Chairman's Message
Founded 60 years ago as a local bank, Akbank rightly takes pride in being “Turkey's most valuable bank” today. Our success is underpinned by three key factors: a sound and strong capital structure, commitment to stable growth and the broad vision of our management. I have no doubt that we will build on this success further as we now move with acceleration to become a global player powered by our stable financial structure.
In recent years, the Turkish banking sector has developed partnerships with major and reputable banks of the world through mergers and acquisitions, as a result of which the foreign share in total assets has risen from 3% to 26% in a couple of years; and the share of bank assets in national income has reached 85% in 2007.
Compared with the rest of the banking sector over the last decade;
- Akbank achieved 26% annual growth in assets, against an average of 18% for the sector.
- Akbank achieved 26% annual growth in deposits, against an average of 17% for the sector.
- Akbank achieved 32% annual growth in loans, against an average of 19% for the sector.
- Akbank achieved 32% annual growth in profitability, against an average of 18% for the sector.
Thanks to our restructuring program, the “New Horizons”, which was implemented between 2001-2005, our Bank has today taken the lead and shaped the competition in the sector that has already attained competitiveness by international standards. In this restructuring process, the Akbank management has accomplished a radical transformation in many areas from the centralization of operations to the delivery of innovative products, to the adoption of a customer focused concept of organization, and to the use of more advanced methods of profitability and performance measurement. It has taken major steps towards an improved operational efficiency and a stronger corporate identity, ensured adoption of the concept of corporate governance throughout the operations of the Bank and further strengthened the perfectionist approach in openness, integrity and transparency. Today Akbank is a bank with the highest market value at the Istanbul Stock Exchange. The fact that our Bank has become Turkey's most valuable bank is underpinned by this process of radical transformation and comprehensive restructuring.
The strategic partnership agreement we made with Citigroup by transferring 20% of Akbank shares in 2006 creates significant opportunities for moving our Bank onto the international arena and towards our objective to become an active global player.
The leadership role played by Mr. Erol Sabancı uninterruptedly for 45 years has been decisive in our Bank's present position today. I consider it a duty to express my thanks to Mr. Erol Sabancı on behalf of all stakeholders of Akbank for his guidance. I am very happy to know that Mr. Erol Sabancı will continue working in Akbank as the Honorary Chairman of the Board of Directors with his 45 years' experience and will be right by our side with all his support as a member and Advisor of the Board of Directors as we move forward to achieve new goals.
Since the beginning, Akbank has been the most systemic, the most serious and the toughest “banking school” in Turkey. Like before, we will maintain our position as the most favorite and the most acknowledged Turkish bank by contributing ever more to our sector, to our organization and to ourselves. Thanks to the surpassing differentiation we have created, we will continue offering our customers a unique experience, further enriching their lives and providing them the best banking experience in Turkey.
Our strategic goal is making our Bank also an active global player, creating a high and sustainable value for our stakeholders without compromising our commitment to customer focused banking. The corporate and professional management structure, the “Akbank” brand that has become a symbol of confidence and innovation, and the high standard well established ethical values will enlighten our path as our Bank moves forward with confident steps towards its new goals.
To this end, we rely most on the dedicated work of our employees, who are the best in the sector, the continued support of our shareholders, and the powerful synergy we have created with all our stakeholders. Therefore, I would like to take this opportunity to thank all our employees, shareholders and social stakeholders.
Yours sincerely,
Suzan Sabancı Dinçer
Chairman's Message
