We leave behind a year marked by important geopolitical and economic developments in the world and in our region. The world economy, which had followed a somewhat weak growth trend in recent years, posted a recovery in 2018, spearheaded by developed countries.

Turkey’s economy, after having achieved 7.4% growth in 2017, experienced a decline in its growth in 2018 as a result of the economic attacks it was exposed to, and which have no relation to the macroeconomic reality, as well as regional political tensions. On the other hand, Turkey succeeded in overcoming the financial volatility with its dynamic and sound financial infrastructure and proactive measures taken at the right times. By overcoming the volatilities in exchange rates, imposing tight fiscal discipline, offering employment incentives, injecting confidence in the market in line with the recommendations of the Banks Association of Turkey and by adopting and internalizing these practices throughout the economy, calm was restored to the economy, which stabilized. Ziraat Participation has fulfilled its mission in the economy, and continued to support the real sector and stand by its customers.

Ziraat Participation is the first publicly-owned participation bank to start participation banking operations in line with the principle of More When Shared (Paylaştıkça Daha Fazlası). Ziraat Participation continues to contribute to the national economy with its strong capital structure and in line with the balanced growth and sustainable profitability principles. Working to bring dynamism and depth to the sector, it meets the needs of its customers with its products in accordance with the principles of Islamic banking.

Ziraat Participation continues its activities with the aim of offering new products to the sector and simplified solutions to its customers with its human resources who are innovative and open to change. Ziraat Participation’s total asset volume increased by 55% compared to the previous period to reach TL 22 billion. With the funds it disbursed in line with the principles of participation banking, reached customers at the right time in line with their needs. Ziraat Participation adopted a customer-focused service approach as its main principle.

Ziraat Participation’s collected fund size increased by 51% compared to the previous period to reach TL 15 billion. In addition to the widespread fund distribution, the Bank also diversified its sources of funding with the lease certificates issued in 2018.

Within the framework of the sustainable profitability principle, Ziraat Participation increased its net profit for the period to TL 323 million, an increase of 103% compared to the previous period. Having completed 2017 with 63 branches, Ziraat Participation opened 17 new branches in 2018 and increased its total number of branches to 80. Adding dynamism to the sector with its extensive service network throughout the country and the different digital products which it provides to its customers, Ziraat Participation is striding confidently towards its goal of being present in every province of Turkey.

Ziraat Participation, which aims to reach its customers from every channel at every point of our country, offered services through 66 ATMs as of the end of 2018, when the organization had a total of 1,991 POS customers.

In 2019, Ziraat Participation will continue to increase its presence in participation banking and its share in the Turkish banking sector thanks to its balance sheet structure based on financing, its quality financing portfolio, its extensive and diversified resource structure and its 1,042 experienced staff.

Yours respectfully,
The Ziraat Katılım Board of Directors