TSKB posted a net bank-only profit of TRY 122.5 million in the first half of 2010.

TSKB’s profit before tax reads as TRY 152 million.

The Industrial Development Bank of Turkey (TSKB) disclosed its financial results of June 30th, 2010. TSKB’s bank-only profit before tax reads as TRY 151.9 million, with an increase of 40%, and its net profit as TRY 122.5 million, with an increase of 35%. TSKB maintained its sustainable profit successfully with a quarterly 20% increase in the net profit.

TSKB’s total assets surged by 15.4% compared to the second quarter of 2009, rising to TRY 7.3 billion, while the year to date asset growth is 5.1%. As of 30th of June 2010, TSKB sustained its strong capital structure, raising its equity to TRY 1.1 billion while delivering a ROAE of 22.7% and a ROAA of 3.5%.

TSKB’s loan portfolio reached TRY 4.1 billion with an increase of 9% in basket terms during the first six months. While providing medium and long term loans with an amount of USD 600 million to private sector investments in Turkey during the first six months, TSKB aims for sustainable growth with its 15% loan growth target.

TSKB, which has a leading role in the capital markets, expanded its investment banking activities in line with its mission. This positive development is expected to continue in the coming period as well.

On its 60th anniversary, TSKB proved its responsibility in global sustainable development as well as its responsibility in Turkey by receiving the “Sustainable Emerging Markets Bank of the Year” award for Eastern Europe under “Financial Times Sustainable Banking Awards” for the third time.