TSKB Disclosed Its Financial Results as of 3rd Quarter
Turkey’s first privately-owned development and investment bank, the Industrial Development Bank of Turkey (TSKB) posted a net bank-only profit of TRY 183 million in the first nine months of 2011. TSKB’s profit before tax reads as TRY 226.7 million.
The Industrial Development Bank of Turkey (TSKB) disclosed its financial results of September 30th, 2011. TSKB’s bank-only profit before tax reads as TRY 226.7 million, with a yearly increase of 6.2%, and its net profit as TRY 183 million, with a yearly increase of 8.5%.
TSKB’s total assets surged by 31.2% compared to the third quarter of 2010, rising to TRY 9.2 billion, while the year to date asset growth is 16.1%. As of 30th of September 2011, TSKB sustained its strong capital structure at TRY 1.3 billion while delivering a ROAE of 18.9% and a ROAA of 2.9%.
TSKB’s loan portfolio reached TRY 6.1 billion with an increase of 25.4% in TRY terms during the first nine months.
Parallel to its sound credit growth, net interest income reached TRY 265.7 million with a yearly increase of 16.9%. Total operating income increased by 9.9% to TRY 303.9 million.
While assessing 2011 first nine months results, TSKB’s CEO Fevzi Onat expressed that TSKB posted once again successful results in the third quarter of this year despite the volatility in global and local market conditions. He also stated that in line with previous years, TSKB will continue supporting Turkish industry and their investments. TSKB’s main goal will be to carry on the expansion of both development and investment banking activities.
