PASHA BANK ENG 20

PASHA Bank as a dynamic market player keeps going on its healthy expansion. Esteemed Stakeholders, Apparently we end the last year of the current strategic period with increasing optimism. In fact, this optimism has legs and covers both external, also internal aspects. The external aspect is basically characterized with hopes over improvement of the pandemic situation due to vaccine application, and internal one is related with reform agenda of the government with respect to economic and financial market management. In addition, announcement of the government regarding reforms on law side is another strong message which feeds rising policy credibility. As a result of those combined factors, we witness improvement in economic landscape and also in economic indicators. Appreciation of Turkish lira, acceleration of growth recovery, improvement of investor and consumer expectations etc. are some examples for the latter. The fact is that current developments enable us to hope and expect very strong come back of the economy with lots of opportunities in the next year, which in its turn is the first year of the next 2023 strategic period of the Bank. Despite hard and challenging times throughout the year, the overall banking system has succeeded to maintain risks within the acceptable levels, and profitability at two-digit territory. But it is a fact that, overall slowdown in the economy, is being reflected into the performance indicators of the banking system. In any way, according to latest data, the total assets of the system in the last 12 month has increased by 36% as opposed to prior year and reached TL 6,108 billion. The same trend applies to credit portfolio. Total credits of the industry reached TL 3,827 billion with 32% increase. It is a tradition, therefore, we are proud to say that PASHA Bank as a dynamic market player keeps going on its healthy expansion. In general, continuous investment onto strengthening of internal capabilities, starting from building core competencies for managing business to increasing human capital potential of the Bank, has already demonstrated its strategic return in the form of capable navigation through the stressful times. As a result, total assets of the Bank increased by 26.3% to reach TL 2,179 million when compared to the same period of the prior year. Our gross cash loan and leasing receivables portfolio, comprising 69% of total Chairman’s Message dynamic 22 Annual Report 2020 PASHA Bank General Information