TSKB posts a net profit of TRY 133 million for the third quarter of 2009

TSKB disclosed its financial statements for September 30, 2009

The Industrial Development Bank of Turkey (TSKB) disclosed its financial statements for the third quarter of 2009. TSKB’s profit before tax reads as TRY 160.8 million with an increase of 30%, and its net profit as TRY 132.8 million, rising by 32% compared to the same period of last year.

TSKB’s assets surged by 28% compared to the third quarter of last year, rising to TRY 6.7 billion, asset growth rate is 7% year to date. As of 3Q09, TSKB carried its equity to TRY 996 million with a year-to-date growth rate of 33%, while showing a performance well over the legal obligation level with a capital adequacy ratio of 24.3%. Also, the total operating income increased by 29% compared to 3Q08 and, reaching TRY 238 million.

TSKB’s focus on energy sector loans goes on undisturbed. At the end of the third quarter of 2009, the loan portfolio reached TRY 3.8 billion with an increase of 23 % compared to the same period of last year. The NPL ratio stands at 0.6%, which is well below the sector average.