Kuveyt Turk to Provide Nearly 45 Billion Turkish Lira Funding to the Agricultural Sector in 2024

Abdurrahman Delipoyraz, Deputy General Manager responsible for SME Banking at Kuveyt Turk, announced plans to allocate approximately 45 billion Turkish Lira in financing to the agricultural sector in 2024. Delipoyraz shared this strategic initiative during the Konya Agricultural Fair, emphasizing Kuveyt Turk’s commitment to supporting farmers with special products and services tailored to their needs.

At the exhibition, Kuveyt Turk showcased its offerings, including mobile account opening services, immediate harvest-payment Seed Cards, and financial leasing options for the agricultural sector.

Empowering Farmers through Digital Solutions

Kuveyt Turk is actively supporting customers who open accounts through mobile banking, providing exclusive gifts and campaigns valued up to 2,300 Turkish Lira. As part of its comprehensive agricultural banking framework, the bank offers various services, including support for plant production, dairy and livestock farming, tractor financing, and more.

The institution facilitates the financing of agricultural machinery investments through leasing, offering long-term, cost-effective solutions. Furthermore, payment periods are strategically planned to align with harvest times and production cycles, allowing flexibility for producers and companies operating in the agricultural sector.

Digital Transformation for Enhanced Accessibility

Abdurrahman Delipoyraz highlighted Kuveyt Turk’s commitment to digitizing processes to better serve the needs of farmers. “We have facilitated remote account openings for farmers and pioneered mobile-based account initiation. We have enabled end-to-end digitalization to allow farmers to access remote credit allocation. Additionally, we have collaborated with places where farmers shop, offering them more affordable and convenient options,” Delipoyraz explained.

Ambitious Growth for Tohum Kart

Delipoyraz emphasized the success of the Tohum Kart application, designed to ease financial access for farmers. “To address the cash flow needs of farmers, especially in seed, seedling, and agricultural products, we have successfully implemented solutions. Through our partnerships, we aim to further expand. Our primary objective is to develop cost-effective solutions for obtaining all equipment, from tractors to other machinery, in a manner aligned with the cash flow of farmers,” he added.

Delipoyraz shared the optimistic goal of increasing the revenue of Tohum Kart, which amounted to 1.5 billion Turkish Lira in 2023, to reach 4-5 billion Turkish Lira in the current year. The bank aims to provide nearly 45 billion Turkish Lira in financing to the agricultural sector in 2024.

Commitment to Sustainable Growth and Positive Customer Experience

Delipoyraz underlined the significance of the agriculture and tourism sectors for Turkey and expressed Kuveyt Turk’s dedication to being a significant solution partner in these fields. He emphasized the importance of ensuring financial sustainability, emphasizing the bank’s focus on providing a sustainable and positive customer experience.

“While our goal is not merely to be the largest or to provide the most credit or financing, we aspire to offer end-to-end digital solutions that enable our farmers to have a positive and enriching experience,” Delipoyraz concluded.

source: prepared by Melisa Beğiç

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