TSKB total loan volume reaches TL 9.6 billion

Türkiye Sınai Kalkınma Bankası A.Ş. (Industrial Development Bank of Turkey-TSKB) has announced its first quarter results for 2014. The results show that the bank's total loan volume has reached a level of TL 9.6 billion. CEO of TSKB Özcan Türkakın comments, "Our performance in the first three months of the year has been successful. Bank’s strong capital structure permits us to continue to maintain a sustainable and steady growth."

Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) has increased the volume of its total loans in the first quarter of 2014 by 35.6 percent over the same period of the previous year, reaching TL 9.6 billion. The growth of loan portfolio on a TL basis is 4.8 percent year to date. Preserving the asset quality, TSKB's non-performing loan ratio reads as 0.2 percent.

Backed by a strong capital structure, TSKB raised its shareholders equity to TL 1.9 billion in the first quarter of the year, while the Bank's return on average equity and return on average assets on a yearly basis were recorded as 19.9 percent and 2.9 percent respectively over the same period of the previous year.

The Bank's net interest income in the first quarter of 2014 reached TL 140.4 million, increasing by 26.1 percent over the same period of the previous year. Total operating income grew by 34 percent, increasing to TL 181.3 million.

TSKB's profit before tax on a stand-alone basis was TL 117.4 million; net profit for the period of the first quarter expanded by 10.7 percent over the same period of the previous year, rising to a level of TL 93.7 million.