Under chief executive Hakan Binbasgil, Akbank demonstrated an innovative and proactive approach to small and medium-sized enterprise banking during the awards period, despite the difficult operating environment in its home market of Turkey.
Building on a SME coverage network that extends across the country, deploying more than 1,000 SME specialists, Akbank saw a strong increase in Turkish SME market share in 2022, from 10.5% to 12%. The range of initiatives that Akbank boasts in SME banking, particularly in the digital area, makes it easy to understand why the bank has seen this growth.
One particularly successful initiative was a new cash-back programme for new and returning customers, based on their usage of Akbank’s mobile app, commercial debit and credit cards, automatic invoicing and other services. The campaign resulted in a sharp increase in customer acquisitions and cross-selling, giving the bank a strong revenue boost.
The bank’s mobile-based ‘beyond banking’ projects are also noteworthy. It offers discounted membership to Mukellef – an online platform to help entrepreneurs manage the administrative requirements of setting up a new company – and to Propars, which allows users to set up stores in Turkey and overseas, and to transact in different markets from a single screen.
Another Akbank collaboration is with Usersdot, an e-commerce analytics platform. Separately, the bank offers special advantages to SME suppliers of Turkish online marketplaces such as Hepsiburada, Trendyol, n11, CicekSepeti and Teknosa, including free money transfers, interest-free overdrafts, discounted point-of-sale commissions and cash back.
In addition to participating in Turkish state-backed programmes to assist exporters and SME working capital financing, Akbank signed a new $50 million syndicated loan agreement with the European Bank for Reconstruction and Development in September. This will further boost its financing of female entrepreneurs, following the success of a similar credit line extended in 2021.
In addition, Akbank launched a new campaign to raise awareness of green transformation among SMEs alongside the Turkish Enterprise and Business Confederation, and German non-profit institute the Konrad Adenauer Foundation. It had previously set up the Akbank Transformation Academy to help the digitalization and financial management of SMEs in Turkey through initiatives such as seminars, training programmes and networking.
