TSKB's loan size reached TRY 10.5 billion

31 October 2014
- 3 min Read

TSKB disclosed its Third Quarter Financial Results

Industrial Development Bank of Türkiye (TSKB) announced its third quarter financial results. According to the statement released by TSKB, asset size of the Bank reached TRY 14.7 billion, while its loan size amounted to TRY 10.5 billion in the first nine months of 2014.

Industrial Development Bank of Türkiye (TSKB) elevated its assets up by 13.6% to TRY 14.7 billion and its loans by 14.9% to TRY 10.5 billion in the first nine months of 2014. The Bank attained an annual asset growth of 20.2% and a yearly loan growth of 26%. Having enhanced its strong capital structure to TRY 2.1 billion with 14% increase since the beginning of the year, TSKB delivered an average return on equity ratio of 19%. For the same period, the average return on assets ratio of the Bank was recorded as 2.8%.

While TSKB’s bank-only profit before tax reads as TRY 359.3 billion, its net profit surged by 17.7% year-on-year reaching TRY 288 million. TSKB’s CEO Mr. Özcan Turkakın who reviewed the first nine months financial results of the Bank expressed that: “Having achieved a stellar performance in the third quarter, the Bank continues to boast and diversify its long-term funding base in line with its growth targets. Since the beginning of the year, TSKB secured USD 840 million of additional long term funding from six different developmental financial institutions. Moreover, the Bank’s recent Eurobond issuance succeeded to receive four times demand last week. Including the syndication loan, which was rolled over successfully within the year, total amount of long term funds secured from international markets has been approximately USD 1.3 billion. With the new loan agreements of this year, we will continue to finance energy efficiency, resource efficiency and renewable energy investments which have paramount importance in the sustainable growth of Türkiye. In addition; sustainable tourism, enviromental, logistics and infrastructure projects will be on our agenda.”