In today’s world, where technology advances at lightning speed and customers are ever more demanding, Akbank Direkt strives to satisfy client needs without time or physical location limitations while pioneering technological innovations in both the sector and in Turkey.
Widely known for anticipating changes in trends and customer dynamics to develop new products and channels for meeting the individual financial needs of clients, Akbank has introduced many innovations to the Turkish banking industry.
As of end-2016, Akbank reported consolidated net profit of TL 4,854 million (approximately USD 1,387 million) and total consolidated assets of about TL 295 billion (approx. The Bank’s consolidated capital adequacy ratio of 14.2%, calculated according to Basel III standards, is among the highest in the sector.
The total loans of Akbank, which continues to conduct its operations to create sustainable value for the Turkish economy, jumped by 16.6% to TL 179 billion.
In 1954, after relocating its Head Office to Istanbul, the Bank rapidly expanded its branch network and had automated all banking operations by 1963.
Floated to the public in 1990, Akbank shares began trading on international markets and as an American Depository Receipt (ADR) after its secondary public offering in 1998.
With a strong and extensive domestic distribution network of 840 branches and more than 14,000 employees, Akbank operates from its Head Office in Istanbul and 22 regional directorates across Turkey.
The Bank has published this report in accordance with Global Reporting Initiative (GRI) standards every year since 2009.51.1% of Akbank’s shares are listed on the Borsa Istanbul.The Bank’s other subsidiaries, Ak Investment, AKAsset Management and Aklease, provide non-banking financial services alongside capital markets and investment services.Equipped with state-of-theart IT systems and a staff of experienced professionals, Akbank provides top quality services to an extensive portfolio of consumer and corporate banking customers.Harvard University Kennedy School of Government (Harvard KSG) has turned Akbank’s transformation story and growth strategy in the aftermath of the 2001 crisis into a case study.The Bank adopted the “New Horizons Restructuring Program” in response to the Turkish economic crisis of 2001, when the country’s economy and banking industry were struggling to deal with the impact of the crisis.Akbank’s non-performing loan ratio of 2.3%, attained thanks to the Bank’s effective risk management policies, is significantly below the sector average of 3.2%.Akbank continued to win prestigious awards in 2016 when the global business cycle weighed on the banks.Akbank was voted as the “Bank of the Year in Turkey” by The Banker, winning the sector’s most important international award.Akbank also registered major accomplishments for the Turkish banking industry by being deemed the “Best Bank in Turkey” by Global Finance and the “Best Bank in Central and Eastern Europe” by Euromoney.The study emphasized the fact that digital banking will play a growing part in our lives in the years ahead.Banking will transition from branches to mobile platforms in Turkey, given its young population with high levels of smart phone and internet penetration.