Evening News: Turkey Finance Contributed 204 Billion TL to the National Economy
Forex - Türkiye Finans contributed a total of 204 billion TL to the national economy in the first nine months of 2024, comprising 157 billion TL in cash and 47 billion TL in non-cash contributions. The bank expanded its funding sources, increasing the total funds collected to 188 billion TL, which represents a 6% increase since the beginning of the year, while also raising its legal equity capital by 14% to reach 32 billion TL.
Türkiye Finans disclosed its financial balance sheet for the third quarter of 2024 to KAP. The bank contributed a total of 204 billion TL to the national economy in the first nine months of 2024, including 157 billion TL in cash and 47 billion TL in non-cash contributions. Maintaining its strong capital structure in the third quarter, Türkiye Finans increased its legal equity capital by 14% compared to the end of the previous year, reaching 32 billion TL, while its capital adequacy ratio stood at 18.93%. The bank also raised its total collected funds to 188 billion TL with a 6% increase since the beginning of the year.
Strong financial support for the national economy In his assessment of the third quarter, Türkiye Finans General Manager Murat Akşam emphasized that support provided to producers and exporters, particularly in the real sector, is a key element for Turkey's sustainable growth. He highlighted Türkiye Finans's role in championing production and exports, stating that the bank continues to provide financial support to the national economy on both individual and commercial fronts with this approach. He added: “We maintained our sustainable growth strategy in the third quarter of 2024. Our institution, sustaining its strong capital structure, successfully raised its legal equity capital by 14% since the beginning of the year to 32 billion TL and achieved a capital adequacy ratio of 18.93%. We are proud to have contributed a total of 204 billion TL, including 157 billion TL in cash and 47 billion TL in non-cash contributions to the national economy during the first nine months of 2024. In this period, we also expanded our funding sources, increasing the collected funds by 6% to reach 188 billion TL. With the funds we gathered, we financed SMEs, the lifeblood of the economy, and increased their usage of financing by 28% year-on-year in the first nine months of 2024.”
In the third quarter, Akşam noted that they continued to accelerate their efforts to improve customer experience and digitization. “With the innovative digital solutions and inclusive strategies we offer, we have made access to banking services easier, enabling 82% of individual transactions and 68% of corporate transactions to be completed without ever visiting a branch. We strengthened the existing solutions provided to our corporate clients through digital channels with new functionalities. With the Swift GPI function, we enabled our customers to track their international money transfers end-to-end, thereby ensuring a secure and transparent payment experience. We facilitated the international trade transactions of our exporter customers by adding Export Value Acceptance Certificate (İBKB) transactions to our digital channels. By adding processes such as checkbook applications and promissory note payments to our digital channels, we allow our corporate clients to carry out several banking transactions without interrupting their business. Additionally, we offered our 'Request for Payment' service to all individual and commercial customers using Internet Banking and Türkiye Finans Mobile Banking. This allows our customers to create as many Request for Payment requests as they wish within FAST and transfer limits through our digital channels, enabling them to collect their receivables and share common expenses.”
“We have automated 22,630 hours of work with robots” Murat Akşam also provided information about Türkiye Finans's digital transformation efforts in customer and employee experience: “With our human-centered technology approach, we have elevated our customer and employee experience to a higher level. Our investments in digital customer experience have, along with innovative business models and products developed with artificial intelligence support, brought the proportion of customers using mobile banking to 96% in the first nine months of 2024. Positive customer feedback from digital channels reached 88%, while we acquired 30% of our new customers through our digital channels. Additionally, through Robotic Process Automation (RPA) Projects, we have enabled 22,630 hours of work to be performed by robots since the beginning of the year. This not only increased efficiency but also reduced the workload on our employees.”
Expressing that the bank's achievements continued to receive global recognition with international awards obtained in the third quarter, Akşam concluded his remarks: “We take pride in the distance we have covered so far in our digitalization journey, which we see as the most powerful tool for enhancing the experience of our customers and employees and for sustainable banking. In the last quarter of 2024, we will continue to improve the excellent customer experience with human-centered technology and innovations, while also supporting production and trade with a sustainable development perspective and inclusive banking strategies.”