Turkiye Sinai Kalkinma Bankasi AS
IST:TSKB.E
Turkiye Sinai Kalkinma Bankasi AS
Türkiye Sinai Kalkinma Bankasi AS engages in the provision of corporate, investment and advisory services. The company is headquartered in Istanbul, Istanbul Province. The service range covers corporate lending and project finance, corporate finance, treasury operations, investment services, and capital market intermediary activities and portfolio management. The Bank also provides privatization, M&A, debt and equity issues and asset purchases and sales services and strategic consultancy. Its subsidiaries include TSKB Real Estate Appraisal Company, TSKB Real Estate Investment Company, TSKB Investment Trust, and Yatirim Finansman Securities. In February 2013, the Company sold its 1.43% stake in Is Yatirim Ortakligi AS to Is Yatirim Menkul Degerler AS.
Profitability: TSKB delivered strong results with net income of TRY 3.4 billion for the quarter, up 47% year-on-year and 9% quarter-on-quarter, and a sector-leading return on equity of 31.3%.
Asset Quality: The bank’s NPL ratio fell below 1% to 0.9%, with no new NPL inflow for a fifth consecutive quarter and continued strong collections from previously problematic loans.
Loan Growth: Real FX-adjusted loan growth reached 4.5% in the first half, tracking in line with year-end guidance.
NIM Performance: Net interest margin stayed robust and flat at 5.7% QoQ, already exceeding year-end guidance and benefiting from proactive balance sheet management.
Funding & Liquidity: Three new DFI loan agreements worth about $305 million were signed, supporting a strong funding and liquidity position.
Fee & Commission Income: Fee and commission income contracted 45% YoY, with muted corporate finance activity and a high base effect from last year.
Cost Dynamics: Operating expenses rose nearly 60% YoY, partly due to 75th anniversary and HR-related one-offs, with cost-to-income ratio remaining low at 16.2%.
Sustainability: The bank continued to advance its sustainability strategy, with SDG-linked loans accounting for 93% of the portfolio and significant progress toward climate and recovery targets.
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