• Presentation
  • Türkiye Finans in Brief
  • Our Vision, Our Mission, Our Corporate Values
  • Corporate Strategy
  • Strategic Priorities and Basic Initiatives for 2013
  • Awards and Recognitions
  • Summary Financial Information
  • Amendments to the Articles of Association and the Justifications for Them
  • Capital and Shareholder Structure
  • Shares Held by the Members of the Board of Directors and Managers
  • Chairman's Message
  • CEO's Message
  • Customer Constitution
  • Macroeconomic Outlook and Sectoral Developments
  • An Assessment of the Bank's Position in the Sector in 2013
  • An Assessment of Türkiye Finans' Activities in 2013 and their Results
  • Türkiye Finans's Plans for 2014
  • Research & Development; New Services and Activities
  • Compliance Opinion on the Annual Report
• Management and Corporate Governance Practices
  • Board of Directors and Audit Committee
  • Executive Vice Presidents
  • Unit Managers within Internal Systems and Directors
  • Organization Chart
  • Governing Bodies and Committees at the Bank, Participation of Bank Directors and Committee Members in Meetings
  • Information About General Meetings Held in 2013
  • Annual General Assembly Meeting Agenda
  • Summary of the Board of Directors Report Presented to the General Assembly
  • Information about Human Resources Practices
  • Information about the Related Party Transactions, the Bank Enters
  • Information about Consolidated Affiliates
  • Other Information
  • Activities for Which Support Services are Outsourced and the Persons and Organizations from Which They are Obtained
• Financial Information and Assessment on Risk Management
  • Audit Committee's Assessment of Internal Audit, Internal Control, Risk Management and Regulatory Compliance Functions; Committee Activities During the Reporting Period
  • Declaration Concerning the 2013 Annual Report
  • Independent Auditors' Report
  • The Unconsolidated Financial Report of Türkiye Finans Katılım Bankası A.Ş. For the Year Ended 31 December 2013
  • Independent Auditors' Report
  • The Consolidated Financial Report of Türkiye Finans Katılım Bankası A.Ş. For the Year Ended 31 December 2013
  • Information About the Bank's Dividend Policy
  • Assessment of Financial Position, Profitability and Solvency; Asset Quality and Profitability
  • Information About Risk Management Policies by Type of Risk
  • Information About Credit Rating Agency Rating Assignments and the Nature of Such Ratings
  • Summary Financial Information Pertaining to the Five-Year Period Including the Reported Period
  • Appendix: Amendments to Articles of Association
  • Directory

Chairman's Message (Annual)

2013 marked the beginning of a new era in the global economy.

In 2013, “slow growth” was the main scenario being projected for the world economy and trade. While the growth and unemployment figures in the USA were better than the figures for other developed countries, the Eurozone - which has been suffering from slower growth - was facing a number of challenges such as the potential for deflation combined with high levels of unemployment, in addition to the ongoing problems in the banking system. The year was also marked by slowing growth rates in emerging markets due to structural problems.

It was the FED’s decision to taper bond purchases and to bring up its strategy to discuss monetary policies which would be supportive for such an exit that gave rise to this new set of circumstances. These included increasing interest rates globally, a slowdown in the expansion of USD liquidity, capital outflows from emerging markets and a devaluation in their currencies, a rise of the USD against other currencies and a decline in asset and commodity prices, which all contributed to the so-called re-pricing process. The new circumstances have had a particularly profound impact on emerging markets, whose internal dynamics are fragile.

Despite the fact that two international credit rating agencies raised Turkey’s credit rating to investment grade, mounting expectations of a contraction in global liquidity conditions precipitated a reversal of the global capital flow that had been flowing into emerging markets, including Turkey. Again, in parallel with changing global conditions, the TL lost significant value against the USD and Euro. Likewise, gains in equity markets were replaced by losses. In the face of this situation, the CBT’s further strengthening of monetary policy added to the pressure that our sector faced, associated with a significant rise in our funding costs.

"Turkey's Finance"
We strive to ease the lives of our customers and invite everybody to work with Türkiye Finans: Turkey's Finance.

In 2014…

Along with the growing global economy, the US economy is expected to gain more momentum in 2014, with the Eurozone on course to demonstrate a more moderate growth trend. According to the IMF, a changing composition of global growth will continue to point to downward risks for emerging markets.

It now becomes imperative that Turkey’s credit rating is maintained at investment grade in the period ahead, while steps are taken to reduce the macroeconomic and financial risks with the composition of domestic and foreign demand protecting Turkey’s balanced growth path, and to keep the current account deficit at a manageable level.

In this macroeconomic juncture, Türkiye Finans maintains its steady growth trend in accordance with its strategic plans.

As a subsidiary of the largest capital holding bank in the Middle East, Türkiye Finans has always closely benefited from the support of its primary shareholder. With this support, Türkiye Finans has strengthened its reputation in the international arena, particularly in Saudi Arabia and other Gulf countries, while ensuring a continuous rise in its banking limits and foreign trade transactions thanks to its strong credibility and taking advantage of funding facilities (provided with broad participation) in sukuk bond transactions. The synergy and cooperation that we have established with our Group will only grow and strengthen.

As one of the major players in the league of participation banking, Türkiye Finans strives to raise awareness of interest-free banking instruments in order to provide momentum to the development of the sector, and carries out its efforts with determination to popularize participating banking practices, as set out in its strong vision.

Considering the provision of an increasing amount of support to the real sector through unique financial instruments and channels as its raison d’être, along with generating added value for its stakeholders, our Bank also reflects the results of such efforts to its performance.

As one of the major players in the league of participation banking, Türkiye Finans strives to raise awareness of interest-free banking instruments in order to provide momentum to the development of the sector and unwaveringly works to popularize participating banking practices in line with its strong vision.

We invite everyone to work with Türkiye Finans.

Through the combination of products and services which we provide in line with our principles, we strive to ease the lives of our customers and invite everybody to work with Türkiye Finans: Turkey’s Finance.

We are proud of our Bank and hope to share this pride, supported by our achievements with our stakeholders for many years to come. As long as we work in a faithful and determined manner, we will not be discouraged by any difficulty. I would like to take this opportunity to extend my gratitude to all of our stakeholders who have worked with Türkiye Finans.

Yours sincerely,

Mustafa BOYDAK
Chairman