EVALUATION OF FINANCIAL STATUS
The Bank’s total assets reached TRY 7,556,649 by the end of 2015, going up by 20.87% when compared to the previous year. In US Dollar terms, the Bank’s total assets diminished by 3.60% from $ 2.696 billion at the end of 2014 to $ 2.599 billion by the end of 2015. By the end of 2015, the Bank achieved net profit worth TRY 26 million. This represents a drop in profitability of 23% compared to end-2014. While the return on average assets based on net gain was 0.59% in 2014, this ratio stood at 0.38% in 2015. The return on average equity, which was 3.91% in the previous period, declined to 2.94% in 2015.
By the end of 2015, the Bank’s total shareholders' equity reached TRY 879.9 million with a decrease amount of TRY 6.7 million. With this result, Aktif Bank further strengthened its shareholder equity structure and Aktif Bank’s year-end capital adequacy ratio stood at 13.60%.
In 2015, the Bank continued to manage its credit portfolio with a view to optimizing the risk-return balance, meeting customers’ financing needs at different maturities in the most suitable manner. The total volume of loans and financial leasing transactions grew by 16.44% to TRY 4,638 billion in 2015. The Bank’s non-cash loans amounted to TRY 631.4 million. However, despite the economic crisis and its worldwide negative impact, the Bank’s share of total non-performing loans remained at 1.99%, thanks to rational and balanced risk policies.
The Bank, implementing the first ABS (Asset-Backed Security) issue by establishing Turkey’s first Asset Finance Fund on October 20, 2011, did not issue any ABS in 2015. The aforementioned transaction of securitisation, based upon Aktif Bank’s individual loan portfolio, was rated AAA, the highest possible credit rating in Turkey. By means of this operation, the first issuance based upon individual loans in Turkey, the Bank has taken a pioneering and innovative step towards obtaining funds, the main problem of investment banks.
|BALANCES WITH BANKS & MONEY MARKET PLACEMENTS||216,299||155,337||39%|
|TRADING SECURITIES (NET)||9,271||4,251||118%|
|INVESTMENT SECURITIES (NET) ||930,741||887,838||5%|
|LOANS & FACTORING RECEIVABLES (NET)||4,638,261||3,983,292||16%|
|FINANCIAL LEASE RECEIVABLES (NET)||-||-||-|
|GUARANTEES AND INDEMNITIES||631,362||991,109||-36%|
|NET INTEREST INCOME||307,398||238,622||29%|
|NET FEE AND COMMISSION INCOME||59,148||33,863||75%|
|PROFIT BEFORE TAXES||52,120||41,439||26%|
|PROVISION FOR TAXES ON INCOME||-26,153||-7,714||239%|
| || || || |
| || || |
|CAPITAL ADEQUACY STANDARD RATIO||13.60%||12.73%|
|RETURN ON AVERAGE EQUITY||2.94%||3.91%|
|RETURN ON AVERAGE ASSETS (PROFIT BEFORE TAX BASIS)||0.75%||0.73%|
|RETURN ON AVERAGE ASSETS (NET PROFIT BASIS)||0.38%||0.59%|
|NET FEE AND COMMISSION INCOME / OPERATING COSTS||10.31%||9,51%|
|FIXED ASSETS (NET) / AVERAGE EQUITY||40.27%||34.42%|
|NON-PERFORMING LOANS / TOTAL LOANS||1.99%||3.01%|
|INTEREST INCOMES / INTEREST EXPENDITURES||180.19%||174.02%|
|YIELDING ASSETS / TOTAL ASSETS||76.68%||80.47%||