TSKB's Asset Size Reaches TL 60.1 Billion

02 November 2021
- 3 min Read

Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) has announced its financial results for the third quarter of 2021. According to TSKB's non-consolidated financial statements, the Bank's total asset size reached to TL 60.1 billion. Commenting on the results, TSKB CEO Ece Börü stated that the Bank recorded a successful performance in line with its expectations during the first nine months of the year, where renewable energy, inclusiveness and capacity increase investments lead long-term loans are approximately USD 850 million and that they would continue to work for the sustainable development of Turkey in the remaining part of the year as well.

Continuing to perform its operations in the light of its investment and development banking mission, TSKB increased its total asset size by 17 percent to TL 60,1 billion during the first nine months of the year. In addition, the Bank's loan portfolio grew by 16 percent to reach TL 45,6 billion. Renewable energy, inclusiveness and capacity increase investments leaded TSKB's long-term loans in terms of cash are approximately USD 850 million during the first nine months.

While TSKB's equity stood at TL 6,7 billion with a rise of 10 percent during the same period of the year, its cumulative net income for the first nine months was TL 774,3 million. Having achieved a return on equity of 16,1 percent, the Bank completed the first nine months of the year with a capital adequacy ratio of 18,7 percent.

Pointing out the Paris Climate Agreement which was ratified by the Republic of Turkey, would launch a new climate policy period for Turkey, Börü said: “Sharing its roadmap against the climate change as well as medium and long-term targets with its stakeholders through the Climate Risks Report published last May, our bank is continuing to engage in activities on climate risks consistent with its targets. Considering the potential impacts of the European Green Deal announced by the European Commission on Turkey, TSKB aims to offers direct and indirect support to its clients in their transition processes. Through our dynamic business model that adapts to emerging conditions, we will continue to meet the needs of our stakeholders, to be a partner in their transformation via innovative solutions, and to contribute to the sustainable development of our country without slowing down.”

“TSKB continues to engage in activities aimed at creating an investment culture encompassing environmentally-friendly, sustainable and positive social impacts with SDG-oriented loans extended to its clients.”

Börü stated that; “Following the SDG-mapping project completed last year, TSKB both measures the impacts of its loan book and also diversifies its product range”. Börü also added that; “Our Bank continues its activities with the aim of creating environmentally friendly, sustainable and positive social impact added investment culture in Turkey. Our approach continued in the third quarter of the year by supporting SDG focused investment and working-capital loans.”

“We plan to boost our support for social entrepreneurs with our focus on sustainability”

Stressing that TSKB became the first bank in the financial sector to initiate afforestation by aerial seeding by combining forces with the social enterprise "ecording" by moving its support for sustainable development beyond the limits of business model, Börü said, “Within one year, our bank aims to throw a total of 150 thousand seed balls via ecoDrone in the areas designated by the Directorate General of Forestry on behalf of the firms to which it lends loans within the framework of the collaboration established with ecording, a social enterprise developing sustainable and innovative environmental technologies. In this way, we plan to contribute to Turkey's sustainable and low-carbon economy while also boosting our support for social entrepreneurs.”

“With our ESG risk rating, we remain at the top of Turkish banks”

Indicating that TSKB has proven its distinctive performance in environmental, social and governance (ESG) areas with its score assessed by reputable rating institutions, Börü stated that the bank, which successfully completed the ESG and corporate governance rating processes during the third quarter, recorded improvements in both ratings. Expressing that TSKB keeping its place at the top among Turkish banks with an ESG risk rating of 13.6 as evaluated by Sustainalytics is ranked 6th among the global banks in its category.