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Development and Investment Bank of Türkiye Increases Total Assets by 72%

Development and Investment Bank of Türkiye Increases Total Assets by 72%

February 9, 2022

As of year-end 2021, Development and Investment Bank of Türkiye increased its total assets by 72% to TRY 48.4 billion and its loans by 84% to TRY 37.5 billion. The Bank’s net profit for 2021 was TRY 814 million.

Advancing rapidly in bringing alternative financing instruments to Türkiye for sustainable development, Development and Investment Bank of Türkiye diversified its products in the Turkish capital markets during the year and brought new resources into the economy by contributing to the deepening of capital markets.

Development and Investment Bank of Türkiye Increases Total Assets by 72%

Development and Investment Bank of Türkiye disclosed its 2021 financial results on the Public Disclosure Platform (KAP). In 2021, the Bank increased its total assets by 72% year on year to TRY 48.4 billion and its loan portfolio by 84% to TRY 37.5 billion. Net profit at year-end stood at TRY 814 million.

The Bank increased its equity to TRY 4.5 billion in 2021, while its average return on equity stood at approximately 20% at year-end.

We Achieved Major Success by Providing Financing Support to Development-Priority Sectors

Stating that the Bank continued taking strong steps throughout the year with the objective of adding value to the Turkish economy, TKYB CEO İbrahim Öztop said: “With increasing vaccination rates in the fight against the pandemic, 2021 became a year of recovery, and we can say that economic improvement occurred both globally and nationally. In 2021, as a Bank, we continued standing by our investors by providing financing support for investments in development-priority sectors and supporting the real sector, production and employment through our products and services. In a year in which we increased our resource mobilisation and expanded our loan portfolio, we also succeeded in improving our operating profitability. We worked on capital-market instruments that enable our businesses to obtain financing from capital markets. In 2022, we will continue increasing the added value we provide for our country’s sustainable and inclusive development.”

We Continued Securing International Resources Without Slowing Down

Stating that the Bank continued securing resources for Türkiye from international financial institutions in 2021, Öztop said: “In addition to the USD 200 million loan signed with the Asian Infrastructure Investment Bank in 2019, in 2021 we brought a further USD 100 million loan into our country and began using these resources to finance renewable energy and energy-efficiency projects. We also began financing investments in this field through a USD 150 million loan secured from the World Bank to support private-sector investment in developing our country’s installed geothermal energy capacity.”

We Launched an EUR 80 Million Grant Programme to Increase Formal Employment

Stating that the Bank brought a EUR 316 million loan into Türkiye in 2020 to increase formal employment, Öztop said: “In 2021, we brought an EUR 80 million grant into our country, financed by the European Union under the Facility for Refugees in Türkiye (FRIT) and secured under World Bank administration. SMEs and businesses wishing to benefit from the Formal Employment Creation Project will be able to receive grants ranging from EUR 15,000 to EUR 300,000, depending on their size.”

We Participated in Numerous Important Investment Banking Projects in a Short Period

Development and Investment Bank of Türkiye also took part in major investment banking projects. The Bank continued providing financial advisory services to the Republic of Türkiye Ministry of Treasury and Finance Privatisation Administration for the privatisation of certain predominantly hydroelectric power plants owned by Electricity Generation Corporation (EÜAŞ), as well as selected publicly owned ports and marinas within the scope of privatisation. Development and Investment Bank of Türkiye also acted as consortium leader in two initial public offerings during 2021 and accelerated its work on developing new products while supporting the development of Türkiye’s capital markets.

Environmental and Social Risk Assessment for All Loans

Stating that, with a responsible banking approach, the Bank conducts environmental and social risk assessments as part of its routine decision-making processes for all lending activities regardless of financing size, Öztop said: “We became the first institution in Türkiye to sign the Operating Principles for Impact Management. As a Bank, we also serve as a founding member of the Impact Investing Advisory Board, which aims to develop the impact-investing model in Türkiye and establish a well-functioning impact-investing ecosystem.” Öztop added that, in addition to the Technology and Innovation Fund and the Regional Development Fund, the assets under management had reached TRY 1.35 billion with three new venture-capital funds established by the Bank, and that these funds supported both technology-based ventures and mid-sized companies through equity investments.