Limited positive opinion news for QNB Finansbank’s balance sheet
FINANSGUNDEM.COM – EXCLUSIVE NEWS
In the annual report of QNB Finansbank, which closed last year with a profit of 17.2 billion liras, the independent audit company expresses a limited positive opinion. The following details are given as the reason for the limited positive opinion in the letter of the independent audit company pwc, which started with the title ‘To the Board of Directors of QNB Finansbank’:
“As we have also informed in our auditor’s reports dated 31 January 2023 regarding the full set of unconsolidated and consolidated financial statements of the Bank for the accounting period of 1 January 2022 – 31 December 2022, in the full set of unconsolidated and consolidated financial statements prepared as of 31 December 2022, the BRSA management has Except for the requirements of the Accounting and Financial Reporting Legislation, there is a free provision amounting to a total of 5,400,000 thousand TL, all of which are written off as expense in the current period.”
Omer Aras, Chairman of the Board of Directors The message published by the bank in its annual report says: “Dear shareholders; We left the year 2022 behind with the ongoing war in Europe and the energy crisis in parallel with the war, food supply problems, high inflation and tight monetary policy practices. While the Turkish economy was experiencing the high double-digit inflation period again in 2022, it struggled with the global energy crisis, the depreciation of the Turkish Lira in parallel with the interest rate hikes by the central banks of developed countries, and all related problems. Forecasts for 2023 point to a period when the problems of 2022 are not over yet and global recession signals are given. While China’s loosening of lockdown measures is good news for the supply chain, there are concerns that the possible raising effect on raw material and energy prices will raise inflation again.”
Gegulations affected the banking sector
General Manager Omur Tanin the annual reportMessage from the General ManagerHe draws attention to the following points in his statements entitled:
“Dear shareholders and board members, world; The year 2022 was spent with high inflation, the war in Europe, a slowdown in economic activity, a bottleneck in the supply chain and an energy crisis. The inflationary environment in Turkey, which was also created by the impact of global developments, had a decisive impact on economic conditions, especially on banking activities. Numerous regulatory changes made in parallel with economic developments and expectations directly affected the banking sector. Depending on this situation, we have experienced that the strategic targets of the banks change periodically, and the competition in banking has shifted from conventional products to different products.”
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