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TSKB Disclosed Its First Half Financial Results

August 6, 2014



ENP Newswire - 06 August 2014

Release date- 05082014 - Industrial Development Bank of Turkey (TSKB) announced its first half financial results.

According to the statement released by the bank, size of assets of TSKB reached TRY 13.9 billion and total size of loans reached TRY 9.7 billion by the first half of 2014. TSKB's CEO Ozcan Turkakin said 'We go on marking a steady growth with our strong and sound capital structure. The financial results we achieved in the first half of the year indicate that we have been decisively carrying on our operations in line with our targets.'

Industrial Development Bank of Turkey (TSKB) disclosed 30 June 2014 dated financial results. TSKB's total loan book reached TRY 9.7 billion, surging up by 5.3% in the first six months of the year.

Maintaining its robust asset quality, TSKB expanded its assets with an annual growth of 22.8% to TRY 13.9 billion.

Having enhanced its strong capital structure to TRY 2.1 billion with 11% increase since the beginning of the year, TSKB delivered an average return on equity ratio of 20% and average return on assets ratio of 3%.

While Bank's net interest income in the first half of the year reached TRY 278.6 million with an annual rise of 22%, the total operating profit of TSKB was recorded as TRY 347.3 million with an increase of 27.6%.

TSKB's bank-only profit before tax reads as TRY 248.7 million, exceeding previous year's figure, and its net profit as TRY 198.6 million, with an upsurge of 12.4%.

Stating that TSKB presents successful performance in the first half of 2014, CEO of TSKB Ozcan Turkakin said, 'We continue to show consistent growth with our robust capital structure. The developments which took place in the second half of the year prove that we have taken determined steps.'

Turkakin who also made remarks about TSKB's targets for the second half of 2014 stated, 'We will continue to support private sector investments and projects particularly in the fields of energy efficiency, renewable energy, infrastructure, logistics and sustainable tourism, in line with our sustainable banking approach. We successfully closed two bond issuances in the first half of the year. Moreover, we aim to strengthen our presence in the field of investment banking by offering services related with strategic consultancy, advisory for privatization projects, mergers&acquisitions and asset purchases-sales.'


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Source: ENP Newswire


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