Business Summary: Akbank TAS is a Turkey-based commercial bank. It operates under the following segments: Consumer Banking; Commercial Banking, Small and Medium Enterprises (SME) Banking, Corporate-Investment and Private Banking, and Treasury. Consumer Banking offers retail services such as deposit accounts, consumer loans and asset management services, among others. Corporate Banking, Commercial Banking and SME Banking provide solutions and services to large, medium and small size corporate and commercial customers, such as Term Loan (TL) and foreign currency (FC) denominated working capital loans financing for investments, foreign trade financing and cash management services, among others. Project finance loans are provided within the context of Investment Banking activities. In the scope of Private Banking, the Bank serves the members of the high-income customers. The Treasury segment conducts TL and FC spot and forward transactions, treasury bonds and private sector bond transactions, among others.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2022, Akbank TAS (ADR) interest income increased 47% to TRY149.92B. Net interest income after loan loss provision increased from TRY27.55B to TRY79.98B. Net income totaled TRY20.52B vs. loss of TRY9.23B. Net interest income after loan loss provision reflects increase in interest earning assets and decrease in interest bearing liabilities.