Development and Investment Bank of Türkiye Wins Bonds & Loans Structured Bond of the Year Award for Its Asset-Backed Securities Issuance
Combining 45 years of development banking experience with investment banking and continuing its work for Türkiye’s sustainable development and growth, Development and Investment Bank of Türkiye won awards in two categories at the 2020 Bonds & Loans Awards for Türkiye’s largest asset-backed securities issuance, carried out under the leadership of the Ministry of Treasury and Finance.
At the sixth Türkiye Bonds & Loans Awards—regarded as one of the most prestigious awards in the Turkish capital markets and financial sector—Development and Investment Bank of Türkiye won first place in the “Structured Bond” category and third place in the “Local Currency Bond” category for the asset-backed securities issuances it completed in 2018 and 2019.
Continuing its efforts to become an active player in developing innovative capital-markets products, deepening capital markets and broadening the investor base, the Bank established an Asset Finance Fund to intermediate securitisation transactions. Through this structure, it completed asset-backed securities issuances totalling TRY 4.15 billion, the first in December 2018 and the second in the first quarter of 2019.
Commenting on the achievement, TKYB CEO İbrahim Öztop said: “Receiving a Bonds & Loans award for the mortgage-covered bond-based asset-backed securities issuance completed for the first time in Türkiye by our Bank demonstrates that our work is also appreciated by the sector. Asset-backed securities issuances had previously taken place in the market, albeit in smaller amounts. The distinctive feature of our product is that the underlying assets in the asset-backed securities pool consist of mortgage-covered bonds issued by the originating banks. In this product, the pool transferred to the asset finance fund contains mortgage-covered bonds issued by banks. Our Bank, whose majority shares are owned by the Republic of Türkiye Ministry of Treasury and Finance, will continue playing an active role in all areas of investment banking and supporting the real sector with high-quality financial products.”
About Development and Investment Bank of Türkiye
Since 1975, Development and Investment Bank of Türkiye has supported development initiatives in every area needed by Türkiye. Drawing on its strong international standing and the resources it secures, it supports competitive and efficient production for a stable and robust economy. In line with the 2023 objectives, guided by the 11th Development Plan and the United Nations Sustainable Development Goals, the Bank focuses on financing sustainable development. With experienced and specialised human resources possessing command of global banking standards, a dynamic structure, and innovative products and services, it will continue to stand by investors.