Development and Investment Bank of Türkiye’s Total Assets Reach TRY 135 Billion
Development and Investment Bank of Türkiye increased its total assets by 47.2% to TRY 135 billion as of year-end 2023. The Bank continued its sustainable growth by reporting net profit of TRY 4 billion for the year.
Development and Investment Bank of Türkiye disclosed its 2023 financial results on the Public Disclosure Platform (KAP). In 2023, the Bank increased its total assets by 47.2% year on year to TRY 135 billion. Its loan portfolio increased by 39.5% compared with the previous year to TRY 84.2 billion, while profitability rose by 139% year on year to TRY 4 billion. The Bank increased its equity to TRY 11 billion in 2023, while its average return on equity at year-end stood at 45.7% and its capital adequacy ratio at 16.9%.
We Continue Our Work Towards Becoming Türkiye’s Climate Bank
Stating that the Bank continued its activities in Türkiye’s sustainable-growth journey, TKYB CEO İbrahim Öztop said: “For Development and Investment Bank of Türkiye, 2023 was a year not only of financial achievements but also of major advances in development finance. We continue taking firm steps towards becoming ‘Türkiye’s Climate Bank’. By deepening our cooperation with major international financial institutions such as the World Bank and the Asian Infrastructure Investment Bank, we contributed to our inclusive and sustainable development objectives. This year, we signed a EUR 100 million ‘Climate Finance’ loan and EUR 10 million grant agreement with the German development bank KfW; a loan agreement with the Black Sea Trade and Development Bank for SMEs in the earthquake-affected region; a USD 200 million ‘Green 4’ loan agreement with the Japan Bank for International Cooperation (JBIC) for renewable energy and energy efficiency; a USD 100 million financing agreement with the Islamic Development Bank for food-security investments; and a term sheet with the International Islamic Trade Finance Corporation (ITFC) for a USD 100 million financing agreement. The effectiveness of our Bank in development finance has reached a stronger level, with a large portion of the loans we provide having been secured over the past five years. In 2023, we also significantly increased our profitability.”
We Play an Important Role in the Entrepreneurship Ecosystem
Stating that the Bank delivered a highly successful performance in 2023 through the Türkiye Development Fund (TKF), established by Development and Investment Bank of Türkiye in 2019, Öztop said: “We made a total of 14 direct investments, comprising 13 new investments and one follow-on investment. In 2023, in cooperation with TÜBİTAK, we also established the TÜBİTAK BiGG Fund as our seventh sub-fund, with an initial closing size of USD 8 million, and increased assets under management to TRY 2.2 billion. With the investments made in 2023, the Türkiye Development Fund’s direct investments in the entrepreneurship ecosystem increased by 167% compared with 2022 to TRY 300 million.”
Our Achievements Are Crowned with Awards
Stating that the Bank took important steps in 2023, Öztop said: “At the Global Sustainable Finance Awards 2023 organised by the European Organisation for Sustainable Development (EOSD), we received the ‘Green Technological Transformation’ award; at the 8th TSPB Golden Bull Awards organised by the Turkish Capital Markets Association, we received the ‘Highest Issuance’ award in the Equity Issuance Intermediation category. We obtained Great Place To Work Certification and, by entering the Türkiye’s Best Employers list, won the ‘Türkiye’s Best Employer’ award. These awards demonstrate that our Bank’s sustainability-focused approach and perspective on human capital have been recognised nationally and internationally.”