History of TSKB

  • 1950’s
  • 1960’s
  • 1970’s
  • 1980’s
  • 1990’s
  • 2000’s
  • 2010’s

Medium- and long-term financing for private-sector projects

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

  • Project technical consultancy services
  • Medium- and long-term financing for private-sector projects
  • Realizing a preliminary survey and pioneering in the foundation of capital markets,
  • The only organization able to provide export loans in foreign currency in a period when the lack of foreign currency in the country was at its highest,
  • The only organization mediating in the cash sale of the foreign currency released from Marshall relief fund.

Public offerings of TSKB investment portfolio bonds that are close to maturity

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-guaranteed corporate bond issues
  • Public offerings of TSKB investment portfolio bonds that are close to maturity
  • Independent auditing of TSKB’s annual balance sheets
  • TSKB became the first participation of IFC in Türkiye,
  • Loan support to the manufacturing of first Turkish bus, first Turkish automobile, automobile tire, LPG cylinder, and high voltage cables,
  • First Turkish music record, first movie sector loan, first encyclopedia,
  • First Turkish battery, first cola drink, toilet paper, pencil, carton, plastic, and acrylic fiber.

Detailed sectoral research in manufacturing and service business lines

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

  • Incentives for private-sector investments in less-developed regions
  • Medium-term syndicated loans tap European credit markets
  • Detailed sectoral research in manufacturing and service business lines
  • First long term bond issue,

First company stock issued with an outright guarantee

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

  • Short-term econometric model created for the Turkish economy
  • Cash-flow model created for the Turkish financial industry
  • Risk-hedged FX investment financing credit
  • TSKB bonds issued on international capital markets
  • Manufacturer surveys conducted in a variety sectors
  • Export credit insurance secured from European and Japanese financial institutions
  • Collaboration with international experts to provide consultancy services in the textiles and other industries
  • State-owned cement plant privatization project consultancy
  • Short-term TSKB bond issued; TSKB-guaranteed customer bonds marketed
  • Türkiye’s first privatization master plan
  • First company stock issued with an outright guarantee
  • Islamic Development Bank credit agreement
  • Bank bonds and bank guaranteed bonds operations,
  • Econometric model survey for Turkish Economy (TEM),
  • First dental prosthesis in Türkiye, first modern packaging, first double-blade shaver, first sneakers manufactured with modern methods, first advanced technology journalism, and first Turkish encyclopedia,
  • Loan support for the first application of modern greenhouse floriculture.

Management the European Investment Bank’s Risk Capital Fund

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

  • Long-term forex and swap agreements with international banks
  • Fixed and floating interest rate medium-term Turkish lira loans to banks
  • Consultancy services for EBRD in Uzbekistan
  • Management the European Investment Bank’s Risk Capital Fund
  • Voluntary participation in the World Bank-supported “Risk Management Study”

First and only Turkish bank to be declared the Eastern European regional winner of the “Sustainable Emerging Markets Bank of the Year

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

  • “Healthier Environment” credit limits provided
  • First bank-owned, SPK-licensed property valuation company set up
  • Secretariat services provided for the “Istanbul Approach”
  • Risk-based credit pricing model
  • First Turkish bank to secure a loan from the French Development Agency (AFD)
  • First and only Turkish bank to be a shareholder of European Investment Fund
  • First Turkish-owned bank to receive ISO 14001 Environmental Management System certification
  • First Turkish bank to measure and neutralize its carbon footprint
  • First and only Turkish bank to be declared the Eastern European regional winner of the “Sustainable Emerging Markets Bank of the Year” award by The Financial Times and the IFC (2008, 2009, 2010)

First and only Turkish bank to be declared the Eastern European regional winner of the “Sustainable Emerging Markets Bank of the Year

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

  • First Turkish bank to publish a GRI-approved sustainability report
  • UNEP FI and Global Compact memberships
  • First and only Turkish bank to join the European Long-Term Investors Association
  • Sixteen thematic funds launched (2009-2012)
  • First EBRD loan to finance SMEs’ agroindustrial projects in Türkiye
  • First Turkish bank to qualify for ISO 14064-1 Greenhouse Gas Verification certification
  • Restricted mudaraba agreement with the Islamic Development Bank to finance renewable energy and energy efficiency projects
  • Founding member of the International Development Finance Club
  • First long-term funding agreement with the KfW-German Development Bank without a Turkish Treasury guarantee
  • Turkish banking industry’s first GRI A+ compliant sustainability report

Türkiye Sınai Kalkınma BankasıTurkey’s comprehensive environmental portal cevreciyiz.com is supported by TSKB.