Integrated Annual Report 2025

MULTIDIMENSIONAL DEVELOPMENT SPANNING 75 YEARS

As Türkiye’s first privately owned development and investment bank, we leverage over 75 years of deep knowledge and experience into projects that support our country’s transition to a sustainable future. Through distinctive and pioneering projects implemented with a people-centered approach, we have contributed to Türkiye’s development since our establishment.
‍
Since 1950, drawing on the strength of our long-standing relationships with national and international stakeholders, we have provided our business partners with services in corporate banking, investment banking, and advisory.
‍
While contributing to Türkiye’s production capacity, its triple transformation, and the achievement of inclusive development goals, we act as a driving force for sustainable development by means of initiatives in renewable energy, social investments, women’s and youth employment, innovative financing models, and the circular economy.

Multidimensional Development Spanning 75 Years

IMPACT-DRIVEN ACTIONS SUPPORTED BY STRONG FINANCIALS

In 2025, as we further strengthened our financial performance, we enhanced our impact in advancing inclusive and sustainable development. During this period, our total assets reached TL 326.7 billion, while our loan portfolio grew by 11.2% on a currency-adjusted basis to TL 235.9 billion. Loans linked to the Sustainable Development Goals (SDGs) accounted for 92.3% of our total loan portfolio, while those contributing to climate- and environment-related SDGs represented 59.2%.
‍
Throughout the year, in line with our growth strategy, we continued to support our strong liquidity by means of funding activities. Through our syndication loans, Eurobond issuances, and private placements, we secured USD 1.8 billion in funding from development finance institutions and financial organizations, marking a historical high for TSKB. In line with these developments, we also increased our sustainable finance targets, raising our SDG-linked financing target to USD 15 billion by 2030 and our climate finance target to USD 5 billion. In addition, we set a new social finance target of USD 3 billion for the 2024–2030 period. By enabling the first investment of the Türkiye Green Fund, we mobilized private sector capital through tangible steps to accelerate the growth of companies aligned with Türkiye’s sustainable development objectives.

Impact-Driven Actions Supported by Strong Financials

SUSTAINABLE FINANCE
WITH INCLUSIVE THEMES

We provide long-term financing to investments that support Türkiye’s economic and social development, particularly in the fight against climate change. In 2025, we contributed approximately USD 2 billion to the Turkish economy through our long-term cash loans. Key investment themes financed during the year included renewable energy, hybrid renewable power plants, energy and resource efficiency, energy storage, and capacity expansion, as well as advanced technology investments, infrastructure investments, and prosumer investments. In terms of social impact, we continued to provide support to earthquake-affected regions as well as to projects promoting inclusiveness.
‍
Having financed 14% of Türkiye’s renewable energy installed capacity and supported energy efficiency investments since the 2010s, we play a leading role not only through mitigation loans, but also through investments in climate adaptation and the circular economy, thus contributing to the broader fight against climate change.

Sustainable Finance with Inclusive Themes

STRONG ENVIRONMENTAL, SOCIAL, AND GOVERNANCE STRUCTURE

The policies we implement, the standards we follow, and the ethical principles upheld at the Board of Directors level are recognized with consistently high rankings on prestigious international lists and strong ratings.
‍
As of the end of 2025, our Bank received an ESG Risk Rating of 7.4 from Sustainalytics, ranking 9th among 90 global banks and 12th among 1,012 international banks. We also entered the Global 100 Most Sustainable Corporations in the World list, published annually by Corporate Knights, for the second time, rising to 37th place. As the only Turkish bank on the list, we ranked first among the four international banks included. According to the Sustainable Fitch assessment, our Bank achieved a score above both the EMEA region and global averages, ranking first in Türkiye and becoming the only Turkish bank placed in the second performance category.

Strong Environmental, Social, and Governance Structure

OUR PRIORITIES IN SUSTAINABLE DEVELOPMENT: PEOPLE, NATURE AND BIODIVERSITY

Adopting the “twin crisis” approach, which addresses climate change and nature loss together, we expanded our sustainability management perspective to include the nature dimension through the TSKB Nature and Biodiversity Policy, published in February 2026. Furthermore, we comprehensively reviewed and updated our Sustainability Policy set, which forms the foundation of our sustainability vision, as well as our List of Non-Financed Activities, with a focus on the protection and restoration of nature and biodiversity.
‍
In addition to agreements signed to increase youth and women’s employment and reduce inequalities, we carried out equality and inclusion initiatives with the Bank’s employees, our suppliers, and customers. Through our Gender Equality Certification Program and Inclusive Language Guide, we continued to strengthen our impact in this area.

Our Priorities in Sustainable Development: People, Nature and Biodiversity

TSKB’S IMPACT IN SOCIAL AND CULTURAL DEVELOPMENT

For more than 75 years, we have approached development from a multi-dimensional perspective, evaluating our financial performance alongside our journey toward social and cultural progress. Accordingly, in 2025, as we celebrated the 75th anniversary of our Bank, we further deepened our projects focused on environment, people, and culture, thereby expanding our sphere of impact.
‍
In line with our vision of an inclusive and sustainable future, we consistently strive to create lasting and transformative value for society across a broad ecosystem, ranging from education to the arts and from environmental initiatives to entrepreneurship.

TSKB's Impact in Social and Cultural Development

MULTIDIMENSIONAL DEVELOPMENT SPANNING 75 YEARS

As Türkiye’s first privately owned development and investment bank, we leverage over 75 years of deep knowledge and experience into projects that support our country’s transition to a sustainable future. Through distinctive and pioneering projects implemented with a people-centered approach, we have contributed to Türkiye’s development since our establishment.
‍
Since 1950, drawing on the strength of our long-standing relationships with national and international stakeholders, we have provided our business partners with services in corporate banking, investment banking, and advisory.
‍
While contributing to Türkiye’s production capacity, its triple transformation, and the achievement of inclusive development goals, we act as a driving force for sustainable development by means of initiatives in renewable energy, social investments, women’s and youth employment, innovative financing models, and the circular economy.

Multidimensional Development Spanning 75 Years

IMPACT-DRIVEN ACTIONS SUPPORTED BY STRONG FINANCIALS

In 2025, as we further strengthened our financial performance, we enhanced our impact in advancing inclusive and sustainable development. During this period, our total assets reached TL 326.7 billion, while our loan portfolio grew by 11.2% on a currency-adjusted basis to TL 235.9 billion. Loans linked to the Sustainable Development Goals (SDGs) accounted for 92.3% of our total loan portfolio, while those contributing to climate- and environment-related SDGs represented 59.2%.

Throughout the year, in line with our growth strategy, we continued to support our strong liquidity by means of funding activities. Through our syndication loans, Eurobond issuances, and private placements, we secured USD 1.8 billion in funding from development finance institutions and financial organizations, marking a historical high for TSKB. In line with these developments, we also increased our sustainable finance targets, raising our SDG-linked financing target to USD 15 billion by 2030 and our climate finance target to USD 5 billion. In addition, we set a new social finance target of USD 3 billion for the 2024–2030 period. By enabling the first investment of the Türkiye Green Fund, we mobilized private sector capital through tangible steps to accelerate the growth of companies aligned with Türkiye’s sustainable development objectives.

Impact-Driven Actions Supported by Strong Financials

SUSTAINABLE FINANCE
WITH INCLUSIVE THEMES

We provide long-term financing to investments that support Türkiye’s economic and social development, particularly in the fight against climate change. In 2025, we contributed approximately USD 2 billion to the Turkish economy through our long-term cash loans. Key investment themes financed during the year included renewable energy, hybrid renewable power plants, energy and resource efficiency, energy storage, and capacity expansion, as well as advanced technology investments, infrastructure investments, and prosumer investments. In terms of social impact, we continued to provide support to earthquake-affected regions as well as to projects promoting inclusiveness.

Having financed 14% of Türkiye’s renewable energy installed capacity and supported energy efficiency investments since the 2010s, we play a leading role not only through mitigation loans, but also through investments in climate adaptation and the circular economy, thus contributing to the broader fight against climate change.

Sustainable Finance with Inclusive Themes

STRONG ENVIRONMENTAL, SOCIAL, AND GOVERNANCE STRUCTURE

The policies we implement, the standards we follow, and the ethical principles upheld at the Board of Directors level are recognized with consistently high rankings on prestigious international lists and strong ratings.

As of the end of 2025, our Bank received an ESG Risk Rating of 7.4 from Sustainalytics, ranking 9th among 90 global banks and 12th among 1,012 international banks. We also entered the Global 100 Most Sustainable Corporations in the World list, published annually by Corporate Knights, for the second time, rising to 37th place. As the only Turkish bank on the list, we ranked first among the four international banks included. According to the Sustainable Fitch assessment, our Bank achieved a score above both the EMEA region and global averages, ranking first in Türkiye and becoming the only Turkish bank placed in the second performance category.

Strong Environmental, Social, and Governance Structure

OUR PRIORITIES IN SUSTAINABLE DEVELOPMENT: PEOPLE, NATURE AND BIODIVERSITY

Adopting the “twin crisis” approach, which addresses climate change and nature loss together, we expanded our sustainability management perspective to include the nature dimension through the TSKB Nature and Biodiversity Policy, published in February 2026. Furthermore, we comprehensively reviewed and updated our Sustainability Policy set, which forms the foundation of our sustainability vision, as well as our List of Non-Financed Activities, with a focus on the protection and restoration of nature and biodiversity.

In addition to agreements signed to increase youth and women’s employment and reduce inequalities, we carried out equality and inclusion initiatives with the Bank’s employees, our suppliers, and customers. Through our Gender Equality Certification Program and Inclusive Language Guide, we continued to strengthen our impact in this area.

Our Priorities in Sustainable Development: People, Nature and Biodiversity

TSKB’S IMPACT IN SOCIAL AND CULTURAL DEVELOPMENT

For more than 75 years, we have approached development from a multi-dimensional perspective, evaluating our financial performance alongside our journey toward social and cultural progress. Accordingly, in 2025, as we celebrated the 75th anniversary of our Bank, we further deepened our projects focused on environment, people, and culture, thereby expanding our sphere of impact.

In line with our vision of an inclusive and sustainable future, we consistently strive to create lasting and transformative value for society across a broad ecosystem, ranging from education to the arts and from environmental initiatives to entrepreneurship.

TSKB's Impact in Social and Cultural Development

MESSAGE FROM THE CHAIRPERSON

Through our strong and long-standing collaborations with international development institutions, we secured USD 1.8 billion in funding for our country.

HAKAN ARAN
Chairperson of the Board of Directors, TSKB

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Hakan Aran

MESSAGE FROM THE CEO

SDG-linked loans comprise 92% of our loan portfolio, with nearly 60% allocated to climate- and environment-focused investments.

OZAN UYAR
Board Member and CEO

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Ozan Uyar

MESSAGE FROM
THE SUSTAINABILITY LEADER

As of the end of 2025, TSKB received an ESG Risk Rating of 7.4 from Sustainalytics, ranking 9th among 90 global banks and 12th among 1,012 international banks.

MERAL MURATHAN
Executive Vice President and Sustainability Leader

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Meral Murathan

High-Priority Topics

Priority topics are reassessed annually based on stakeholder feedback and impact analyses. The 2025 list reflects the evolving sustainability agenda.

High-Priority Topics
Sustainable Financial Performance
Management of Climate Risks and Opportunities
Ethics, Legal Compliance, and Anti-Corruption
Supporting the UN SDGs
Cyber Security and Data Protection
Effective Risk Management
Customer Experience
Stakeholder Capitalism and International Cooperation
Environmental and Social Impact Monitoring and Reporting
Protection of Nature and Biodiversity
Environment
Social
Governance

Value Creation Model

Activities are evaluated across five capital categories; inputs, outputs and impacts are reported within an integrated framework. This model provides a basis for addressing financial performance together with environmental, social and governance dimensions.

Financial Capital
Financial
Capital
Natural Capital
Natural
Capital
Social Capital
Social
Capital
Human Capital
Human
Capital
Intellectual and Manufactured Capital
Intellectual and Manufactured Capital
Inputs
Diversified Funding Structure and Strong Liquidity
State-Guaranteed
Funds
Strong
Financial Structure
Value Created and Impact
5.6%
Net Interest Margin
29.3%
Return on Equity
25.7%
Capital Adequacy Ratio
 

92%

Share of SDG-linked loans in the total portfolio

Inputs
Environmental and Social Risk and Impact Assessment
Sustainability Strategy Integrated into Business Processes
Net Zero Commitment and Strategy for 2050
Value Created and Impact
A Contribution of 15 Million Tons of CO₂ Emissions Reduction Through Renewable Energy Projects
New Theme: Adaptation Investments
A New Focus Area Introduced Through the Nature and Biodiversity Policy
 

59%

Share of loans contributing to climate- and environment-related SDGs

Inputs
Inclusiveness Embedded in the Bank’s Mission
Long-Term Stakeholder Engagement
Support for Entrepreneurship and Innovation
Value Created and Impact
Impact Report On Women’s Employment Projects
Raising Awareness on Equal Opportunity Through the “Equal Steps” Initiative
11 Libraries in 11 Provinces and Kindergarten Classrooms Projects
 

~1,500

Additional Women Employment Through the 2016 and 2019 Women’s Empowerment Loan Agreements

Inputs
Investment
in Human Capital
Equal Opportunity and
‍Diversity
An Agile and Efficient
‍Business Approach
Value Created and Impact
53%
Women Representation in Management
27%
Women Representation on the Board of Directors
0.06
Gender Pay Gap
 

52%

Women representation across the Bank

Inputs
Digital Transformation and
the Use of AI
Sectoral Expertise
Advisory Services Leveraging Accumulated Know-How
Value Created and Impact
9.5/10
TSKB Advisory Services Net Promoter Score
434
Number of TSKB Economic Research Reports
65,000+
Electronic and Printed Books and Articles in the TSKB Library
 

120+

Number of RPA Processes deployed into production

APPENDICES

Compliance with international sustainability standards is documented through independent frameworks and shared with the public. Tables and indices under UNGC, WEPs and WEF are presented in PDF format.

SASB Index
TPT Index
UNEP-FI Principles for Responsible Banking Progress Statement
GRI Content Index
UNGC AND WEPs Indices
WEF Stakeholder Capitalism Index

ABOUT THE REPORT

The 2025 Integrated Annual Report of TSKB, which presents the Bank’s financial, environmental, social and governance performance for the period between January 1 and December 31, 2025, and includes the Board of Directors’ Annual Report, has been prepared in compliance with the minimum reporting requirements of the Banking Regulation and Supervision Agency (BRSA) and the Capital Markets Board of Türkiye (CMB). The Bank does not have any operations abroad, and the Report covers its activities conducted in Türkiye.

Türkiye Sınai Kalkınma Bankası
Meclis-i Mebusan Caddesi, No: 81, Fındıklı, Beyoğlu, İstanbul, Türkiye