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Development and Investment Bank of Türkiye Increases Total Assets by 47%

Development and Investment Bank of Türkiye Increases Total Assets by 47%

May 11, 2021

Continuing its growth in the first quarter of 2021, Development and Investment Bank of Türkiye increased its total assets by 47% year on year to TRY 30.7 billion. The Bank increased its net profit by 119% year on year to approximately TRY 198 million and expanded its loan portfolio by 13% compared with year-end 2020 to TRY 23 billion.

Development and Investment Bank of Türkiye Increases Total Assets by 47%

Development and Investment Bank of Türkiye announced its financial results for the first quarter of 2021. The Bank increased its total assets by 47% year on year to TRY 30.7 billion and increased its net profit to approximately TRY 198 million.

As of the end of March 2021, the Bank’s loans—which accounted for 75% of total assets—reached TRY 23 billion, while the loan portfolio increased by 13% compared with year-end 2020 and by 41% year on year. The Bank’s gross non-performing loan ratio remained below 1%, while the capital adequacy ratio rose above the sector average to 21% in the first quarter. The Bank increased its equity to TRY 3.8 billion in the first quarter of 2021.

Our Growth Vision Continues in Line with Türkiye’s Development Objectives

Stating that the Bank continued working without slowing down to mitigate the adverse effects of the pandemic on the economy and ensure sustainable growth, TKYB CEO İbrahim Öztop said: “In the past year, our Bank created added value for the national economy through the technical and financial support it provided to investments in line with Türkiye’s development objectives and continued contributing to the growth of our economy in the first quarter of this year. We stand by domestic and climate-friendly projects, particularly in the energy sector, and continue supporting energy and energy-efficiency projects. To maintain our support for these projects, we signed a USD 170 million ‘Green’-themed loan agreement with the Japan Bank for International Cooperation (JBIC).”

Stating that the Bank assumes an important role through the advisory services it offers in investment banking, İbrahim Öztop said: “In Investment Banking, we provide financial advisory, capital-markets advisory and mergers and acquisitions advisory services to both private-sector and public institutions. With our responsible banking approach, we acted as intermediary for Türkiye’s first TRY 200 million transition-bond issuance for a low-carbon economy. We continue providing financial advisory services to the Privatisation Administration for the privatisation of certain power plants owned by EÜAŞ and selected publicly owned ports and marinas. We continue our mergers and acquisitions, capital-markets and financial advisory services across numerous sectors without slowing down and facilitate public- and private-sector enterprises’ access to alternative financing products and funds. As of March 15, 2021, our subsidiary Kalkınma Venture Capital Portfolio Management Company received an operating licence from the Capital Markets Board, and management of the Regional Development Fund and the Technology and Innovation Fund, sub-funds of the Türkiye Development Fund, was transferred to the portfolio management company. In the coming periods, we will continue supporting our country’s economy through our development banking, investment banking and Türkiye Development Fund activities.”