TSKB's Asset Size Exceeds TL 58 Billion

Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) has announced its financial results for the first quarter of 2021. TSKB's non-consolidated financial statements indicated that the Bank's total asset size exceeded TL 58 billion. Commenting on the quarter, TSKB CEO Ece Börü said, “Promising developments in vaccination as well as global recovery triggered the loan demand in early 2021. We will further increase the added value we create for the sustainable and inclusive development of our country through our goal to keep the share of SDG-linked loans in the total portfolio above 90% between 2021 and 2025."

In the first quarter of 2021, the Industrial Development Bank of Turkey’s asset size increased by 24 percent year on year, exceeding TL 58 billion. In the same period, the Bank's total loan portfolio grew by 29 percent to reach TL 44 billion.

TSKB's equity and quarterly net income for the period stood at TL 6 billion and TL 226 million respectively.

TSKB CEO Ece Börü said that the Bank started the year 2021 with a pick-up in loan demand thanks to promising developments in vaccination as well as global recovery. "As of the end of 2020, we continued to finance projects that create positive environmental and social impact through investments in environment, renewable energy, energy and resource efficiency, women's empowerment and developing regions to contribute to the UN Sustainable Development Goals. We will further increase the added value we create for the sustainable and inclusive development of our country through our goal to keep the share of SDG-linked loans in the total portfolio above 90% between 2021 and 2025."

Ece Börü: "We started 2021 with a Sustainable Eurobond issuance"

TSKB CEO Ece Börü said they continued to undertake innovative efforts in 2021 through the funding facilities they extended to sustainable investments which gained more importance after the pandemic broken out. “We started 2021 with a sustainable Eurobond issuance worth USD 350 million with a maturity of 5 years. This transaction marked the first issuance of the year in the Turkish financial sector and was 6 times oversubscribed. I would like to underline that one third of this demand was from ESG investors. Funds from the issuance will be extended to projects that comply with our bank's Sustainable Finance Framework. We started this journey back in 2016 by issuing Turkey's first green/SRI bond, we are happy to have successfully completed our third issuance and to have created additional funds for investments serving for the future of our country.”

"We have launched a sustainability initiative in capital markets"

Stating that they had integrated innovative sustainability criteria into the entire banking model and their full range of services, Ece Börü made the following remarks: “We have recently broken a new ground in investment banking and launched a sustainability initiative in capital markets. Following our first lease certificate issuances in the natural gas distribution and food sector in Turkey, we have recently brokered the first Sustainable Sukuk issuance in the energy sector, including targets such as sustainable infrastructure and clean transportation, in accordance with the 4 basic standards of the International Capital Market Association. At the beginning of 2021, we successfully completed the first lease certificate issuance in the Turkish healthcare sector to break another ground. Our Bank will continue to bring new firsts into the capital markets and create alternative funds for private sector firms through sustainability-themed instruments.

"We closely follow the developments regarding the European Green Deal"

Börü stated that they closely followed local and global regulations in the field of sustainability in order to prepare their stakeholders for new situations that they might encounter, particularly in the medium and long run: “In the upcoming period, possible taxation and restrictive measures may be introduced within the framework of climate change adaptation and the European Green Deal. At TSKB, we will continue to offer our advisory services to guide our customers to take necessary actions in the soundest way possible as well as supporting our customers' quest for green transformation and other investments.”

We aim to provide SDG-linked financing worth of USD 8 billion by 2030

In March, TSKB published the Global Reporting Initiative (GRI)-approved Integrated Report containing the 2020 year-end results. Aiming to enrich its targets every year, TSKB also included in its 2020 report its results as a signatory of UNEP FI Responsible Banking Principles.

Ece Börü highlighted the importance of sharing goals and results transparently. “We believe in the importance of all capitals in development, and we put the UN Sustainable Development Goals at the heart of all related processes. This is how we shape our Bank's corporate banking, investment banking and advisory services. In our report, we discuss the integrated approach in our sustainability banking model in all aspects, and we set concrete targets for the future. We contribute to almost all of the SDGs through our business lines and social responsibility projects. According to our 2020 year-end results, we mainly contribute to 7 SDGs by the loans we extended. We included in our integrated annual report, our goal of providing SDG-linked financing worth of USD 8 billion by 2030."

TSKB's sustainability efforts are crowned by international awards

TSKB actively supports its customers’ transition to more sustainable business models through investment banking and advisory services. Also, TSKB’s financing facilities include measurement and improvement tools for projects that create positive environmental and social impacts. The Bank is also expanding its sphere of influence day by day via long-term social responsibility projects in environment, gender equality, arts and culture.

The success of TSKB's sustainability efforts are crowned at the beginning of the year by an important award from CSR Works International, a renowned international organization. Furthermore, TSKB CEO Ece Börü was named as one of the 13 female leaders in the honor list for 'Asia's Top Sustainability Superwomen 2020', a list announced by CSR Works International in the field of sustainability leadership.