TSKB's loan portfolio reached 7.1 billion TRY in the 1st Quarter of 2013

Turkey’s first privately-owned development and investment bank, the Industrial Development Bank of Turkey (TSKB) announced a total loan portfolio of 7.1 billion TRY in the first quarter of 2013, with a net bank-only profit of TRY 84.7 million. TSKB’s profit before tax reads as TRY 105.1 million.

The Industrial Development Bank of Turkey (TSKB) disclosed its financial results of March 31st, 2013. TSKB’s total assets surged by 11.6% compared to first quarter of 2012, rising to TRY 10.6 billion. As of 31st of March 2013, TSKB sustained its strong capital structure at TRY 1.8 billion while delivering a ROAE of 19.3% and a ROAA of 3.2%.

TSKB’s loan portfolio reached TRY 7.1 billion with an FX-adjusted increase of 12% compared to first quarter of the last year. The FX-adjusted loan growth during the first three months of 2013 was 3%. .

Net interest income reached TRY 111.3 million with a 6.8% increase compared to the first quarter of the last year. Total operating income increased by 13.7% to TRY 135.3 million.

TSKB’s bank-only profit before tax reads as TRY 105.1 million, with a yearly increase of 5.6%, and its net profit as TRY 84.7 million, with a yearly increase of 4.2%.

TSKB, which has become one of the leading financial institutions in renewable energy and energy efficiency finance with the funds it has lent to finance related type of projects for 8 years, added sustainable tourism sector to its agenda with a EUR 100 million multilateral funding agreement the Bank signed with European Investment Bank in April, 2013. The funding agreement which is guaranteed by the Turkish Treasury will be used in the finance of small and medium size sustainable tourism and energy efficiency investments of Turkish firms operating in tourism sector.