322.8 million TL net profit from TSKB in the first half of the year

Turkish Industrial and Development Bank (TSKB) announced a consolidated net profit of 322.8 million TL in the first half of the year.

In the statement made by TSKB on the Public Disclosure Platform (KAP), the bank announced a consolidated net profit of 322 million 757 thousand TL in the first half of this year.

The bank made a consolidated net profit of 384 million 955 thousand TL in the same period last year.

TSKB, which made a consolidated net profit of 214 million 547 thousand TL in the second quarter of last year, announced a consolidated net profit of 170 million 346 thousand TL in the same period of this year.

“We continued our support to the Turkish economy”

TSKB Deputy General Manager Ece Börü said, “In these days when the effects of the epidemic begin to slow down, we will continue to create value for our customers and our country by using the capital elements we have in the most effective way with our responsible banking approach and sustainable development focus, which are the building blocks of TSKB culture.” said.

According to the statement made by Turkish Industrial Development Bank A.Ş. (TSKB), TSKB announced its operating results for the first half of 2020. According to TSKB’s unconsolidated financial statements, total asset size reached 46.8 billion TL.

TSKB increased its total asset size by 12.8 percent compared to the beginning of the year, reaching 46.8 billion TL in the first half of 2020. The bank’s total loan portfolio grew by 11.5 percent in the same period, reaching 35.1 billion TL.

While a profit before provision and tax of 868.9 million TL was obtained in the first six months, the net profit for the period was 322.0 million TL. Thus, an adjusted return on equity ratio of 12.4 percent and a capital adequacy ratio of 16.6 percent were achieved in the second quarter.

Stating that TSKB continued all its activities with full efficiency by giving priority to protecting the health of its employees and stakeholders in the second quarter, when the effects of the coronavirus epidemic were felt, and continued its support to the Turkish economy uninterruptedly, TSKB Deputy General Manager Ece Börü stated that they achieved financial results in line with expectations in the second quarter and said the following: noted:

“We continued the cash financing of investments, especially renewable energy loans, during the investment period, which coincided with the pandemic process, without slowing down. However, in sectors such as food and cleaning-hygiene, capacities were required to respond to pandemic-induced demand and companies began to diversify their products in order to meet the needs in the ‘new normal’ period.” We supported our customers by providing them with investment loans in order to enable them to go ahead. We also tried to meet their business loan needs in order to maintain the efficient operation of the production lines and ensure supply security. In line with our development banking mission, we planned the necessary amortization by taking into account the activities of our customers for the upcoming period, whose cash flows were relatively negatively affected in this period. We tried to assist with the changes and offered case-based solutions for working capital needs. In these days when the effects of the epidemic begin to slow down, we will continue to create value for our customers and our country by using the capital elements we have in the most effective way with our responsible banking approach and sustainable development focus, which are the building blocks of TSKB culture. “

“Our bank continued to undertake important work in the second quarter”

Börü noted that the bank has again accomplished important work with its investment banking activities under the current conditions, and said, “At the beginning of June, we issued Turkey’s first Sustainable Lease Certificate for Zorlu Enerji. Within the framework of the Sukuk Issuance Program with a sustainability theme worth 450 million TL, created on behalf of Zorlu Enerji, 50 “We have successfully completed the first issuance of one million TL. We will continue our expert banking by meeting the needs of our customers with pioneering and innovative products.” said.

“We successfully completed the syndicated loan”

Reminding that they completed the syndicated loan, which is an indicator of valuable relations and meaningful collaborations with stakeholders, at the beginning of July, Börü continued his words as follows:

“We signed our syndicated loan at the beginning of July. As a proof of our ongoing strong fund-raising ability and the solid collaborations we have developed with other international financial institutions over the years, there was a high demand for our syndicated loan. The syndicated loan amounting to 150 million dollars, which was realized with the participation of 12 banks from 12 different countries, is a new one for our participants. “We succeeded in adding new products and enriched our geographical distribution. We renewed our loan by 85 percent in line with our needs and sustainability principles and maintained our strong liquidity structure. I would like to thank all our participating institutions once again for their trust in TSKB and our country.”

Source: https://www.aa.com.tr/tr/ekonomi/tskbden-yilin-ilk-yarisinda-322-8-milyon-tl-net-kar/1931542

karaaslannarin

Announcements
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023
06/12/2023