TYKB RAISES ITS TOTAL ASSET SIZE BY 45%

The Development and Investment Bank of Turkey (TYKB) raised its total asset size by 45% to TRY 28.1bn in 2020, compared to the previous year, according to Ibrahim Oztop, Board Member and CEO of TYKB. The net profit of the bank increased by 12% to TRY 502m, while its loan portfolio rose by 35% to TRY 20.4bn in this period, the CEO said. Meanwhile, TYKB’s total financial assets increased by 89% to TRY 6.1bn and its equities rose by 52% to TRY 3.6bn. TYKB aims to provide USD 1.7bn of funds to the businesses by the end of 2021. The bank brought USD 500m into the country from international finance institutions within the scope of the COVID -19 in 2020, according to Oztop. TYKB has recently signed a loan agreement worth USD 250m with the World Bank.