TSKB's total loan book reached TRY 8.4 billion

TSKB's total loan book surged up by 21.4% in the first nine months of 2013 to TRY 8.4 billion.

Turkey's first privately-owned development and investment bank, the Industrial Development Bank of Turkey(TSKB) announced its third quarter financial results. TSKB's asset size reached TRY 12.2 billion, recording an annual increase of %23. As of 30th of September 2013, TSKB sustained its strong capital structure at TRY 1.8 billion while delivering a ROAE of 18.2% and a ROAA of 2.9%.

TSKB's loan portfolio reached TRY 8.4 billion with an increase of 25.9% compared to first nine months of the previous year. The year-to-date loan growth was 21.4%. Parallel to its sound loan growth, TSKB continued to secure its strong asset quality. Thanks to this performance, NPL ratio of the bank in the third quarter contracted further to 0.2%.

Net interest income reached TRY 351.7 million with a 11.5% increase compared to the first nine months of the previous year. Total operating income soared by 5.4% to TRY 392.6 million.

TSKB's bank-only profit before tax reads as TRY 301.8 million, exceeding the last years figure, while net profit was recorded as TRY 244.6 million with an annual increase of 2.1%.