TSKB announces its first quarter results

The Industrial Development Bank of Turkey (TSKB) disclosed its financial statements for the first quarter of the year. TSKB’s profit before tax reads as TRY 38.3 million, with an increase of 44%, and its net profit as TRY 28.6 million, gaining upside by 32%.

TSKB’s assets surged by 24% compared to the same period of the last year, rising to TRY 5.6 billion. The asset growth rate hit 14% year-to-date.

TSKB’s focus on corporate and SME loans goes on undisturbed, loans following the uptrend at the same rate of growth as the last year in the first quarter of the year. At the end of March, the loan portfolio has reached TRY 3.3 billion with an increase of 17% compared to year-end 2007.