Global economy left 2022 behind, which started with the war between Russia and Ukraine and increasing energy and commodity prices, disruption in supply chain with the impacts of the war, inflation outlook getting warmer globally, tightening monetary policies of central banks and uncertainties coming with all these factors.

Although the impacts of global developments are being felt in Turkey; the effects on those developments on the growth performance of our country’s economy were limited. Our country continues to keep its growth dynamism with the financial policies focused on investments, savings, production and export within the scope of Turkish Economy Model and Liraization strategy applied within the scope of the monetary policy conducted by the Central Bank.

Our Bank continues to provide long-term contribution to the economy of our country and our customers with total assets of TL 213.3 billion which increased by 117% when compared to 2021 and TL 3.8 billion of period income.

In addition to its rapid growth, our Bank provided value and depth to our sector and economy with its value added growth in 2022. While sustaining its healthy growth in funds extended and funds collected and keeping its asset quality, our Bank achieved successful results in financial terms primarily in credit-resource net profit share income and security income indexed to inflation.

Our Bank manages the size of its balance sheet by offering appropriate solutions for changing financial requests as well as maintaining credit quality. Cash credit balance increased by 118% to reach TL 144.9 billion. Total amount of cash and non-cash credits reached TL 190 billion.

In addition to balance sheet growth, actions were taken to strengthen financial performance in product and service range customer acquisition and structuring of service channels.

In 2022 operating year, our Bank presented its resources to the use of all sectors compatible with participation banking primarily real sector to contribute to development of the economy of the country as in previous years.

As the first publicly owned participation bank that started operations in participation banking in line with “More as We Share” principle, our Bank continues to contribute to national economy within the framework of sustainable profitability principles and demonstrates maximum effort to respond to the needs of our customers with products suitable with participation banking principles to bring dynamism and depth to the sector.

In this context, with its balance sheet structure based on financing which grows with sustainable profitability, efficiency and customer-focused structuring target, Ziraat Participation continues to work to provide the best service for its customers and our country.

Yours respectfully,

Ziraat Participation Board of Directors