TSKB Reaches TL 91 Billion Asset Size in First Quarter

TSKB has announced its financial results for the first quarter of 2022. According to the bank’s bank only financial statements, it has reached a total asset size of TL 91 billion. In an assessment TSKB CEO Murat Bilgiç said, “In the first three months of the year, we have financed investments such as renewable energy, capacity increase and inclusive development projects in different sectors.” We have supported the non-financial sector’s activities and access to financing through our investment banking and advisory services. We have signed two new funding agreements with International Development Finance Institutions in the scope of environmental and social themes. In the coming period, we will continue to support the transformation of the production economy with high-impact innovative products.”

TSKB (Industrial Development Bank of Turkey) has announced its financial results for the first quarter of 2022. TSKB’s total asset size reached TL 91 billion in the first three months of 2022 with an increase of 8.3 percent. The bank’s total loan portfolio grew by 0.5 percent in the same period, reaching TL 64.2 billion. Its shareholders’ equity, on the other hand, was elevated by 9.3 percent to reach TL 7.6 billion TL, and a profit before tax of TL 821.9 million was posted in the first three months of the year. TSKB’s net profit for the period was TL 605.9 million.

“Our strong financial results reaffirm our qualified contribution to the real economy”

Making a statement on TSKB’s first quarter financial results, TSKB CEO Murat Bilgiç said, “With our solid contribution to environment, climate and social development for the last 30 years, we assume the responsibility of being a positively differentiated institution in our sector. The strong financial results we have announced in the first quarter of 2022 once again reaffirm our qualified contribution to the real economy. In the first three months of the year, we have financed investments such as renewable energy, capacity increase and inclusive development projects in different sectors. In the coming period, we will continue to support the transformation of the production economy with high-impact innovative products.”

“With two new international funding agreements in environmental and social themes, we will continue to support the development of our country in areas such as climate, environment and women’s employment”

In the first quarter of 2022, TSKB has signed two separate international funding agreements within the framework of its green and inclusive transformation-oriented activities. The green-themed loan of USD 220 million, signed under repayment guarantee with the Japan Bank for International Cooperation (JBIC) and the Ministry of Treasury and Finance of the Republic of Turkey, aims to reduce greenhouse gas emissions in Turkey. The loan is the continuation of the USD 150 million loan TSKB received from JBIC in March 2015. With this fund, TSKB will support renewable energy and energy efficiency investments throughout Turkey and provide financing for advanced technology projects in this field.

The USD 100 million loan received by TSKB from IFC, a World Bank Group member, will be used to enhance women’s access to financing and employment opportunities in Turkey. With this financing package; businesses that have a certain number of female employees, have female managers in the board of directors or senior management, and have a valid gender equality certification will be granted loans.

Evaluating the funding agreements in environmental and social themes recently signed by the Bank, Bilgiç added: “TSKB is a bank with strong ties to global development finance institutions. This gives us the advantage of following the world closely and incorporating good practices early on, as well as a perception of quality of international standards. We closely witness the transformative effect of smart and solution-oriented financing models in all the projects we grant loans to. The investments, which are realized with the funds we receive from the distinguished institutions of the world, and which serve as models in the development of our country with works in areas such as climate, environment and women’s employment, make us just as proud as our business partners.”

“We will build up the momentum in our investment banking and advisory activities”

Pointing to TSKB’s high performance in investment banking and advisory services, Bilgiç said: “As TSKB, we are a bank that provides effective support to our customers also with our non-credit services. As Turkey’s first investment bank, we guide the strategic growth of our country’s companies, and offer them alternative opportunities through transactions such as public offerings, intermediation in bond issuance, and mergers and acquisitions. With our advisory services, we mobilize all our experience and knowledge so that our companies can be economically, environmentally and socially competitive in the reshaped world. Our strategic subsidiaries operating in capital markets, real estate and sustainability enable us to both expand and deepen the value we create for our customers. We will continue to provide multidimensional support to meet the needs of our customers by taking these services, which we are handling with great care, even further.”

TSKB further strengthens its capital structure with an additional Tier 1 loan agreement of USD 200 million

TSKB exercised the call option of the USD 300 million Sustainable Equity bond it issued in 2017, which is a first in the world. In addition, the Bank supported its healthy and strong balance sheet structure with an additional Tier 1 capital loan agreement amounting to USD 200 million signed with its main shareholder İşbank.

TSKB shares its focused impact and future goals in its integrated annual report

Publishing its 2021 integrated annual report in March, which was prepared in line with many national and international initiatives and recommendations, TSKB presented its focused impact on sustainable development and its future goals to its stakeholders. The report, which also takes into account the Stakeholder Capitalism Metrics created by the World Economic Forum (WEF) this year, also includes the developments and progress within the scope of Climate Risks published by TSKB last year. The web page created specifically for TSKB’s integrated annual report offers an effective reading experience with the Digital Report Assistant feature.