CEE's best digital bank 2019: Akbank
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CEE's best digital bank 2019: Akbank

Awards for Excellence 2019

Stiff competition and a large, young, dynamic population have provided fertile conditions for the development of digital banking in Turkey and created some of the most tech-forward lenders in CEE.

Even by Turkish standards, however, Akbank stands out. Early adoption of a mobile-first strategy and copious investment in innovation have propelled the lender past rivals such as Garanti BBVA in recent years, as well as making a substantial contribution to its bottom line.

Akbank boasts five million active users of its digital channels, while take-up of mobile banking services topped 60% last year. Growth in the number of mobile banking users has slowed slightly from the initial highs but is still running at around 20% a year.

The conversion of this digital penetration into sales has been particularly impressive, with 70% of general purpose loans and around half of credit card sales taking place outside branches. This has not only boosted fee generation – by 30% last year, even allowing for inflation of around 20% in Turkey – but also driven a substantial reduction in costs.

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