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OYAK Securities closed the first half of the year with a net profit of TRY 131.8 million

Successfully completed the public offering process in June, OYAK Yatırım Menkul Değerler A.Ş. (OYYAT) announced the financial results for the first half of 2021. The company stands out in the industry with its strong shareholding structure, and according to the statement made by the company to the Public Disclosure Platform (PDP), the company’s net profit per consolidated parent company reached TRY 131.8 million, up by 168 percent compared to the prior-year period (2020: TRY 49.2 million), and the shareholders’ equity reached TRY 586.1 million. OYAK Securities’ recent collaborations and successful public offerings also boosted corporate finance and brokerage commission revenues.

OYAK Yatırım Menkul Değerler A.Ş., one of OYAK’s finance companies, increased its consolidated net profit by 1,206 percent over the last five years reaching TRY 141.1 million by the end of 2020. The company continues to grow strongly in 2021. According to OYAK Securities’ financial results published on PDP for the first half of 2021, the company increased its net profit per consolidated parent company by 168 percent to TRY 131.8 million, up by 168 percent compared to the prior-year period, its shareholders' equity to TRY 586.1 million. 

“We sustained our strong growth with a wide range of services”

Assessing the financial results of the company for the first half of the year, OYAK Securities General Manager Erkan Ünal said, “We have 40 years of experience. We have increased our return on equity from 21 percent to 54 percent by the end of 2020 thanks to the vision and determination we have achieved through OYAK, particularly during the last five years. We have achieved significant sustainable growth with our ever-increasing collaborations and diversifying products. Our half-year results confirm this. I hope this successful outcome will be beneficial for our investors, employees and all our stakeholders.”

Ünal stated that they have several initiatives ranging from global insurance brokerage to financial technology and added, “As OYAK Securities, we act as a stock broker in the capital markets in which we operate, and we also have significant experience in public offering, mergers and acquisitions, and bond issuances. We have very strong affiliates including OYAK Group Insurance and Reinsurance Broking Inc., OYAK Asset Management and OYAK Investment Trust that distinguish us from other brokerage firms. In addition to our affiliates, our investments such as consumer financing and financial technologies continue their quick development process, and we maintain our efforts for new areas. In this way, we aim to benefit from growth opportunities and contribute to our stakeholders by increasing product diversity. OYAK Securities is determined to maintain its strong growth with an innovative and superior product range and service network that we offer to our customers.”