QNB signed its name under significant achievements in the name of its customers and shareholders
Dear Shareholders,
We are going through a period marked by escalating geopolitical risks globally, with the ongoing conflict in the Middle East continuing to exert a decisive impact, particularly on energy markets and trade balances. Disruptions in global supply chains and the sharp increase in energy prices are weighing on the global growth outlook while keeping inflationary pressures elevated. Amid persistent inflation risks, expectations for interest rate cuts by the Federal Reserve (Fed) have been postponed, while expectations for potential rate hikes by the European Central Bank (ECB) have increased. In March, rising uncertainty led to lowering of risk appetite among financial market participants, leading to capital outflows from emerging markets. In April, however, this trend moderated, with a partial reversal of capital outflows observed.
In Türkiye, the macroeconomic rebalancing process continues within the framework of the economic model implemented to combat inflation. In response to developments in global markets, the Central Bank of the Republic of Türkiye (CBRT) tightened its monetary policy stance through proactive measures, while supporting economic stability through steps targeting foreign exchange markets and liquidity conditions. In this context, the CBRT kept the policy rate unchanged at its Monetary Policy Committee (MPC) meeting in April. Meanwhile, the potential domestic impact of rising global energy prices has been mitigated through fiscal policy measures. Looking ahead, a decline in energy prices in parallel with geopolitical developments, coupled with a normalization in global markets, is expected to support a downward trend in inflation and interest rates, along with a recovery in economic activity.
We continued to deliver balanced and profitable growth amid increasingly volatile global conditions. Our strong balance sheet, diversified funding strategy, and disciplined risk management remained key pillars of our resilience during this period. As of March 31, 2026, our total assets increased by 8% compared to year-end 2025, reaching TRY 1,991,882 million. During the same period, net loans rose by 8% to TRY 1,164,563 million, while customer deposits increased by 6% to TRY 1,010,226 million. Our net income for the period amounted to TRY 15,747 million.
In line with our sustainability strategy and our 2050 Net Zero commitment, we continued to take decisive steps during this period. Since 2021, we have sourced 100% of our electricity consumption from I-REC certified renewable energy. In December 2025, we advanced this approach further by incorporating a 5 MW solar power plant (SPP) in Yozgat into our operations.
With this investment, we aim to meet approximately 80% of our Head Office’s electricity needs while achieving an annual reduction of around 5,000 tons of carbon emissions.Our strong position in international markets was once again reaffirmed through our transactions. Our USD 500 million eurobond issuance attracted strong demand from a broad and diversified investor base. This transaction not only reflects confidence in our strong credit profile and disciplined balance sheet management, but also reinforces our positioning among international investors.
In addition, in line with our objectives to strengthen our balance sheet and diversify our funding sources, we successfully completed a long-term securitization transaction totaling USD 380 million. Structuring USD 230 million of this transaction as sustainable financing represents another important step underscoring our commitment in this area.
Our strategic initiatives in digitalization and financial technologies also continued during this period. Through our subsidiary QNB eSolutions, we brought together e-document solutions and payment technologies under a single structure by investing in payment and collection technologies. This step enhances the services we offer to our customers through a more integrated approach while strengthening our position in the digital financial ecosystem.
At the same time, we continue to enrich customer experience through innovative collaborations. Following the GSPara digital banking application developed in partnership with Galatasaray Sports Club, the Fenerpara digital banking model launched in collaboration with Fenerbahçe Sports Club enables us to deliver financial services through next-generation platforms while enhancing user experience. Such collaborations strengthen our innovative approach and support our customer-centric growth strategy.
In the coming period, we will continue to closely monitor evolving dynamics and create value for all our stakeholders through our strong financial structure and sustainability-driven approach.
I would like to extend my sincere thanks to our valued employees, business partners, customers, and investors who contributed to these achievements.
Sincerely,
Ömür Tan
Chief Executive Officer
QNB Türkiye
