02.11.2020

TSKB’s support to Turkish economy reached TRY 52.4 billion

Türkiye Sınai Kalkınma Bankası A.Ş. announced its 2020 nine months financial results. According to the bank-only financial statements of TSKB, the total asset size of the bank has reached TRY 52.4 billion. Commenting on the results, TSKB CEO Ece Börü said: “While the pandemic continued to take its toll, we kept focusing on maintaining communication and cooperation with all our stakeholders. The support we provided to the Turkish economy with our cash loans in the first three quarters has reached USD 1.1 billion. As we at TSKB continue our efforts to mitigate the adverse impact of the pandemic, we will also continue to contribute to our economy in line with our approach focused on prioritizing United Nations Sustainable Development Goals (SDGs)”.

TSKB continued creating value for sustainable development and the Turkish economy through its strong capital structure. In the first 9 months of 2020, TSKB's total asset size reached TRY 52.4 billion with an increase of 26 percent. The bank's total loan portfolio grew by 27 percent in the same period, reaching TRY 39.9 billion. While TSKB's shareholder’s equity increased by 10 percent to TRY 5.7 billion, its 9-month net profit realized as TRY 526.1 million.

Stating that they continue providing support to their customers in line with their sustainable and inclusive banking principles and development banking responsibilities even under the ongoing pandemic conditions in the third quarter of 2020, TSKB CEO Ece Börü continued: "We keep focusing on maintaining communication and cooperation with our stakeholders during this period. The support we provided to the Turkish economy with our cash loans in the first three quarters has reached USD 1.1 billion. The themes of renewable energy and inclusiveness were among the most outstanding characteristics of these new loans we extended. As TSKB continues its efforts to mitigate the adverse impact of the pandemic, we at TSKB will continue to contribute to our economy in line with our approach focused on prioritizing United Nations Sustainable Development Goals (SDGs). Our Bank has executed a funding agreement worth USD 200 million from Asian Infrastructure Investment Bank (AIIB) in order to meet the working capital and liquidity requirements of Turkish corporate companies which operate in the infrastructure and manufacturing industries and which are negatively affected by COVID-19. The fund provided under the guarantee of the Ministry of Treasury and Finance will be offered to the companies operating in the fields of energy, transportation, water, sustainable infrastructure, health and communication technologies, as well as the manufacturing companies to be determined in line with the strategy of AIIB".

“We will continue to add value to the economic development of the country”

Noting that ESG (Environmental, Social, Governance) Score of TSKB was certified by the Sustainalytics company in the third quarter of 2020 and that they ranked among the best global banks, Börü also stated that the Bank was included in the low-risk category with its ESG score of 16.7 and ranked in the second percentile globally. Highlighting that they ranked 6th among 372 banks, Börü said: "We will continue our commitment to manage ESG risk components taking strength from our strategy and policies. We also keep working on SDGs. Within the scope of the new loan model focused on SDGs, which has been developed by ESCARUS, an affiliate of our Bank, we identify the self-assessments of the companies on social, economic and governance aspects within the scope of Sustainable Development Goals and develop the necessary action plans. We are also implementing improvements in the financing costs of our companies that comply with these plans. We will keep adding value to Turkish economy through all of our business lines, and keep prioritizing the support to Turkey's sustainable development".

“We produce solutions together with all our stakeholders for green economic recovery”

Noting that they recently established Green Swan Platform with a view to acting collectively against the climate crisis, which is the main obstacle against sustainable and inclusive development, Börü also said that they began making calls to the public and private sectors, representatives of NGOs, international organizations, academicians, students and media members via the platform. Indicating they will closely follow-up the global and national developments related to the climate crisis as the platform, Börü stated that they aim to produce solutions together with all their stakeholders in order to ensure the green economic recovery.

Türkiye Sınai Kalkınma BankasıTurkey’s comprehensive environmental portal cevreciyiz.com is supported by TSKB.