The total loan volume of TSKB has reached TL 13.7 billion in 2015

28 January 2016
- 3 min Read

Industrial Development Bank of Turkey (TSKB) has announced its financial results for 2015 year end. Accordingly, Total assets of TSKB have reached TL 20.7 billion, whereas its total loan volume has been TL 13.7 billion. TSKB CEO Özcan Türkakın comments, “We are strengthening our competence in development finance with our solid financial structure and our reputation at international funding institutions. In 2015, the support we have given to Turkish private sector has totaled USD 1.3 billion”

In 2014, TSKB has expanded its total assets to TL 20.7 billion with an annual growth of 32% and its total loans to TL 13.7 billion with a growth rate of 24.5%.

The Bank has increased its equity capital to TL 2.5 billion with 8.8% pick up in 2015 compared to the previous year, and the average annual return on equity stood at 17%. The Bank's return on assets was recorded as 2.2%.

While the net profit of TSKB has reached TL 406.8 million in 2015 with a yearly growth of 10.2%, the total resources obtained by TSKB from the international markets have exceeded USD 950 million. Maintaining its healthy growth and preserving its strong assets quality, the Bank’s non-performing loans rate by the end of the year was recorded as 0.4%.

Özcan Türkakın: “We subsidized a total amount of USD 1.3 billion”

Stating that they are continuing to support Turkish private sector as TSKB in 2015, Özcan Türkakın also said: “We are strengthening our competence in development finance with our solid financial structure and our reputation at international funding institutions. In 2015, within the scope of renewable energy, resource efficiency, electricity distribution, nourishment and private sector partnership, we have presented qualified financing solutions to investment projects in health and education fields. The total amount of finance we have provided to Turkish private sector has reached USD 1.3 billion.”

Türkakın also added that as TSKB, they foresee their loan growth goal for 2016 as 12% on an exchange-cleared basis.

Half of the loan portfolio is sustainability-themed investments

Consisting the half of its loan portfolio of sustainability-themed investments that are paying regard to climate change, TSKB has made a commitment of USD 2.9 billion for 133 renewable energy projects that it has been financing since 2002 and its total investment amount reached USD 7.8 billion. In the field of resource efficiency, especially energy efficiency, it has financed USD 500 million to more than 100 projects up to today.

Qualified funds obtained with international collaborations

In 2015, TSKB obtained a total amount of USD 340 million resources with the agreements it entered into with Europe Investment Bank (EIB), Japan Bank for International Cooperation (JBIC) and International Finance Corporation (IFC), which are some of the important development bank institutions. Despite the fragilities happening in global markets, it renewed the syndicated loan with an amount of USD 256 million with over 200% rate with the participation of 17 banks. With the Eurobond export of USD 350 million it completed in the same year, the Bank had over 2.5 times request from investors.

Another important progress among TSKB’s 2015 activities is the D20 Conference, which was organized within the scope of Turkey’s G20 Turkish Presidency in Istanbul and hosted by TSKB. The main theme of the conference was “Infrastructure as a Means of Long-Term Investment for Inclusive and Sustainable Growth”. High commissioners of development banks, long-term investment establishments and grand business institutions from countries that are G20 members attended the conference.

Global contribution to sustainability and climate change

Getting involved in Borsa Istanbul (BIST) Sustainability Index in 2015, TSKB supported financing activities that are aimed at sustainable development projects and also continued to contribute to climate projects that are conducted on international platforms. Participating in Paris Climate Summit COP21 last year, the Bank gave support to the climate declarations of International Development Finance Club (IDFC) and European Long-Term Investors (ELTI).

Awards to sustainability exercises from different platforms

In 2015, TSKB was awarded CDP-Turkey’s Climate Transparency Leadership Award. While scoring the highest mark in Survey of Transparency in Corporate Reporting with its corporate governance implementations, the Bank became the company with the second-highest rating score in BIST Corporate Governance Index.