TSKB's Asset Size Reaches TL 59.6 Billion

4 August 2021
- 5 min Read

Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) has announced the operational results for the first half of 2021. TSKB's non-consolidated financial statements indicated that the Bank's total asset size reached TL 59.6 billion. In her comments, TSKB CEO Ece Börü said: "Our bank announced robust financial results in the second quarter of 2021 during which vaccination gained momentum. As part of our sustainable and inclusive development banking approach, we will continue to partner with our stakeholders on their journey of change and transformation through our corporate banking, investment banking and advisory services. We will proceed without pause to generate innovative solutions for the needs of our customers regarding climate risks and opportunities.

In the first half of 2021, the Industrial Development Bank of Turkey (TSKB) increased its total asset size by 15.7 percent to TL 59.6 billion compared to the beginning of the year. In addition, the Bank's cash loans grew by 18.7 percent and reached TL 46.4 billion in the first half of the year.

TSKB's equity stood at TL 6.4 billion with a rise of 5.2 percent while its half-year net income for the period was TL million 478.8. The Bank completed the first half of the year with a capital adequacy ratio of 18.3 percent.

Stating that, The Bank achieved robust financial results in the second quarter of 2021 during which vaccination gained momentum, TSKB CEO Ece Börü continued that the Bank's continued to finance renewable energy projects and inclusiveness-themed investments in various sectors and to support the working capital needs of clients on the rise due to the pandemic. Indicating that they continued to partner with their stakeholders on their journey of change and transformation through their corporate banking, investment banking and advisory services as part of their sustainable and inclusive development banking approach, Börü said that they would proceed without slowing down so as to generate innovative solutions for the needs of their clients emerging on the axis of climate risks and opportunities.

"The pandemic and global uncertainties increase the importance of sustainable investments"

Explaining that TSKB's sustainability journey, which started with environmental loans in 1990s, has continued with a focus on adapting to the climate change, which has gained critical importance all over the world in recent years and has taken its toll in the wake of the pandemic, Börü said: "While the acceleration of vaccination around the world is welcome, the rise in cases due to different variants results in the continuation of global uncertainties. On the other hand, we are seeing the impact of climate change all over the world effecting natural disasters. The wild fires observed in our country and around the world in these days underline once again the cooperation and preventive steps against the risks of climate crisis. As TSKB, we will mainly focus on qualified support protecting the future of our stakeholders in this period when sustainable investments are gaining even more importance.”

“We continue to support our business partners with our Sustainability-Linked Syndicated Loan”

TSKB had broken a new ground in sustainability in Turkey thanks to the loan linked with the ESG Risk Rating score that it had obtained in November 2020. TSKB has renewed its syndicated loan this year in line with the sustainability criteria. Emphasizing that they obtained a syndicated loan amounting to USD 192 million with the participation of a total of 14 banks from 11 different countries and, thus, the renewal rate of the loan extended was 130 percent, Börü announced that they would continue to create added value for the national economy through innovative borrowing instruments in line with their mission in the upcoming period.

We published the first “Climate Risks Report” in the Turkish banking sector in consideration of the recommendations of TCFD

Reminding that they became the only bank from Turkey to have joined the Task Force on Climate-Related Financial Disclosures (TCFD) Phase 2 Banking Pilot Program in 2020, Börü went on to say: "We joined the Phase 3 program this year. We shared our strategy regarding climate risks and opportunities and our long-term Science-Based Targets through the Climate Risks Report, which we have drawn up by taking into account the recommendations of TCFD. Being a first for the Turkish banking industry, this report encompasses the place of climate change in our strategy and governance structure, the relevant risks and opportunities identified along with our evaluations. Through our road map and long-term objectives, we have underlined our commitment to continue supporting our country's transition to a low-carbon industry apace." Integrating ESG (Environmental, Social and Governance) topics into its business model in a holistic way, TSKB supports the sustainable and inclusive development of Turkey through its dynamic strategy aligned with global developments. Under its 2021-2025 roadmap, TSKB aims to bring the share of SDG-linked loans within the total portfolio to 90% and the share of the loans contributing to climate and environment-linked SDGs to 60%.

TSKB was rewarded with prestigious sustainability awards from global organizations in the second quarter of the year

Suggesting that they were rewarded with reputable awards from global platforms during the second quarter of the year through the innovative projects introduced in terms of sustainability in the finance sector, Börü said: "We were awarded the first prize in The Banker Magazine's 'Islamic Finance Deal of the Year in Europe' category with the issuance of a Sustainable Lease Certificate worth TL 50 million completed under the TL 450 million Sukuk Issuance Program we created on behalf of Zorlu Energy in 2020. We have been rewarded with "Turkey's Most Sustainable Bank" award within the banking awards organized by the World Finance Magazine, the prestigious publication institution of the international finance world. Most recently, we have been named the Best Bank for 'Sustainable Finance' category in Central & Eastern Europe at the 'Awards for Excellence' organized by Euromoney Magazine, one of the world's most significant publications on international finance. Being rewarded by global platforms owing to the projects introduced by us through the effective support of all our teams confirms the appropriateness of our strategies in this field once again while also boosting our motivation to always achieve the better."