Turkish Economy Bank 2024 First Quarter Financial Results

Turkey Is Bank, Announced the Financial Results for the First Quarter of 2024

Turkey Is Bank shared its financial results for the first quarter of 2024 with the public. As of March 2024, the bank’s total assets increased by 8.5% compared to the end of the year, reaching 2.6 trillion TL.

Resources Provided to the Economy by the Bank

• Cash Loan Volume: Is Bank’s cash loan volume reached 1.3 trillion TL by the end of March.
• Non-Cash Loan Volume: The bank’s non-cash loan volume amounted to 467.5 billion TL.
• Total Funding Amount: Is Bank provided a total of 1.7 trillion TL to the economy.

Awards and Achievements

Is Bank ranked first among banks in Turkey in the 2024 ‘Banking 500’ report, which ranks the most valuable brands in the banking sector. Additionally, the bank was selected as the ‘Best Bank in Supporting Social Development in Central and Eastern Europe’ in Global Finance’s ‘Sustainable Finance Awards’ assessment.

Green Transformation and Environmental Responsibility: Is Bank issued the ‘100th Year Bond,’ the first green finance bond offered to the public to finance green projects. Moreover, the bank is relaunching the ’81 Forests in 81 Provinces’ project with a plan to plant 2.2 million saplings within 5 years.

Equity and Profitability

Equity Size: While the bank’s equity size reached 275 billion TL, the capital adequacy ratio stood at 18.5%. Is Bank, which earned 14 billion TL in profit in the first 3 months of the year, continues to maintain its financial strength.