TSKB’s Asset Size Reaches TL 108.3 Billion in Third Quarter
TSKB announced its financial results for the third quarter of 2022. The Bank’s bank-only financial statements indicate that its total asset size reached TL 108.3 billion and total loan portfolio reached TL75.5 billion. In his statement, TSKB CEO Murat Bilgiç said, “In the first nine months of 2022, we continued to create tangible value for sustainable growth and development. In addition to financing sustainability-themed investments, we continued to offer innovative and alternative solutions to our customers with our investment banking and advisory services.”
TSKB (Industrial Development Bank of Türkiye) has announced its financial results for the third quarter of 2022. TSKB’s total asset size reached TL 108.3 billion in the first nine months of 2022 with an increase of 29 percent. The loan portfolio, which accounts for 70% of total assets, grew by 18 percent in the same period, reaching TL 75.5 billion. While the Bank’s shareholders’ equity increased by 39 percent in the same period to TL 9.6 billion, the net profit for the nine-month period reads as TL 2.6 billion. Thus, TSKB completed the third quarter of the year with a return on equity ratio of 42.5 percent.
TSKB CEO Murat Bilgiç: “In the third quarter of the year, we maintained our strong performance in line with our expectations.”
Commenting on TSKB’s financial results for the third quarter of 2022, TSKB CEO Murat Bilgiç said, “As TSKB, we continue to support the economic, environmental and social development of our country and create added value for the green transformation of the real sector with our sustainable and inclusive banking vision. In the third quarter of the year, we delivered a strong financial performance in line with our expectations. While the total asset size of our Bank reached TL 108.3 billion, our total loan portfolio, which indicates our direct contribution to the real economy, amounted to TL 75.5 billion with a share of 70 percent from our total assets. We further strengthened our healthy assets with a prudent approach. In addition to financing sustainability-themed investments, we continued to offer innovative and alternative solutions to our customers with our investment banking and advisory services.”
“I am confident that we will successfully complete 2022 in line with our financial and non-financial targets.”
Stating that with the increasing contribution of investment banking activities, fee and commission income and income from participations supported the Bank’s profitability with an increase of more than 100 percent on an annual basis, Bilgiç went on to add: “I am confident that we will successfully complete 2022 in line with our financial and non-financial targets. In all of our Corporate Banking, Investment Banking and Advisory services, we attach great importance to creating shared value with our stakeholders and supporting the sustainable and inclusive growth of our country. Today, as an organization that has succeeded in integrating our entire banking model end-to-end with the principles of sustainability and inclusiveness, we aim to further increase our positive impact by developing new products and projects. In this context, in October, we became a signatory of the Net-Zero Banking Alliance established by the United Nations Environment Program Finance Initiative. With this signature, we commit to align our loan and investment portfolio with zero emission targets by 2050.
“TSKB’s solutions for a sustainable future are recognized in the international arena”
Highlighting that in the third quarter of the year, TSKB won the “Turkey's Best Sustainability Practices in Banking” award at The Global Economics Awards 2022, the honorary award in the “Non-traditional Integrated Annual Reports” category of ARC Awards, and two different awards in the categories of talent management and training at the Excellence Awards organized by Brandon Hall Group, Bilgiç commented: “We are proud and pleased that the solutions we produce for a sustainable future are recognized in the international arena. Together with our customers, fund providers, colleagues and all our business partners, we will continue to grow the shared impact we create and take decisive steps towards the development of our country.”
