TSKB posted a net bank-only profit of TRY 168.7 million in the third quarter of 2010. TSKB’s profit before tax reads as TRY 213 million.

4 November 2010
- 2 min Read

The Industrial Development Bank of Turkey (TSKB) disclosed its financial results of September 30th, 2010. TSKB’s bank-only net profit reads as TRY 168.7 million, with an increase of 27%.

TSKB’s total assets reached to TRY 7 billion as of 30th of September 2010, and raising its equity to TRY 1.2 billion while delivering a ROAE of 20.1% and a ROAA of 3.2%. The increase in ROAE from 19.5% at the end of 2009 and sustainable profitability draw attention.

TSKB’s loan portfolio reached TRY 4.0 billion with an increase of 8% in basket terms during the first nine months. While providing medium and long term loans with an amount of USD 914 million to private sector investments in Turkey during the first nine 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.

TSKB has continued to provide new investment products to its clients with its leading role in Turkey’s capital markets. With successfully completed bank bill issuance amounting to 200 million TL, TSKB will increase its endeavors to meet private sector’s finance needs in upcoming period. After completing 2 IPOs successfully within its Investment Banking activities, TSKB is planning to finalize EMLAK IPO in the final quarter of 2010. TSKB’s active role in capital markets is expected to be sustainable in upcoming quarters.