History of TSKB

Set up with the mission of supporting the development of the Turkish private sector, TSKB undertook critically important duties in the areas of development and investment banking such as procuring medium- and long-term credit for individual projects, providing technical support to project sponsors, and conducting preliminary studies for and then spearheading and initiating the formation of a capital market in Türkiye. During the same decade, TSKB was the only bank capable of supplying the foreign currency credit needed to finance imports and it was also the only organization handling cash sales of foreign currencies released under the Marshal Plan.

TSKB Firsts & Innovations of the 1950's

TSKB issued, underwrote, and guaranteed company bonds and also carried out its first initial public offerings of shares from its own portfolio of holdings. The bank was the first company in Türkiye to be audited by an internationally recognized independent auditor. TSKB undertook important roles in Türkiye’s industrialization by providing credit support for a wide range of manufacturing activities such as the first Turkish-made buses and automobiles, automobile tires, LPG cylinders, high-voltage cables, batteries, cardboard, plastics, and acrylic fibers.

TSKB Firsts & Innovations of the 1960's

TSKB played a role in encouraging private-sector investment in Türkiye’s less-developed regions.

During this decade, the bank carried out the first issue of its own long-term bonds while also tapping the European credit market with its first medium-term syndications. TSKB became the author of yet another first by introducing comprehensive research services for the manufacturing and services sectors.

TSKB Firsts & Innovations of the 1970's

TSKB continued to provide funding and resources to the private sector as a development and investment bank with no loss of momentum. This decade was marked by major developments in the bank’s international relations: TSKB successfully issued a series of “Samurai bonds” in Japan and secured new sources of funding by diversifying its relationships with European and Japanese financial institutions. TSKB took part in Türkiye’s Privatization Master Plan and served as a consultant for the privatization of the country’s state-owned cement plants.

TSKB Firsts & Innovations of the 1980's

TSKB’s effectiveness in the business of investment banking continued to grow while its collaboration with international banks continued to expand and diversify. Long-term foreign currency and interest rate swap agreements were signed with international financial institutions. TSKB served as a consultant for the European Bank for Reconstruction and Development (EBRD) in Uzbekistan. During this decade the bank underwrote a number of successful public offerings and spearheaded the establishment of Türkiye’s over-the-counter bond and stock markets. With the launch of the İstanbul Stock Exchange, the bank further increased its influence in this business line and remained a leading player in capital markets.

TSKB Firsts & Innovations of the 1990's

TSKB’s move toward sustainable banking gained momentum. Seeking to enhance its visibility and reputation in the international arena, TSKB tapped international syndication and murabaha markets for the first time. In a world in which protecting the environment had become a prime issue, TSKB launched its first lending activities that incorporated environment-aware criteria. Besides lending directly to firms, the bank also began indirectly funding increasingly more SMEs as an apex bank working through commercial banks and leasing companies.

TSKB was the first Turkish bank to set up an environment management system certified as conforming to the ISO 14001 standard. It won top honors in the “Sustainable Banking Awards” program conducted jointly by the Financial Times and the International Finance Corporation three years in a row. TSKB became Türkiye’s first carbon-neutral bank. As a member of the United Nations Environment Programme Finance Initiative, it joined the ranks of sustainable-development-minded international organizations. The bank became a signatory to the United Nations Global Compact.

TSKB Firsts & Innovations of the 2000's

TSKB provided substantial amounts of financing for renewable energy projects in support of the transition to a low-carbon economy. As of end-2014, the number of such projects had reached over 100. TSKB also identified energy efficiency projects as qualifying for credit financing. As of end-2014, financing had been provided to 57 projects in energy-intensive sectors. Through such efforts the bank contributes to the national economy while also helping Türkiye move closer to its low-carbon economy goal.

The global financial crisis of the 2010s wrought many changes in capital markets. While product diversity increased rapidly, record-breaking cuts in interest rates all over the world powered a search for new investment options. An ambitious and experienced product and service architect, TSKB designed a plentiful array of alternative investment opportunities such as capital-protected and guaranteed products that appealed to domestic and international investors.

TSKB continues to play an active role in Türkiye’s electricity distribution privatizations, in asset purchase & sale consulting, in acquisition financing, in bond issues, and in public offerings. In 2013 the bank identified sustainable tourism projects as qualifying for credit financing. The same year TSKB became the first Turkish financial institution to secure long-term funding from the KfW without the need for a Turkish Treasury guarantee.

TSKB Firsts & Innovations of the 2010s