The Turkish Economy Bank (TEB) announced its financial results for the first quarter of 2022. Thus, at the end of the first quarter, loans, the most important indicator of TEB’s support for the economy and its customers, constituted 57% of its total assets. While supporting sustainable growth by contributing to the national economy, TEB has continued its efforts to add value to all its stakeholders and create a positive impact on society with the understanding of being an “exemplary good bank”.
As of March 31, 2022, TEB’s total assets stood at TL 221 billion, with a net profit of TL 1.595 million. Loans, the most important indicator of TEB’s support for the economy and its customers, accounted for 57% of its total assets. Prioritizing risk management and asset quality as in every period, TEB’s total lending stood at TL 126.2 billion, while its total deposits stood at 153. 5 billion TL during the same period. Ensuring stable growth through its strong capital structure and maintaining profitability in a sustainable manner in 2022, TEB’s shareholders’ equity stood at TL 15.8 billion, while its capital adequacy ratio was 17, 46%, well above the target ratio of 12%.
The TEB offered new products and services in this area by ensuring rapid adaptation to exchange rate measures and newly issued instruments. In this regard, TEB branches offer the “TRY term deposit account with currency protection”, “TRY term deposit account with currency deposit account conversion”, “TL term deposit account with account conversion gold” and “YUVAM Account” in order to protect the savings made in Turkish lira against variations in the exchange rate and CEPTETEB internet branch and CEPTETEB mobile application. With its products where savings is a priority, TEB protects its savers against exchange rate risk and encourages customers with foreign currency deposits to turn to TL.
Offering alternative products on the deposit side to encourage its customers to save, TEB continued to contribute to spreading the savings habits of its customers with the Marifetli Account, which facilitates savings through its deposit/withdrawal flexibility. TEB Marifetli account volume increased by 17% in the first quarter of 2022.
TEB continued to support its customers with consumer loans offered with different repayment schedules, a three-month deferral function and alternative maturity options. According to data from the first quarter, where the use of digital channels in consumer lending increased, TEB received 82% of applications from digital channels and 83% of loans approved were used through digital channels. It improved its personal loan production processes by offering new campaigns to its customers through the development of digital channels.
Continuing to improve its experience in digital channels with its customer-oriented and innovative perspective, TEB increased the number of customers using digital banking channels to 2.3 million in the first quarter of the year, enabling its customers to carry out their banking transactions quickly and without interruption.
As the concept of sustainability is gaining importance day by day with the changing conditions in the world, TEB has continued its activities with the aim of leading the world towards a better future by acting with a sense of responsibility. Supporting sustainable economic growth with its banking activities, TEB also conducts activities that create positive impact and benefits for the economy, environment and society with the understanding of “good and exemplary banking”. During the first quarter of the year, TEB launched a new advertising campaign to draw attention to the importance of sustainability and raise awareness of this issue. In the film, in which children represent our future and share their unique messages about sustainability, the positive impact projects implemented by TEB within the framework of sustainability were also explained. TEB develops many projects that have a positive impact on society, ranging from encouraging women’s participation in the labor market to supporting entrepreneurs, from raising awareness of financial literacy throughout society to popularizing the social entrepreneurship.
Working to contribute to the achievement of our country’s economic growth and sustainable development objectives, TEB has continued to contribute to the development of individuals’ awareness of savings and the elevation of their level of financial literacy with TEB. Family Academy. TEB Family Academy, which is dedicated to spreading the habit of saving, propagating this habit to the grassroots and raising a financially literate generation, through collaborations with various institutions and organizations since 2012, has further expanded its sphere of influence with his work on digital platforms. In this sense, new financial literacy content has been created in order to support women entrepreneurs, who are an important part of the economy, to manage their own business. By the end of the first quarter, TEB Family Academy’s financial literacy trainings reached more than 5,000 people working in more than 20 institutions from different sectors.
TEB Private Banking, which supports social enterprises in our country to create a positive impact on society, continued its cooperation with Ashoka Turkey with the concept of “Investments that make a difference”. TEB Private Banking, which also supports Open Open Social Enterprise, the online platform that aims to transparently share the reasons for the existence, effects, financial data and revenue models of social enterprises with the public and investors , participated in the Turkish Entrepreneurship Ecosystem 2022 Q1 event and added its efforts on social entrepreneurship to the ecosystem shared with its stakeholders. In addition, TEB Private Banking was selected as the best in Turkey in the category “Capital Markets Investment Advisory” in the 2022 Private Banking and Wealth Management study conducted by Euromoney, one of the world’s leading financial magazines. .
TEB continued to focus on strengthening the presence of women business owners and entrepreneurs in the business world for sustainable economic growth with Women’s Banking. TEB, which helps women overcome the obstacles they face in various areas of business life and facilitates their access to information to access new markets, also continues to provide financial and non-financial support to women. CEOs. In the first quarter of 2022, the volume of cash loans granted by TEB to women’s enterprises increased by approximately 15% compared to 2021 data. TEB granted women entrepreneurs a loan of approximately TL 3 million, with a special rate loan campaign organized specifically for women entrepreneurs on March 8, Women’s Day.
TEB SME Banking continued its efforts to bring value to SMEs, the locomotive of the Turkish economy, with financial products but also non-financial products and services, with its “Consultant Bank” approach. Alongside the real sector with its concessional loan opportunities and KGF loans in the first quarter of the year, TEB continued to support SMEs to expand overseas and provide alternative financing solutions to foreign trade customers.
TEB has enriched CEPTETEB İŞTE, which it launched to provide the best digital banking experience to SMEs, with new developments. In this context, opening a “TL Term Deposit Account with foreign currency deposit account conversion”, a “TL Term Deposit Account with gold account conversion”, a payment service without contact with QR code, withdrawal and deposit of money at ATMs with QR code, use and redemption of one-time credits, virtual credit Innovations such as the creation and management of cards, the application of Paperless and instant digital credit for individual businesses have been made available in the CEPTETEB İŞTE mobile application.
TEB has continued its activities with the vision of being an important player for innovative and value-added technology companies in their growth periods, in addition to the financial and non-financial support it provides to entrepreneurs through its Venture Banking. TİM-TEB Venture House in seven provinces has increased the number of startups it supports with acceleration programs for technology companies to 1700. In the first quarter of the year, 80 startups were accepted into the acceleration programs. early and late stage acceleration initiated by TİM-TEB entrepreneurship houses.
TEB Corporate Banking continued to support its corporate clients in their growing financing needs in the first quarter of the year by offering cash and non-cash loan facilities on favorable terms to further contribute to increased exports and to the development of our country’s economy. While TEB Corporate Banking supported its clients in treasury (global markets) and derivatives, which are its preferred areas, it also offered different medium-term financing options to its clients providing international outsourcing services and machinery investments using the broad international coverage of BNP Paribas. network. TEB was selected as “Turkey’s Best Treasury and Cash Management Bank” in the rating of the World’s Best Treasury and Cash Management Banks for 2022 by Global Finance magazine, one of the respected publications followed by close by the world of finance.
Cash opportunity with interest-free installments for new CEPTETEB members
Special package for TEB lawyers
Euromoney’s Capital Markets Investment Advisory Award at TEB Private Banking