being the winner of the 'Best Digital Transformation Bank of the Year' and 'Best Online Services Bank for Micro and SMEs' awards from Global Finance and Review magazine with its Digital Bridge solutions. 

Under the umbrella of our Little Hands Big Dreams Platform, we continue our training with no decelerating, in the scope of many subjects, from coding to mathematics to art, to producing projects for a sustainable future for children.

I would like to thank our esteemed financiers, customers, and partners who have been a part of the Bank's growth within the framework of sustainability principles by contributing to all these achievements.

Kind regards,

Ömür Tan
CEO
QNB Finansbank A.Ş.