Latest news with #Turkcell
Zawya
4 days ago
- Business
- Zawya
DIB Reports robust H1'25 financial results, with operating revenue of AED6.4bln driving a 16% increase in pre-tax profit to AED4.3bln
RELATED TOPICS EARNINGS RELATED COMPANIES Tom Group Turkcell DLD Significantly improved asset quality Balance sheet expands beyond the USD 100 Billion mark Key H1'25 Performance Metrics *YoY refers to the variance of H1'25 and H1'24 (on annualised basis) DIB showcased another robust performance in the first half of 2025, with operating revenue of AED 6.4 billion, driving a 16% YoY increase in pre-tax profit to AED 4.3 billion. Double-digit growth in financing and deposits, coupled with improved asset quality, underpinned another historic milestone as the balance sheet surpassed the USD 100 billion mark. H1'25 Performance Highlights: Profitability: Pre-tax profit advanced 16% YoY to AED 4.3 Bn, supported by 5% increase in topline driven by strong volumes across all business lines. Net profit grew to AED 3.7 Bn as core business momentum continues, reflecting an improvement in cost of risk. Impairment charges declined 61% YoY to AED 256 Mn, driven by prudent underwriting and effective risk management, further contributing to growing profitability. Balance Sheet: Balance sheet expanded by 8% YTD to AED 373 Bn, surpassing the USD100 Bn mark. Net Financing Assets grew 12% YTD to AED 237 Bn, reflecting healthy demand across key customer segments. On the wholesale front, both local and cross-border businesses contributed to this growth across sectors such as sovereigns, utilities, and aviation. The consumer business also recorded solid growth across all product lines. Sukuk portfolio grew 9% YTD to AED 89 Bn. This portfolio largely comprises of high-quality and well-rated sovereigns and FIs. Customer Deposits rose 14% YTD to AED 284 Bn, underpinned by robust customer acquisition and retention. CASA balances grew 8% YTD to AED 102 Bn, now accounting for 36 % of total deposits. Asset Quality: NPF ratio fell by 64 bps YTD, improving to 3.36%, reflecting enhanced asset quality and strong recoveries. Cash coverage ratio improved by 600 bps YTD to reach 103% with total coverage ratio improved to 145%. Capital and Liquidity: Strong capitalisation, reflected by CET1 ratio of 13.0% and CAR of 16.7%, well above regulatory minimums. Healthy liquidity position, evidenced by LCR of 128% and NSFR of 107%. The Intelligence Behind Ethical Progress Driven by our commitment to ethical innovation, DIB has integrated AI as a strategic lever across the bank. Whilst AI at DIB is targeted at building efficiency, precision, and inclusion in every process and interaction, it is human-led governance that ultimately defines our approach in this space. This responsible use of technology has translated into measurable gains in service delivery, portfolio growth, and operational control: 20% faster service delivery, enabled by AI-led process redesign. 80% reduction in model build time through cloud and big data integration. 35% of retail acquisitions supported by AI-powered targeting. 100,000+ underserved customers reached via AI-based credit scoring models. 30% reduction in false positives in risk alerts via AI prioritisation models. 10% automation of back-office operations, improving turnaround and accuracy. 80% faster social media moderation, enhancing reputation responsiveness. Looking ahead, DIB will scale its AI capabilities to not only unlock deeper insights, faster execution, and greater inclusion across all segments, but ultimately to drive our ethos of creating 'Happiness with Tech'. H1'25 Business Performance: DIB's New Gross Underwriting and Sukuk Investments in H1'25 exceeded AED 60 Bn, marking a strong 47% YoY increase from AED 43 Bn in H1'24. This growth was driven by sustained momentum across both retail and corporate segments, which recorded YoY increases of 46% and 78%, respectively. Net financing assets in Consumer Banking grew over 13% YTD to reach AED 71 Bn. Gross new underwriting in the segment totaled nearly AED 18 Bn in H1'25, 46% higher compared to H1'24. The business also added nearly 60,000 new customers, with deposits increasing by 9% YTD. Local and Cross-border corporate banking portfolio reached AED 166 Bn, up 11% YTD. Total gross new underwriting in H1'25 amounted to AED 31 Bn, 78% higher than H1'24. Growth was largely driven by strong demand across key sectors, including utilities, aviation, and financial services among others. The bank's customer base in the UAE surpassed 1.6 Mn, marking a 4% YTD increase, 80% of the new clients were onboarded through digital channels. Fully committed to the UAE's national agenda of mobilising AED 1 Trillion in sustainable finance by 2030, DIB continues to expand its portfolio of sustainable assets, recording AED 2.7 Bn in new financing during H1'25. This was in addition to facilitating nearly AED 14 Bn in Islamic capital market issuances (Sukuks) within the green and sustainability space. A Landmark Year: The bank celebrated its 50th anniversary this year, a historic milestone reflecting five decades of pioneering Shariah-compliant banking. Since its inception in 1975, DIB has played a leading role in shaping the global Islamic finance landscape and now serves more than 5 Mn customers globally. The year also witnessed the unveiling of a new corporate identity, reinforcing a vision centred on innovation, sustainability, and purpose-driven growth. Key Collaborations, Deals and Initiatives: In support of national housing goals, the bank partnered with Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) on a strategic initiative aligned with the Dubai Government's First Time Home Buyer Programme. The collaboration aims to make home ownership more accessible for both UAE residents and foreign investors seeking to take their first step onto the property ladder. DIB signed a USD 150 Mn Murabaha financing agreement with Turkcell, Türkiye's leading telecommunications and technology services provider. The facility will support Turkcell's digital infrastructure investments and further reinforces the bank's commitment to enabling the real economy through structured Islamic finance. DIB Academy was officially launched this year as a flagship learning and development platform dedicated to enhancing the capabilities of the bank's workforce. Designed to equip employees with future-focused skills and strategic expertise, the Academy marks a key milestone in DIB's long-term talent development roadmap. It will also serve as a bridge to potential collaborations with academic and regulatory institutions in the years ahead, aligning closely with the UAE's human capital development agenda. His Excellency Mohammed Ibrahim Al Shaibani Director-General of His Highness The Ruler's Court of Dubai and Chairman "The strength of an economy is measured by its capacity to grow responsibly, remain rooted in core principles, and maintain stability amid change. The United Arab Emirates has consistently exemplified these attributes. In the face of evolving global dynamics, it continues to stand as a model of resilience and foresight, underpinned by leadership that harmonises ambition with purpose. The financial sector plays a central role in reinforcing this foundation. Within it, DIB has sustained its performance through sound governance and a steadfast commitment to value-based banking. The results delivered in the first half of the year reflect a legacy of progress shaped by five decades of alignment with the nation's development agenda. This year marks a defining milestone in that journey. Since its founding in 1975, DIB has evolved into a leading Islamic financial institution, with more than AED 65 billion in market capitalisation and AED 370 billion in assets. In the first half of 2025, the bank surpassed USD 100 billion in total assets. This is a marker not only of scale, but also of adaptability and nimbleness to respond to the everchanging global landscape. This progress affirms the strength of a long-term strategy grounded in trust, resilience, and clarity of purpose. As we reflect on fifty years of achievements, I remain deeply confident in DIB's ability to navigate the evolving financial landscape. Our strong governance, long-term outlook, and enduring commitment to responsible growth ensure that the bank is well-positioned to continue creating lasting value to all stakeholders. To the Board of Directors, our shareholders, our customers, and the thousands of employees who have shaped this institution, I extend my sincere appreciation. DIB's journey has been defined by trust and collective commitment. That same foundation will continue to guide our journey in the years to come." Dr. Adnan Chilwan Group Chief Executive Officer of DIB 'As we advance through this landmark year, marking five decades since DIB's founding, our first-half performance reflects disciplined execution in clear alignment with the direction defined at the outset of our current growth agenda. The milestone of surpassing USD 100 billion in total assets is not a measure of scale alone, but of a deeply ingrained intent. It is a reflection of disciplined execution against a long-term strategy to transform a concept into a global norm. Despite the volatilities around we delivered a significant 16% rise in pre-tax profit which exceeded AED 4.3 billion. Whilst the introduction of corporate tax this year adds a new element, our post-tax profit also came in strong at AED 3.7 billion, a solid increase of 10%. The robust profitability has led to an equally strong return on equity of 21%. It is important to note that the recent 12-month period, has also demonstrated market confidence in the management and franchise strategy as reflected in the share price movement. Equally important is the continued improvement in asset quality. With the NPF ratio now at 3.36%, the lowest in five years, we are seeing the outcome of a deliberate and embedded approach to risk that supports growth without compromising resilience. Looking ahead, our focus remains firmly on the substance of our strategy. Islamic finance must move beyond structure to deliver meaningful impact, serving as a platform for real economic progress. It is this clarity of purpose that ensures progress never stops.' For the remainder of 2025, DIB will focus on sustaining profitable growth while deepening its role as a leading force in Islamic finance. The bank aims to strengthen its capital position, broaden its high-quality asset base, and advance sustainable financing in alignment with the UAE's national agenda. Expansion into high-potential segments and geographies will be matched with continued investment in digital capabilities and enhanced customer experiences. Guided by disciplined execution and strong governance, DIB remains well-positioned to create lasting value for shareholders, customers, and the wider community. Awards: H1'25 Select DCM and Syndicated Deals: H1'25 About DIB: Established in 1975, DIB is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full service Islamic bank and amongst the largest Islamic banks in the world. With Group assets now exceeding USD 100 Bn and market capitalisation of more than USD 17 Bn, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah-compliant products and services to retail, corporate and institutional clients. In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, The launch of Panin Dubai Syariah Bank in Indonesia early marked DIB's first foray in the Far East, with a stake of nearly 25% stake in the Indonesian bank. Additionally, DIB was given the licence by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in UAE. The acquisition of Noor Bank has solidified its position as a leading bank in the global Islamic finance industry. Recently, DIB has successfully acquired minority stake of 25% of T.O.M. Group which provides digital banking services in Türkiye. The bank's ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the 'Best Islamic Bank' in various prestigious ceremonies marking the bank's leadership position in the Islamic finance sector. As a progressive Islamic financial institution, DIB embraces the opportunities and challenges associated with integrating sustainability into its business by delivering sustainable products and services and by advancing the green and social composition. 2025 marked DIB's Golden Jubilee, with a Bold New Vision for the Future to be prepared to meet the challenges ahead and continue building a legacy of success for the years to come.
Yahoo
15-07-2025
- Business
- Yahoo
Turkcell Iletisim (TKC) Deepened its Partnership with A10 Networks
Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) is one of the . On June 30, Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) announced that it is deepening its partnership with A10 Networks to enhance its network infrastructure. Both companies together have developed a robust carrier-grade NAT system with integrated security features. Under this partnership, Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) is using 10's advanced software to accelerate the virtualization of its network. The partnership leverages A10's scale-out architecture, allowing the company to dynamically scale services as traffic grows. In addition, real-time monitoring and advanced telemetry provide better network visibility and faster issue resolution. A mid-rise office building bustling with employees working on various telecom projects. Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) is a Turkish telecommunications and technology company. It provides a wide range of services, including mobile and fixed voice, data, messaging, broadband, IPTV, and digital services. While we acknowledge the potential of TKC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al Bawaba
04-07-2025
- Business
- Al Bawaba
Turkcell, Beko, Ericsson: XR meets 5G in new R&D project
Turkcell, Beko, and Ericsson (NASDAQ: ERIC) have implemented the EU-supported VERGE project to develop next-generation communication technologies. R&D teams in Istanbul and Eskişehir collaborated in real-time over 300 km for the first time in Türkiye, using an eXtended Reality (XR) environment for industrial product design. At the project launch workshop, participants experienced a 5G-powered industrial design demo supported by XR VERGE Project, carried out jointly by Turkcell, a pioneer of innovative technologies in Türkiye, Beko, Beko, a leading home appliances company in Europe, and Ericsson, a global leader in information and communication technology, has been successfully results of the project, which aims at strengthening Türkiye's digital production and R&D ecosystem, were shared during an organized workshop. As part of the event, a test study was carried out with a 5G connection established between Beko's R&D Center in Eskişehir and Turkcell Kartal Plaza, which is approximately 300 km away. The R&D teams in both cities collaborated simultaneously via XR glasses by examining and carrying out joint three-dimensional product designs on a shared digital platform without being physically in the same environment. This marked the first application of remote, real-time industrial product design in Tü event, hosted by Turkcell, brought together Prof. Dr. Vehbi Çağrı Güngör, Chief Technology Officer of Turkcell; Yekta Caymaz, Executive Director of Information Technologies at Beko; Mehmet Oğul, General Manager of Ericsson Türkiye; and Prof. Dr. Oriol Sallent, VERGE Project Coordinator. Additionally, EU project referees and specialists from Turkcell and Ericsson's TÜBİTAK-supported R&D laboratories were in the project's significance in advancing Türkiye's ambition to not only utilize but also develop cutting-edge technology, Prof. Dr. Vehbi Çağrı Güngör, Chief Technology Officer of Turkcell, says: 'Türkiye's 12th National Development Plan positions digital transformation applications as one of the priority areas in line with sustainable and inclusive growth targets. Under Turkcell's leadership and supported by the European Union's R&D efforts, the VERGE Project enhances advanced technological competencies in next-generation networks and edge computing. This initiative aims to strengthens Türkiye's digital infrastructure and reinforces its role within the international R&D ecosystem through collaborative innovation.'Speaking at the workshop, Yekta Caymaz, Executive Director of Information Technologies at Beko, says: 'The high speed, low latency, and wide connection capacity enabled by 5G technology constitute the cornerstones of digital transformation. At Beko, we place great emphasis on harnessing this technological potential to develop innovative applications efficiently. Our collaboration with Turkcell and Ericsson through the VERGE project has significantly strengthened this ecosystem. Thanks to the solutions developed, our R&D teams can now collaborate in real-time from different cities or even across the globe. This approach not only accelerates design processes and boosts efficiency but also contributes significantly to sustainable design and enhanced product quality through XR technologies. Projects like these represent investments not only in technology but also in innovation, entrepreneurship, and sustainability. Guided by this vision for our digital transformation journey, Beko continues to shape the future.'Mehmet Oğul, General Manager of Ericsson Türkiye, says: 'Our collaboration with Turkcell and Beko marks a significant step in strengthening Türkiye's digital production ecosystem. The advantages offered by 5G, such as low latency and high speed, enable more efficient and interactive industrial design processes. We view this project as a valuable contribution not only to technology, but also to innovation and sustainability. Ericsson remains committed to supporting Türkiye's digital transformation with our vision of shaping the future of communication technologies.'The higher speeds, lower latency, and wide connection capacity of 5G enable industrial design processes to become more efficient and interactive across long distances and between different locations. This technological advancement accelerates product development processes regardless of location and enhances global competitiveness. Leveraging 5G's network slicing capabilities — which offer optimized resource usage, enhanced security, and flexibility — can drive digital transformation across multiple sectors. In the test between Istanbul and Eskişehir, large-scale 3D product design models were instantly captured in product lifecycle management (PLM) software via a 5G infrastructure, effectively eliminating geographic barriers and reducing costs. The project also implements network slicing on the 5G Radio Access Network (RAN), with AI-driven, autonomous network resource management. This innovative approach is aimed at accelerating digital transformation in industrial design processes and different sectors.
TECHx
03-07-2025
- Business
- TECHx
Ericsson, Beko Turkcell Advance XR Design with 5G in Türkiye
Home » Smart Sectors » Telecom » Ericsson, Beko, Turkcell Advance XR Design with 5G in Türkiye Ericsson, Beko, and Turkcell have announced the successful implementation of the EU-supported VERGE Project. The project focused on developing next-generation communication technologies in Türkiye. For the first time in the country, R&D teams collaborated in real time over a 300 km distance between Istanbul and Eskişehir. They used an eXtended Reality (XR) environment for industrial product design. The launch workshop featured a live demo of 5G-powered industrial design using XR glasses. This marked a milestone in Türkiye's digital transformation journey. The VERGE Project was carried out jointly by Turkcell, Beko, and Ericsson. It aimed to strengthen Türkiye's digital production and R&D ecosystem. The final results were revealed during a dedicated workshop. A live test connected Beko's R&D Center in Eskişehir with Turkcell Kartal Plaza in Istanbul. Using XR glasses, R&D teams in both locations designed 3D products on a shared digital platform. This was the first instance of remote, real-time industrial product design in Türkiye. The event brought together key executives and experts: Prof. Dr. Vehbi Çağrı Güngör, CTO of Turkcell Yekta Caymaz, Executive Director of IT at Beko Mehmet Oğul, General Manager of Ericsson Türkiye Prof. Dr. Oriol Sallent, VERGE Project Coordinator Specialists from TÜBİTAK-supported R&D labs and EU project referees also attended. Speaking at the event, Prof. Dr. Güngör emphasized the strategic importance of the project. He noted it aligns with Türkiye's 12th National Development Plan, which prioritizes digital transformation. He also highlighted that the project enhances technological competencies in edge computing and next-gen networks. Beko's Yekta Caymaz reported that 5G's high speed, low latency, and capacity boost collaboration. He said the project improved efficiency, sustainability, and product quality through XR applications. Ericsson Türkiye's General Manager, Mehmet Oğul, described the project as a key step for advancing the country's digital ecosystem. He confirmed that 5G capabilities like low latency and high speed enable interactive and efficient design. The 5G infrastructure used in the project featured network slicing, AI-driven resource management, and integration with product lifecycle management (PLM) software. This setup: Eliminated geographic barriers Reduced R&D costs Accelerated product development Ericsson revealed that these technologies strengthen competitiveness and support future innovation across sectors. The companies concluded that the VERGE Project is a valuable contribution to Türkiye's global role in communication technologies.
Zawya
03-07-2025
- Business
- Zawya
Turkcell, Beko, Ericsson: XR meets 5G in new R&D project
Turkcell, Beko, and Ericsson (NASDAQ: ERIC) have implemented the EU-supported VERGE project to develop next-generation communication technologies. R&D teams in Istanbul and Eskişehir collaborated in real-time over 300 km for the first time in Türkiye, using an eXtended Reality (XR) environment for industrial product design. At the project launch workshop, participants experienced a 5G-powered industrial design demo supported by XR glasses. The VERGE Project, carried out jointly by Turkcell, a pioneer of innovative technologies in Türkiye, Beko, Beko, a leading home appliances company in Europe, and Ericsson, a global leader in information and communication technology, has been successfully concluded. The results of the project, which aims at strengthening Türkiye's digital production and R&D ecosystem, were shared during an organized workshop. As part of the event, a test study was carried out with a 5G connection established between Beko's R&D Center in Eskişehir and Turkcell Kartal Plaza, which is approximately 300 km away. The R&D teams in both cities collaborated simultaneously via XR glasses by examining and carrying out joint three-dimensional product designs on a shared digital platform without being physically in the same environment. This marked the first application of remote, real-time industrial product design in Türkiye. The event, hosted by Turkcell, brought together Prof. Dr. Vehbi Çağrı, Güngör Chief Network Technologies Officer of Turkcell; Yekta Caymaz, Executive Director of Information Technologies at Beko; Mehmet Oğul, General Manager of Ericsson Türkiye; and Prof. Dr. Oriol Sallent, VERGE Project Coordinator. Additionally, EU project referees and specialists from Turkcell and Ericsson's TÜBİTAK-supported R&D laboratories were in attendance. Highlighting the project's significance in advancing Türkiye's ambition to not only utilize but also develop cutting-edge technology, Prof. Dr. Vehbi Çağrı, Güngör Chief Network Technologies Officer of Turkcell, says: 'Türkiye's 12th National Development Plan positions digital transformation applications as one of the priority areas in line with sustainable and inclusive growth targets. Under Turkcell's leadership and supported by the European Union's R&D efforts, the VERGE Project enhances advanced technological competencies in next-generation networks and edge computing. This initiative aims to strengthens Türkiye's digital infrastructure and reinforces its role within the international R&D ecosystem through collaborative innovation.' Speaking at the workshop, Yekta Caymaz, Executive Director of Information Technologies at Beko, says: 'The high speed, low latency, and wide connection capacity enabled by 5G technology constitute the cornerstones of digital transformation. At Beko, we place great emphasis on harnessing this technological potential to develop innovative applications efficiently. Our collaboration with Turkcell and Ericsson through the VERGE project has significantly strengthened this ecosystem. Thanks to the solutions developed, our R&D teams can now collaborate in real-time from different cities or even across the globe. This approach not only accelerates design processes and boosts efficiency but also contributes significantly to sustainable design and enhanced product quality through XR technologies. Projects like these represent investments not only in technology but also in innovation, entrepreneurship, and sustainability. Guided by this vision for our digital transformation journey, Beko continues to shape the future.' Mehmet Oğul, General Manager of Ericsson Türkiye, says: 'Our collaboration with Turkcell and Beko marks a significant step in strengthening Türkiye's digital production ecosystem. The advantages offered by 5G, such as low latency and high speed, enable more efficient and interactive industrial design processes. We view this project as a valuable contribution not only to technology, but also to innovation and sustainability. Ericsson remains committed to supporting Türkiye's digital transformation with our vision of shaping the future of communication technologies.' The higher speeds, lower latency, and wide connection capacity of 5G enable industrial design processes to become more efficient and interactive across long distances and between different locations. This technological advancement accelerates product development processes regardless of location and enhances global competitiveness. Leveraging 5G's network slicing capabilities — which offer optimized resource usage, enhanced security, and flexibility — can drive digital transformation across multiple sectors. In the test between Istanbul and Eskişehir, large-scale 3D product design models were instantly captured in product lifecycle management (PLM) software via a 5G infrastructure, effectively eliminating geographic barriers and reducing costs. The project also implements network slicing on the 5G Radio Access Network (RAN), with AI-driven, autonomous network resource management. This innovative approach is aimed at accelerating digital transformation in industrial design processes and different sectors. ABOUT ERICSSON: Ericsson's high-performing networks provide connectivity for billions of people every day. For nearly 150 years, we've been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality.
