TSKB's Asset Base reaches TL 41.6 billion

Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) announced its operating results pertaining to the first three months of 2019. According to TSKB's unconsolidated financial statements, its total asset volume amounted to TL 41.6 billion. the General Manager of TSKB, Mr. Suat İnce said: “Thanks to our policies that we have established with a proactive approach, we achieved healthy financial results in the first quarter of the year. TSKB will remain highly motivated in extending financial support and consultancy services to the private sector to promote the inclusive and sustainable development of our country.”

The total assets of the Industrial Development Bank of Turkey (TSKB) amounted to TL 41.6 billion increasing by 9% in the period for the first three months of 2019 compared to New Year. The Bank's gross cash loans grew by 6% in the same period and stood at TL 29.8 billion. In this period, TSKB continued to bring long-term resources obtained from abroad into the national economy through its loans in areas that it prioritizes such as renewable energy, energy efficiency, resource efficiency, environment, infrastructure and women's employment.

TSKB's shareholders' equity amounted to TL 5.3 billion with an increase of 13 % compared to New Year, while its quarterly net profit stood at TL 185 million. The Bank achieved an annual return on equity of 14.8 % during this period.

“We will continue our financial support and consultancy services that we offer to the private sector with high motivation.”

Mr. Suat İnce pointed out that the developments experienced in the global agenda affected the growth expectations in the first quarter of the year and said that in domestic markets, industrial production and the foreign trade data are an indicator that the balancing process continues in the economy. He continued: “Thanks to our policies that we have established with a proactive approach, we achieved healthy financial results in the first quarter of the year. As TSKB, we will continue to provide our financial support and consultancy services that we offer to the private sector with high motivation for the inclusive and sustainable development of our country.

“We continued our efforts in the field of equality of opportunity”

Mr. İnce mentioned about TSKB's work realized in the first quarter of the year and said the following: “Contributing to Turkey’s sustainable and inclusive development is one of our major focus areas at TSKB. In this context, in addition to our loan themes such as renewable energy, energy efficiency, resource efficiency, environment and infrastructure, we continued our work on women's employment and equality of opportunity, which are one of the areas that we focus on, also in this period. Together with our business partner, the French Development Agency (AFD), we discussed women's employment with economists, academics and representatives of development finance institutions from many different aspects during the conference that we organized on the occasion of International Women's Day. Again in order to raise awareness in this area, on the Equal Steps (esitadimlar.com) platform that we have established in cooperation with the French Development Agency (AFD) and Business Council for Sustainable Development Turkey (BCSD Turkey), we allow the opportunity for the private sector to share their experience on equality of opportunity and we support those companies, which want to progress in this regard, to create a road map creation.”

“We have published our first Integrated Annual Report’’

In addition, Mr. İnce mentioned the TSKB Integrated Annual Report, where all of the Bank's 2018 activities, and its plans and goals for the future are shared. “We published the first Integrated Report of the financial sector in recent years. This year, we took our experience to the next step and published TSKB's first Integrated Annual Report. The TSKB Sustainability Consultancy - Escarus, our subsidiary, undertaken the strategic consultancy in our report. We are pleased to present the value we generate within the scope of the capital elements including our plans and goals for the future to our stakeholders in our report.

“We were deemed worthy of three different awards with two projects that we financed.”

Mr. İnce said that they also take great satisfaction for receiving three different awards for two projects, for which they provided financial support, within the scope of the Bonds & Loans Turkey Awards, where project financing and private sector borrowing transactions are evaluated.