Odeabank Welcomed 2022 with Growth​

Despite the challenges posed by the pandemic in both domestic and foreign markets over the past two years, Odeabank successfully also concluded 2021 with growth. In 2021, Odeabank achieved a net profit of 206 million Turkish lira, marking a year-on-year increase of 53 percent. Odeabank CEO Mert Öncü stated, “We successfully sustained our growth during the pandemic-affected year of 2021.”

Odeabank, Türkiye’s young, dynamic, and innovative bank, concluded the year 2021 with growth despite challenges in the Turkish and global economy. In 2021, Odeabank achieved a net profit of 206 million Turkish lira, marking a year-on-year increase of 53 percent. Also in 2021, Odeabank boosted its assets to 55.5 billion Turkish lira with a year-on-year increase of 39 percent and its deposits to 38.4 billion Turkish lira with a year-on-year increase of 50 percent.

Odeabank’s total gross loans rose to 27.6 billion Turkish lira with an increase of 30 percent, while its non-cash loans reached 8.7 billion Turkish lira with a year-on-year increase of 61 percent. Accordingly, the resources provided to the real economy reached 36.3 billion Turkish lira. The growth of Odeabank’s TRY loans continued in the fourth quarter of 2021, reaching 11.3 billion Turkish lira with a year-on-year increase of 18 percent.

While increasing its deposits to 38.4 billion Turkish lira, Odeabank maintained its core capital ratio and capital adequacy ratio above the industry average, standing at 12.5 percent and 25.7 percent, respectively, due to careful asset management and a strong equity structure. Odeabank’s fund volume increased to 3.4 billion Turkish lira, thanks to the diverse investment funds offered to customers, while the share of demand deposits in total customer deposits reached 21.1 percent. Odeabank achieved an increase in non-deposit assets under management to 5 billion Turkish lira through effective management and product diversification.

Öncü: We Will Continue to Focus on Sustainable Growth

Odeabank CEO Mert Öncü commented on the bank’s financial results for 2021: “The year 2021 has been challenging for the financial industry, both in Türkiye and around the world. Despite the economic fluctuations in Türkiye and around the world, we continued to successfully execute our customer-oriented strategy. We continued our operations with a greater emphasis on efficiency and risk management. During this period, we primarily focused on improving customer satisfaction and maintaining sustainable growth. In addition to significant growth achieved primarily in financing foreign trade, asset management, and investment products, we successfully improved customer satisfaction. This satisfaction motivates us to invest more in these areas. In the coming period, Odeabank will continue to create added value for the Turkish economy and contribute to Türkiye’s economic growth with the support of its stakeholders.

We are working to increase our presence in digital transactions. The introduction of remote account opening has enhanced the speed of our new customer acquisition process. We will further these efforts throughout the year.

In 2022, we will continue our strategy of cautious and sustainable growth, while closely following the developments in global finance and managing our risks. We strive to be a bank that is ‘more than meets the eye,’ offering next-generation services through the phygital banking approach to best serve our customers by combining our physical and digital experiences. This year will mark the 10th anniversary of Odeabank, Türkiye’s young, dynamic, and innovative bank. During our 10th anniversary, we will continue our efforts to provide the best savings and investment products in Türkiye and the region by leveraging the wide range of products we offer to our customers.”

Öncü: We have made a difference through our social investments.

Sharing details about Odeabank’s social initiatives in 2021, Mert Öncü continued, “The financial successes we attained in 2021 were inextricably linked to our social projects. And this proved to be true.” We also carried out efforts to benefit society through various social responsibility activities with a range of NGOs. As a signatory of the UN Women’s Empowerment Principles, we launched the ‘Fair Tales’ social responsibility project to promote gender equality, reaching 400,000 children.” We also adapted Fair Tales into a children’s play. Also, we became the first and only bank in Türkiye to join the Unstereotype Alliance Türkiye National Chapter, which aims to transform negative gender stereotypes in advertising content.”