TSKB’s asset size reached TL 47.2 billion as of the 1Q-2020
Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) announced its 2020 first quarter financial results. According to TSKB’s bank-only financial statements its total assets reached TL 47.2 billion. TSKB’s Deputy CEO Ece Börü told, in her statement: “We believe that the Covid-19 epidemic will disappear soon with the least damage thanks to proactive implementation of the economic and social measures taken by the relevant authorities. As TSKB, we commenced the year with a strong capital structure and sound liquidity. We will continue to create value for our country’s economy by using our capitals effectively as we have been doing in the past 70 years.”
The total assets of the Industrial Development Bank of Turkey (TSKB) amounted to TL 47.2 billion with an increase of 12.4% compared to the year-end 2019. The Bank's total cash loans grew by 8.9% in the same period and stood at TL 34.2 billion. The shareholders’ equity of TSKB amounted to TL 5.5 billion, while its first quarterly net profit stood at TL 160.2 billion. The capital adequacy ratio reached up to 17.5% in the first quarter which is well above legal requirements.
“We will overcome these difficult times in unity and solidarity.”
Reminding that the Covid-19 epidemic, which creates unprecedented consequences in public health and in the global economy, TSKB Deputy CEO Ece Börü said: “We believe that the Covid-19 epidemic will disappear soon with the least damage thanks to proactive implementation of the economic and social measures taken by the relevant authorities. In this period while we take the necessary precautions for the health of our employees, we continue to work without disruption in our business continuity. We will go on creating value for our country’s economy by using our capitals effectively as we have been doing in the past 70 years.”
“We made a strong start to 2020 with our successful Eurobond issuance”
Indicating that TSKB continues its lending activities within the scope of its commitments and with the Bank’s internal strong risk assessment approach, as in its 70-year journey, Ms. Börü said: “We made a strong start to 2020 with our successful Eurobond issuance in the international debt capital markets. As TSKB, we realized the first Eurobond issuance out of Turkey in January 2020. This transaction which amounted to USD 400 million with 5 years maturity and fixed interest rate was ten times oversubscribed attracting demand from approximately 300 investors from different regions on a global scale and enabled us to diversify our investor base especially with US investors. We observed that the recovery signals in the economy reflected positively on loan demand, especially in the first two months of the year. As a pioneer in climate change financing, we have continued our support in this field especially with renewable energy investments. In the upcoming period, we will go on contributing to sustainable economic development by using our resources in the most effective way.”
“We continue to create added value for our customers with Investment Banking and Advisory Services.”
In addition to Corporate Banking activities, Ms. Börü mentioned that TSKB has an active role in Investment Banking and Advisory Services with its 70 years of knowledge and experience:
“In the past years, we have expanded our focus in Investment Banking and Advisory Services, where we realized necessary investments and important changes in our organizational structure. We continue to create added value for our customers with an increasing number of projects in various sectors and types. We successfully completed two sell-side financial consultancy projects in the first quarter. We have also prepared a roadmap for companies that continue to operate and sustain its production during the Covid-19 epidemic, which affects the entire world. The roadmap is publicly available in our website in line with our socially responsible banking perspective.
Stating that 2020 is the 70th anniversary of TSKB, Ms. Börü completed her words as follows:
“With our qualified human resources, strong competencies brought by our knowledge and experience, we will continue to work in line with the market requirements and our customers’ expectations, via Corporate Banking, Investment Banking and Advisory Services. As TSKB, we will continue to create increasing value to ensure the sustainability of a world where future generations can live while contributing to our country’s economy.”
