Development and Investment Bank of Türkiye Increases Total Assets by 131% and Loans by 119%

Development and Investment Bank of Türkiye announced its financial results for the third quarter of 2022. During the January–September period, the Bank increased its total assets by 131% year on year and 63% compared with year-end 2021 to TRY 79 billion. Its loan portfolio increased by 47% compared with year-end 2021 and by 119% year on year to TRY 55 billion. The Bank increased its profit by 78% compared with the same period of 2021, recording net profit of TRY 1.2 billion. The ratio of gross non-performing loans to total loans was 1.86%, while the capital adequacy ratio stood at 16.09%.

We Completed Our First Sustainable Eurobond Issuance

Stating that sustainability is at the centre of all the Bank’s activities, TKYB CEO İbrahim Öztop said: “Our Bank, which supports our country’s sustainable development and transition to a low-carbon economy, completed its first sustainable Eurobond issuance. Agence Française de Développement (AFD) invested EUR 100 million in the first sustainable Eurobond issued by our Bank. At least 75% of the proceeds from the 11-year Eurobond issuance will be allocated to financing green projects that contribute to combating climate change in Türkiye, while the remaining portion will be directed to social projects. Under the issuance, our Bank will also benefit from AFD’s technical assistance programme for initiatives aimed at increasing women’s participation in the economy.” Öztop added: “In September, we published Türkiye’s first Impact Report aligned with the Operating Principles for Impact Management. As a result of our strong environmental and social risk-assessment practices, in the ESG risk rating carried out by the internationally recognised rating agency Sustainalytics, we ranked first among all institutions in Türkiye, the Middle East and Africa, and fourth among banks in Europe after the EIB, KfW and EBRD.”

Resources Secured from Abroad Exceed USD 5 Billion

Stating that the Bank’s primary mission is to support investments aligned with Türkiye’s development objectives, TKYB CEO İbrahim Öztop said: “By securing resources from international financial institutions, we support renewable energy and energy-efficiency projects and stand by our SMEs. The resources we have secured from abroad for themes including mitigating the effects of the pandemic, supporting infrastructure investments and manufacturing sectors, and increasing employment have exceeded USD 5 billion. Approximately 40% of these financing facilities were secured during our Bank’s restructuring process over the last four years. With the responsibility of being a trusted institution for stable growth, we will continue increasing our resources.”

Our Investment Banking and Advisory Activities Continue Without Slowing Down

Highlighting the Bank’s strong performance in investment banking and advisory services, Öztop said: “We continue contributing to our country’s development through our advisory and investment banking services. We acted as intermediary for the sukuk (lease certificate) issuance for which the digital agriculture platform Tarfin—operating in the agricultural supply chain and bringing technology together with the agricultural ecosystem—was the fund user and Kalkınma Yatırım Asset Leasing Company was the issuer. This was also Tarfin’s first sukuk issuance. We are also pleased to have acted as intermediary for the highly successful initial public offering of software and technology development company OBASE Bilgisayar and to have contributed to the development of our capital markets.”

The Türkiye Development Fund’s Total Fund Size Exceeds TRY 1.5 Billion

Stating that the Türkiye Development Fund was established by the Bank to transform public resources into equity investments focused on national development and to provide strategic support for regional development, innovation and the entrepreneurship ecosystem, Öztop said: “With KOSGEB also joining the Regional Development Fund and the Technology and Innovation Fund, two sub-funds of the Türkiye Development Fund, as an investor, the fund size managed through five sub-funds reached TRY 1.5 billion. Within the scope of commitments exceeding a total of EUR 10 million to Türkiye’s leading venture-capital funds such as 212, ScaleX, 500, Revo and DCP, we continued supporting Türkiye’s entrepreneurship ecosystem. In August 2022, we invested USD 3 million in Livzym, Türkiye’s first and only domestic industrial-enzyme producer.”