“Wherever You are, LTKB Will be Next To You at 82th Anniversary”

General Manager Müzeyyen Öztürker published a written statement regarding the 82th anniversary of the Limasol Türk Kooperatif Bankası and highlighted that Bank’s steps forward the future are digitalised transformation-oriented in accordance with trust and stability defined the strategical aims. Öztürker said “We provide privileged services to our clients and believe that the digitalisation is a never-ending process. Therefore, our management and employees continue to provide the best service of TRNC in banking sector as we did for 82 years.”

Limasol Bankası is among the entrenched establishment of TRNC. What would you like to state regarding this?

Limasol Türk Kooperatif Bankası, given the 82’ years old experience and history, has passed milestones with deep traces left on Cyprus Turkish community and therefore, we are honoured to be eligible to the trust by our clients and esteemed community to be able to become the bank we are today.

82 years old Bank, had been through 5 regimes, British Colonial Period, Republic of Cyprus, Cyprus Turkish Federal State and TRNC periods and we see now that we had managed to come to this point through the necessary measures we took through hard times. Since its establishment, Limasol Tük Kooperatif Bankası stayed next to Cyprus Turkish community and will continue to do so. With this fact, we would like to announce our slogan fort his year as “Wherever You are, LTKB Will be Next To You at 82th Anniversary” and carry on to be on our clients’ side.

Limasol Bankası did not dismiss any personnel through pandemic, but even continued to recruit more employees. Can you please specify the Human Resources policy?

To be a Limasol Bankası employee is definitely a privilege. Limasol Bankası human resources policy can be summarised as caring humans and prioritising human life, investing constantly through trainings and allocating the necessary funding for that, prioritising the promotion within the body and leading an open communication field thus supporting participation, being fair and just towards the employees and developing implications internationally standardised. The shared scale of the employees at the Limasol Bankası is constructed upon devoted labour, compassion, respect towards humans and trust. Along with powerful human resources, our personnel are members of BASS Union and work in a clear and rightful environment. Limasol Bankası Human Resources Unit cares for the pleasure of their employees and provide them with proper trainings, dynamic career-oriented opportunities and modern working opportunities. During the pandemic, our Bank focused on human and with this approach we didn’t dismiss any employees, took necessary Covid-19 measures and played a big role through the affiliates and bank’s career opportunities offered. Through the awareness of a differentiated work atmosphere during the pandemic as well as balancing the work and the life harmony, our human resources policy was adapted very successfully with this critical concern. In order to provide a modern and technologically equipped service to our clients, we continue to our pursuit through investing in human resources.

What would you like to tell about authentic services and projects of Limasol Bankası?

Limasol Bankası is among one of the esteemed and leading finance establishment within TRNC. We are glad to fund small enterprises and entrepreneurs who wish to make investments along with our esteemed member affiliates. Client satisfaction is always in the front line. Projects, in the regard are prepared according to this this our loans provide all sorts of financing products and services.

We can talk about our projects like this: In 2020, new generation Core Banking Software, being present in the concentration point of digital transformation, CoreTechsS was applied to all infrastructure, which amended the software and equipment facilities. Especially Limasol Banking Academy building was actualised and Internet and Mobile Banking applications are adapted to new generation banking, in terms of software. Therefore, banking took its place to a more dynamic structure, virtualised platform through the means of CoreTechsS. This is achieved through the Koza Project which allowed the software to be updated as the biggest project of 2020. In the new term, digitalisation is necessary to minimise the costs and enhance the productivity through digitalisation and automation while operating.

As the first phase of the Digital Transformation road map of 100th Anniversary vision of Limasol Türk Kooperatif Bankası, this project was completed successfully and securely through the immense effort of Koza Project Group and coordination by all units of the bank. Technical work conducted within the project resulted in updates and renewed systems configuration in data bases and storing systems along with the server systems. Also, a better service is aimed with edge components like printers and scanners that the consumers need is properly renewed and adapted to the new generation. Operational structure based on the process, detailed data base on client information, easy integration to outer systems, user-friendly interface, automation substructure flexible and developable competences enable our bank to serve its clients with a bettered and fast approach through the means of new generation banking application CoreTechsS. Very soon, we will announce our new projects to our community, which we believe to lead the technological firsts in banking sector.

You played an active role in New Generation Banking. What are your thoughts on new program and the effects of the pandemic on digitalisation?

Digitalisation caught a great elevation by the pandemic and sat in the middle of our lives very quickly. Especially, through the constant investments of our bank into technological structure, it was our first aim to carry client satisfaction to the highest levels. Last year, in March, the lockdown period we had been through was a period when Limasol Bankası digital channels received the most focus by the clients who operated their transactions securely from Limasol Mobile Banking and Internet Banking at their homes. Like lockdown, partly limited lockdown was a such period where these channels were preferred mostly. At this point we are proud to actualise our slogan: “Wherever You are, LTKB Will Be Next to You at 82th Anniversary”. Banking operations can be activated at home through Mobile Banking and Internet Banking without going to branches and 24/7 serving ATMs and CardPlus maintained many payments to be done within this period. Alternative distribution channel in banking operations, internet banking, which is ever-growing, sustained the banking operations and one does not have to leave the house during the pandemic and make bill payments, credit card payments but also can check their accounts for any instalments or balance inquiry. Through the internet banking which provides our clients to control and monitor their bank accounts 24/7, we also minimised the traffic at our branches, thus the risk of spread. We understood the pandemic not as a crisis but as an opportunity to transform our operations as an entrance to the New Generation Banking CoreTechsS. Throughout this period, we worked intensively and trained our employees properly following all trial tests and in the first of 2021, we successfully entered into a new generation banking program that covers the needs of our clients before developing and changing technology in the new world.

With Covid-19 pandemic, there have been global fluctuation effects in economy. Do you think that this is to continue in the upcoming days? Can we say that there will be a time for recovery?

Covid-19 pandemic caught us very unprepared. In a period where science and technology is immensely developing, the pandemic shook the humanity from the bottom in terms of economy and societal life and affected human both psychologically and physically. Demand and request shocks which came one after another affected production and consumption, transportation and its chains, trade and finance and fluctuate in all areas of life. The scenarios created are determined as per the invention of the vaccines and the world has come a point where we had no idea what to do next, for the first time after a very long time. Because, the crisis we are going through is not only an economic or financial crisis but also a health crisis. Measures adopted during the protection and treatment had negative effects on economies of all countries and sort of created a global crisis. In order to overcome the obstacles emerged by the pandemic in term of economy, monetary policies, finance policies and other policies developed by countries are of measures. In all countries of the world, loan supports with low interest rates are put in force as monetary policies.

On the other hand, Cyprus Turkish Trade Chamber published a report in 2020 regarding the economy of TRNC and the report indicates a decrease due to Covid-19. The report indicated this rate as 14,3. However, I reckon that this number will change by the end of 2021 due to the measures we adopted. Also, given the activities regarding the vaccine, I reckon that our economy will be affected positively. Not only country economies but the direction of Covid-19 pandemic, the global economy and finance will change in terms of developments.

What would you like to add to conclude?

To conclude, I would like to, indicate that we have made our plan to get adapted to innovations in technology by our 100th anniversary and we are aiming to be a world bank operating in the international arena with branches in Turkey and Europe. Our aim is to turn Limasol Türk Kooperatif Bankası into a world quality bank. The experience supported by 82 years in service and the trust by our clients, I wish successfully completed years.