TSKB announces its third quarter results

TSKB posts a net profit of TRY 101 million in the third quarter of 2008.

The Industrial Development Bank of Turkey (TSKB) disclosed its financial statements for first half of the year. TSKB's profit before tax reads as TRY 123 million, with an increase of 24% and its net profit as TRY 100.8 million, gaining upside by 22%. The Bank secured 18.2% annualised return on average equity (ROAE) and 2.7% return on aaverage assets (ROAA).

TSKB's assets surged by 14% compared to the same period of the last year, rising to TRY 5.2 billion.

TSKB's focus on energy sector loans goes on undisturbed, loans following the uptrend at the same rate of growth as the last year, in the third quarter. At the end of the September, the loan portfolio has reached USD 2.5 billion wiıth an increase of 16% compared to last year.