TSKB Posted a net bank only profit of TRY 240 million

Turkey’s first privately-owned development and investment bank, the Industrial Development Bank of Turkey (TSKB) posted a net bank-only profit of TRY 239.6 million in the third quarter of 2012. TSKB’s profit before tax reads as TRY 297.3 million.

The Industrial Development Bank of Turkey (TSKB) disclosed its financial results of September 30th, 2012. TSKB’s bank-only profit before tax reads as TRY 297.3 million, with a yearly increase of 31.2%, and its net profit as TRY 239.6 million, with yoy increase of 30.9%.

TSKB’s total assets surged by 8.1% compared to third quarter of 2011 and 5% ytd, reaching TRY 9.9 billion. As of 30th of September 2012, TSKB sustained its strong capital structure at TRY 1.6 billion while delivering a ROAE of 21.3% and a ROAA of 3.3%.

TSKB’s loan portfolio expanded to TRY 6,645 million with an increase of 3.9% in TRY terms during the first nine months. The fx adjusted loan growth during the first nine months of 2012 was 10.8%. Parallel to its sound loan growth, TSKB continued to secure its strong asset quality. NPL ratio of the bank in the third quarter remained at 0.3%. Net interest income in the first nine months reached TRY 315.5 million with a 18.8% yearly increase. Total operating income expanded by 22.6% to TRY 372.6 million.

During TSKB’s CEO Mr.Fevzi Onat’s assessment with respect to first nine months financial results of the Bank, he asserted; “TSKB’s third quarter performance results are parallel to our forecasts. With the loan agreements we have already signed during the three quarters of 2012 with our clients, we expect to end up the year in line with our loan growth and performance targets.”.