Development and Investment Bank of Türkiye Increases Total Assets by 35%

The strong growth momentum of Development and Investment Bank of Türkiye, which continues to carry out its development and investment banking functions competitively and dynamically in line with Türkiye’s development priorities, did not slow down in the third quarter of 2020. According to the third-quarter financial results announced by the Bank, total assets increased by approximately 34% year on year, while operating income rose by 4.9%. Loans, which accounted for 79% of the Bank’s total assets, increased by 33% compared with the same period of the previous year during the first nine months of 2020, reaching TRY 19.6 billion. Development and Investment Bank of Türkiye reported third-quarter profit of TRY 336 million, while its capital adequacy ratio stood at 20.2% as of September.

Supporting the policies implemented by the economic administration to eliminate the effects of the pandemic on the economy and taking an active role during the gradual normalisation period, Development and Investment Bank of Türkiye recorded a gross non-performing loan ratio of 0.54% in the third quarter of 2020, representing a change of 0.27 percentage points compared with the same period of the previous year.

Full Support for Sustainable Development During the Normalisation Period

Stating that the Bank accelerated its activities for sustainable development and mitigating the economic effects of the pandemic from the second quarter, when the effects of the coronavirus pandemic were felt, TKYB CEO İbrahim Öztop said: “Within the framework of the comprehensive and supportive fiscal policies implemented by the economic administration to eliminate the adverse effects of the pandemic, and the measures taken by the Central Bank to maintain the healthy functioning of financial markets, the credit channel and companies’ cash flows, we are aware of the responsibility falling on us as a Bank. During the third quarter, international resources secured from development finance institutions continued to be of great importance in increasing our country’s production potential and balancing the effects of the coronavirus pandemic on economic activity and employment.”

Stating that the resources brought into the economy by the Bank during this period provided a lifeline to production companies, İbrahim Öztop said: “Our Bank continued supporting the economy in the third quarter. Through the TRY 18 billion Investment Support Turkish Lira Loan funded by the Central Bank of the Republic of Türkiye, with maturities of up to 10 years, we began supporting manufacturing companies operating in sectors prioritised in the New Economy Programme on favourable terms. In addition, to balance the effects of the coronavirus pandemic on economic activity and employment, following the USD 300 million Covid-19 loan secured from the Asian Infrastructure Investment Bank in August, we signed a USD 250 million loan agreement with the World Bank. Through these loans, we will support SMEs, the backbone of our economy.

“Our Bank, which contributes to sustainable growth through the loan support it provides for investments in line with Türkiye’s development objectives, will continue supporting the national economy by using its capital in the most efficient manner through its responsible banking approach and focus on sustainable development.”