Messages from the President | DenizBank

Messages from the President

We are working to mark the future

Messages from the President

Here we are, standing at a turning point whereby technology is advancing with unprecedentedly frequent leaps, in a way never before witnessed in history. As the world economy is reconfigured with the global pandemic, we are going through a serious paradigm shift towards digitisation. Once considered impractical in social and economic lives, fundamental changes are implemented one by one. As the process of remote customer onboarding has recently become possible in our country, access to financial systems has never been this convenient. Yet, we are witnessing the rise of a new era, where the notion of ‘digital’ will gradually become obsolete and we will not be able to talk in many fields, finance in particular, without digitisation in them. In this climate, the definition of banking – the basic element of production and development, intermediating the rational distribution of sources in societies – is dramatically changing as well.

Now we are institutions that not only help our customers with their financial needs, but ones that touch every moment of their lives. Therefore, we are innovation hubs obliged to adopt an ecosystem approach. Our mission is to foresee macro changes and transformations and be agile enough to take position, interpret big data – since it is considered the new oil for the economy – and to transform it into models, allowing customers to access our products and services rapidly and easily.

DenizBank has invested heavily in innovation, technology and R&D since day one, placing our innovative self in the core of our business as the means to make people’s lives easier. We established the first ever Digital Generation Banking Department in Turkey in 2012, appointing the first ever CDO in the industry. We brought fastPay to life, as the first and largest digital wallet in our country, which is now an e-money institution, and offered it to all bank users. We designed Producer Card, the greatest financial innovation in agriculture, and From Deniz to Earth, a world-first smart agriculture application, where we are able to advise our farmers. We established the Data Science Programme in 2017, given the importance of big data in finding quick solutions to customer needs. Last but not least, we founded Deniz Aquarium Innovation Hub and Deniz Ventures Mutual Fund, to engage in more agile collaborations with local entrepreneurs and fintechs. Thus, we have actualised a solid structure where new start-ups and fintechs can flourish externally or from within our institution, where we can provide support for them to stand up, and help the ecosystem grow while also growing our Bank thanks to that blossoming ecosystem.

With these steps, each being innovative for our sector, we have acted in the sense of a bank that is creative and agile as a technology hub, and always considered by the customers as a companion and solution partner. That very same approach carried us to the frontline in projects that are strategically important to our future. We never hesitated to provide funding to projects such as the Third Bridge, Third Airport, TAV Bodrum Airport and Ilısu Dam as well as PPP model City Hospitals. We have embraced niche sectors that keep our country going such as education, healthcare, energy, infrastructure, tourism, shipping, agriculture, municipalities and sports clubs, since day one. Thanks to these investments, we ensured that SMEs – the backbone of our economy – get the necessary funding. We were the pioneer bank, standing by SMEs with the projects we have undertaken within the scope of CGF, Nefes and KOSGEB loan facilities. Having stepped in Agricultural Banking in 2002 as an inspiring initiative for the sector with the motto, “Farmers mean life”, we are now the leader among private banks by far, with 45% market share as of today.

On the other hand, being aware of the importance of bringing new funds into the country’s economy, we obtained the largest fresh funding secured from international markets by a Turkish Bank in that particular year; with a subscription amount totalling 1.1 Billion USD in 2019. Having renewed a significant amount of this funding with a 115% rollover ratio short while ago, we actualised a 435 million USD securitisation transaction, believing that it will pave the way for Diversified Payment Rights (DPR) Securitization Programs backed by future flows.

We have always aimed for the welfare of all our stakeholders and gain of our country, rather than that of just our branches, regions and our Bank. We have set sail on this journey, guided by the corporate governance principles, summarised as transparency, accountability, fairness and responsibility. Considering our mission as public service, we felt the utmost responsibility towards serving this country and our people.

Having set off in 1997 as a bank with no branch, employees or customers, we are proud to be the 5th largest private bank of Turkey in terms of consolidated assets, aiming to pass this legacy to future generations and leave a mark in this country. We will continue to work in the period ahead, with the vision to be the bank that produces diligently for its homeland and which people can rely on.

Hakan ATEŞ
CEO
DenizBank Financial Services Group

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