Şekerbank earned a net profit of 25.2 million TL in the first three months of 2017. The widespread deposit portfolio of the Bank, which disclosed its March unconsolidated financial tables, increased by 9 percent annually to exceed 15 billion TL as of the end of the first quarter. Şekerbank General Manager Servet Taze, who provided information about the bank’s financial statements, said “Thanks to our deep rooted branch network with most branches in service for half a century, we continued to be the unchanging address for small savings. The under 250 thousand TL deposit accounts comprised half of our retail deposits”.
The loan volume of the Bank, with its total loans comprised half by agriculture and half by SME loans, rose to 16.8 billion TL as of 31.03.2017.
With total assets reaching 23.7 billion TL as of the end of the first quarter this year, 71 percent of Şekerbank’s total asset size was comprised by loans in the framework of the Bank’s mission to support production. As of March 2017 the Bank’s equity reached 2.6 billion TL.
“We continue to be the unchanging address of small savings.”
Servet Taze, pointed out that the bank has a broad-based retail deposit structure with customers that have stayed at the bank eight years on average and a widespread branch network, 70 percent of which are in Anatolia, and added: “Şekerbank continues today to carry out its principles of financing production and savings oriented growth that it has embraced for the past 64 years and we especially continue to be the unchanging address for hundreds of thousands of broad-base savings customers throughout Anatolia. On the other hand we have also enabled segments that have never worked with banks before to access financial resources so that rural segments can become part of production, increase revenue and move towards savings.“
Servet Taze: “KGF secured loans increased 5 fold in the first quarter”
Şekerbank General Manager Servet Taze underlined the fact that the bank has been providing SME, merchant and agricultural banking, which the sector has been concentrating on in recent years, for many generations and therefore has a deep rooted expertise in this field and added: “As one of the banks that has a widespread load structure, we continued to provide producers with resources in the first quarter of the year and therefore we contributed to the economy. We are rapidly increasing the rate of loans we provide in the scope of KGF (Credit Guaranteed Fund), a very valuable measure taken to encourage production, and continuing to increase the support we give to our SMEs, tradesmen and businesses that are the backbone of our economy and production. In this context the total of loans we have given secured with KGF have reached 5 times the amount at the end of the year as of the end of March 2017.”