BankingBrief
TSKB's nine-month net income falls 8 per cent to TL 8.5 billion
Türkiye's development and investment bank kept its year-end guidance while swap costs rose 85 per cent and its free provision stock ran out.
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Türkiye Sınai Kalkınma Bankası (TSKB) earned TL 8.51 billion in bank-only net income in the first nine months of 2026, down 8 per cent from TL 9.29 billion a year earlier, the bank said in results it filed on 28 October.
The bank's earnings presentation puts third-quarter net income at TL 2.70 billion, 8.7 per cent below the second quarter's TL 2.95 billion. Net interest income including swap costs rose 1 per cent to TL 10.83 billion in nine months, while swap costs rose 85 per cent to TL 3.22 billion. Net fees and commissions rose 74 per cent to TL 525 million, operating expenses rose 44 per cent to TL 3.50 billion and expected credit loss provisions fell 9 per cent to TL 1.55 billion. Income from subsidiaries rose 21 per cent to TL 2.22 billion.
Total assets reached TL 398.5 billion at the end of September, from TL 369.5 billion at the end of June and TL 346.4 billion at the end of March, and gross loans rose to TL 283.9 billion from TL 270.1 billion in the quarter. The presentation gives a return on equity of 22.3 per cent, a net interest margin of 4.3 per cent, a capital adequacy ratio of 19.4 per cent, a Tier 1 ratio of 18.3 per cent and a non-performing loan ratio of 2.0 per cent. It reports reversals from free provisions of TL 1.1 billion in nine months and says the free provision stock was fully released during the year.
The bank kept every year-end target and marked each as on track: foreign-currency-adjusted loan growth in the low teens against 8.1 per cent so far, a margin of about 4.5 per cent and a return on equity of about 25 per cent. It said funding agreements of USD 1.1 billion had been signed in the nine months, with total funding secured above USD 1.8 billion, including Eurobond, syndication and private placements. Foreks reported that, excluding income from subsidiaries, quarterly net income rose 3 per cent.
After the quarter ended, the central bank made its cut to 36 per cent; the Garanti BBVA results show the same period at a large private lender.