TSKB's asset size reaches TRY 25.4 billion

TSKB has announced the operational results for the first quarter of 2017. TSKB's non-consolidated financial statements indicated that the Bank's total asset size reached TRY 25.4 billion. Stating that they maintained their robust financial performance in the first quarter of 2017 while sustaining their pioneering practices, Suat Ince, TSKB CEO, said, "Our experience in sustainability enabled us to attain two great achievements in the first quarter. We emerged as the first bank in the Turkish finance industry to launch Integrated Reporting and thus made an outstanding contribution for the roll-out of the new generation reporting approach in our country. We made history as the first bank to issue a Subordinated Sustainable Bond in the world, an incredibly exciting achievement for us. Our bond issuance worth USD 300 million received four times demand from international investors. I would like to underline that this demand is a symbol of trust in not only TSKB but also the Turkish economy."

In the first quarter of 2017, TSKB's total asset size grew by 5.9 percent to reach TRY 25,412 million. In addition, the Bank's cash loans grew by 7.7 percent and reached TRY 18,664 million in Q1. TSKB's net profit for the period increased by 6.4 percent year-on-year and stood at TRY 140.8 million.

In the first quarter, TSKB's shareholders’ equity rose by 2.2 percent to TRY 2,991 million, coupled with an annual return on equity rate of 19.0 percent and an annual return on assets rate of 2.3 percent.

Suat Ince, TSKB CEO: "We broke new grounds in the first quarter of the year"

Stating that they maintained their robust financial performance in the first quarter of 2017 while sustaining their pioneering practices, Suat Ince, TSKB CEO, said, "Our experience in sustainability enabled us to attain two great achievements in the first quarter. We emerged as the first bank in the Turkish finance industry to launch Integrated Reporting and thus made an outstanding contribution for the roll-out of the new generation reporting approach in our country. We made history as the first bank to issue a Subordinated Sustainable Bond in the world, an incredibly exciting achievement for us. Our subordinated sustainable bond issuance worth USD 300 million on a 10-year maturity received four times more international demand than initially planned. I would like to underline that this demand is a symbol of trust in not only TSKB but also the Turkish economy." Our new issuance not only strengthened our equity base but also helped us create additional funds for sustainability investments. The funds obtained from the bond issuance will be used to support renewable energy and resource efficiency investments addressing climate change as well as healthcare and education projects for social good."

"We will support private sector investments in cooperation with the Credit Guarantee Fund"

Ince said, in the first quarter, they joined the "Credit Guarantee Fund" (KGF), which aimed to facilitate the access of SMEs and non-SME enterprises to funding, another highlight from the period. "We believe our involvement in the KGF mechanism as a development and investment bank is critical. The support we will extend to private sector investments under the KGF mechanism is expected to contribute positively to our customer base and capital structure alike."

"We are glad to be appreciated in the international arena"

Suat Ince said that they are glad to be appreciated in the international arena for their groundbreaking achievements in the banking sector, not to mention their successful financial performance in the first quarter:

"Last year's Green/Sustainable Bond issuance, a groundbreaking sustainability landmark, continued to receive awards in 2017 as well. TSKB was crowned the winner in "SRI Bond Deal of the Year" category in 2016 Awards by International Finance Review (IFR), a Thomson Reuters publication. Furthermore, we were extremely happy to be among the organizations to get the highest number of awards at Bonds&Loans awards. At Bonds&Loans, we received a total of six different awards in the categories of Green/Sustainable Bond issuance, syndicated loan and Project Finance. I would like to thank my valuable friends and team members for these awards which made us so proud."