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ALBARAKA TÜRK KATILIM BANKASI A.S.

(ALBRK)
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Albaraka Türk Katilim Bankasi : 13.01.2022 Currency Protected TL Participation Account Through Digital Channels In Albaraka!

01/14/2022 | 09:42am EST

Press Release

January 13, 2022

THE OPPORTUNITY TO OPEN "CURRENCY PROTECTED TRY PARTICIPATION ACCOUNT" THROUGH DIGITAL CHANNELS IN ALBARAKA

Turkey's first participation bank, Albaraka Türk, offers its customers the opportunity to open a "Currency Protected TRY Participation Account" through digital channels. Bank customers will continue to receive dividends by opening a "Currency Protected TRY Participation Account", while protecting their earnings against the increase in the exchange rate in gold and foreign currency.

Continuing its goal of being the best participation bank in the world and facilitating the lives of its customers with the products and applications it has implemented in this direction, Albaraka Türk has taken one more step and provided its customers with the opportunity to open a 'Currency Protected TRY Participation Account' through digital channels. With the Albaraka Currency Protected TRY Participation Account, the bank customers will continue to receive dividends for their Turkish lira savings, while protecting their returns against the exchange rate increase in gold and foreign exchange.

Regarding the issue, Mehmet Fatih Yorulmaz, Deputy General Manager of Albaraka Türk said that:

"As Albaraka Türk, we continue to stand by our customers with the support we provide for the "Currency Protected TRY Participation Account" product. With this product, our customers will be able to protect their savings against possible increases in gold and foreign currency, while continuing to invest in their participation accounts and receive profit share. Our customers can use our internet and mobile branches as well as our branches to switch to Currency Protected TRY Accounts. In addition, those who are not from Albaraka yet can join the Albaraka family via Video Call from anywhere."

Albaraka Türk, with its new Currency Protected TRY Participation Account, offers its customers the opportunity to prevent grievances that may occur regarding the fluctuations in gold and foreign exchange rates, while customers will be able to open the relevant account in 3, 6 and 12-month maturities via digital channels without visiting a branch to benefit from this service. In accordance with the principles of Participation Banking, only domestic customers will be able to benefit from the product, the rate of return of which is determined at the end of maturity. At the end of the maturity, the withholding tax rate to be applied specifically to the product will be zero (0), the lower limit for account opening will be TRY 250 and all account-related payments will be made in TRY.

Those who want to benefit from the product can open the relevant account through Albaraka Türk digital channels or log in and apply from the link below.

https://www.albaraka.com.tr/tr/bireysel/hesaplar/katilma-hesaplari/kur-korumali-tl-katilma-hesabi

ONLY FOR SERVICE

Does Not Contain Personal Data

Disclaimer

Albaraka Türk Katilim Bankasi AS published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 14:41:02 UTC.


© Publicnow 2022
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Sales 2021 2 460 M 182 M 182 M
Net income 2021 99,0 M 7,33 M 7,33 M
Net Debt 2021 - - -
P/E ratio 2021 14,2x
Yield 2021 -
Capitalization 2 498 M 186 M 185 M
Capi. / Sales 2021 1,02x
Capi. / Sales 2022 0,88x
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Free-Float 30,6%
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Mean consensus HOLD
Number of Analysts 2
Last Close Price 1,85 TRY
Average target price 1,94 TRY
Spread / Average Target 4,86%
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Managers and Directors
Malek Khodr Temsah General Manager & Director
Fehmi Göl Manager-Financial Affairs
Mazin Khairy Shaker Manna Director
Ahmet Koç President-Legislation & Compliance
Meliksah Utku Director