Business

İşbank’s assets reached 593.9 billion TL


Turkey Business Bank ‘At the end of 2020, total assets increased by 26.9 percent compared to the end of 2019, Turkey’s largest private bank rose to 593.9 billion TL ‘headline continued.

Adnan Bali, CEO of Isbank, said in a statement on the financial results at the end of the year, “2020 has been a year in which we have proven our ability to provide uninterrupted service despite all the negatives of the pandemic process. During this period, we continued to support the real sector and households to the best of our ability with credit delays and additional credit limits. By the end of the year, the sources we provided to the economy through cash and non-cash loans reached 485.1 billion TL.

According to the statement, by the end of 2020, the total number of deposits required in banks reached 368.9 billion and remained the largest private bank in Turkey. The share of deposits, which are the main source of funding, in total liabilities is 62.1%; Continuing to diversify its financing structure with a fiscal-oriented approach, Ishbank secured a $ 1.6 billion syndicated loan, along with agreements signed in May and November. The bank also issued $ 750 million in subordinated bonds during the year. This issue is the first market operation in the form of additional capital made by Turkish banks abroad since February 2018. Business Bank continued to support the country’s economy with an issue of great interest to investors.

In 2020, with the Covid-19 pandemic accelerating the digital transformation of the banking sector, Ishbank continued to offer versatile banking services through diversified digital service platforms, and the number of digital customers rose to 9.2 million by the end of the year. the share of transactions reached 96 percent.

With an inclusive approach, the bank continues to operate by touching all segments of society, net profit of 6.8 billion TL at the end of the year. At the end of the period, the capital adequacy ratio of 18.7 percent of the working capital of the working capital was 67.8 billion TL. (PUA)

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