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22 A&T BANK ANNUAL REPORT 2015
A&T Bank will continue to
support Turkey’s vision of
accelerating export facilities.
MESSAGE FROM THE GENERAL MANAGER
Esteemed Shareholders, Business
Partners and Employees,
Worldwide economic activity
was lackluster during 2015 due
to the weak growth performance
of emerging markets. Global
geopolitical developments continue
to shape capital flows, commodity
prices and the risk perception of
international investors. Slow growth
in developing countries, particularly
in China, low commodity prices
and the impact of the European
Central Bank’s accommodative
policies on the recovery in the
Eurozone topped the world’s
economic agenda in 2015. In
addition, the 25 basis point interest
rate hike announced at the end
of the year by the Federal Reserve
Bank of the United States, points to
a smooth transition for the markets
that have been anticipating this
move for a long time.
After posting a real economic
growth rate of 2.9% in 2014,
the Turkish economy maintained
its standing as one of the fastest
expanding countries in the G20
by growing 3.4% in the first
three quarters of 2015. This was
achieved despite deterioration in
risk appetite for emerging markets
due to China-induced problems as
well as sharp fluctuations in foreign
exchange rates. Declining energy
prices helped to ease Turkey’s
current account deficit, as the
country imports most of its energy
needs, while also having a favorable
impact on inflation.
2015 figures reaffirm the strong
structure of Turkey’s banking
industry and its ability to adapt to
the economic cycle. Fiscal discipline
and macro-prudential policies
implemented in order to control
the current account deficit assisted
the Turkish banking industry in
recording a satisfactory growth
rate and maintaining sound asset
quality. The sector continues to
enjoy easy access to overseas capital
markets while total loans continues
to expand at a reasonable pace,
albeit slightly slower compared
to prior years. The industry’s
total assets grew 18.2% in 2015,
compared to year-end 2014,
climbing to TL 2,357.5 billion. On
the other hand, while net term
profit rose to TL 26,062 million
posting 5.9% increase year-on-year,
return on equity ratio went down
from 12.2% to 11.3%.
A&T Bank had a successful year
financially, maintaining healthy
balance sheet growth in 2015.
During the year, the Bank’s assets
grew 8.2% over 2014, rising to
TL 4 billion. Meanwhile, cash
loans and guarantees & warranties
amounted to TL 1.4 billion and
TL 2.4 billion, respectively. The
Bank’s shareholders’ equity
increased 13.1% to
TL 601.8 million during the past
operating year as the capital
adequacy ratio stood at a solid level
by 18.61%. Adapting quickly and
effectively to evolving economic
conditions, the Bank earned net
profit of TL 70.1 million. A&T
Bank’s return on assets and return
on equity ratios stood at 1.88% and
13.18%, respectively.
A&T Bank continued to support the
Turkish economy with a focus on
sustainable growth and a customer-
oriented business model. Despite
the geopolitical developments in
its main operating region, the Bank
continues to provide significant
support to customers in their
foreign trade finance transactions.
This is thanks to A&T Bank’s active
involvement in African market,
North Africa in particular, and the
Bank’s strong relationships with