TSKB's Asset Size Reaches TRY 25.8 Billion
Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) has announced the figures for the first six months of 2017. TSKB's non-consolidated financial statements indicated that the Bank's total asset size reached TRY 25.8 billion. Stating that they maintained their robust financial performance in the first half of 2017 while sustaining their contribution to Turkey's development, Suat Ince, TSKB CEO, said, "The first half of the year saw positive developments in terms of both our country and TSKB. In this six-month period, we extended a syndicated loan worth USD 300 million with a successful renewal rate. Furthermore, our Subordinated Sustainable Bond issuance received four times more international demand than initially planned. We believe such performance by our Bank in relation to international funds represents the confidence in the Turkish economy and TSKB alike. We believe in and are confident for the country's future."
In the first half of 2017, TSKB's total asset size grew by 7.5 percent to reach TRY 25,794 million. In addition, the Bank's cash loans grew by 13 percent and reached TRY 19,586 million in the same period. TSKB's net profit for the period increased by 17 percent year-on-year and stood at TRY 291.3 million.
In the first six months, TSKB's equity rose by 8.6 percent to TRY 3,182 million, coupled with an annual return on equity rate of 19.1 percent and an annual return on assets rate of 2.3 percent.
TSKB CEO Suat Ince: "We believe in and are confident for the country's future"
Stating that they maintained their robust financial performance in the first half of 2017 while launching leading practices, Suat Ince, TSKB CEO, said, "The first half of the year saw positive developments in terms of both our country and TSKB. We combined our robust financial structure, sustainable banking approach and 67 years of experience and used it as a leverage to perform work that consequently confirmed the confidence in our Bank both nationally and internationally. This year, we extended a syndicated loan worth USD 300 million with a successful renewal rate of 108%. We plan to utilize the syndicated loan in order to offer foreign trade financing solutions to private sector companies as a priority. Furthermore, our Subordinated Sustainable Bond issuance in the first quarter received four times more international demand than initially planned. We believe such performance by our Bank in relation to international funds represents the confidence in the Turkish economy and TSKB alike. We believe in and are confident for the country's future."
Elaborating on the lending operations in the first six months, Suat Ince said, "In this period, we maintained our pace in supporting the qualified development of our country. The loan agreements we signed in the first six months amounted to USD 1.6 billion while the amount of cash loans we extended stood around USD 1 billion. Recently extended loans focused on renewable energy projects, infrastructure investments for organized industrial zones and commercial real estate projects having green certificates. We took up women's employment as an item on our agenda at the beginning of the year and have extended funds for investments by companies that are sensitive about equal opportunities. Women's employment has consequently emerged as a specifically attractive theme for investors."
"We are proud to receive international acknowledgment"
Suat Ince said they had the pride of receiving international acknowledgment for their groundbreaking achievements in the banking sector, not to mention their successful financial performance in the first half of the year: "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. TSKB also received a total of five different awards at "EMEA Finance Awards" organized by EMEA Finance, a prominent magazine in the Middle East and Africa, comprised of one award for Green/Sustainable Bond issuance and four for Project Finance. I would like to thank my valuable friends and team members for these awards which made us so proud."
