MILESTONES OF SUSTAINABLE BANKING IN TSKB SINCE 1950

Turkey's first privately-owned investment and development bank TSKB was founded with the support of World Bank and the Central Bank of the Republic of Turkey.

In the years immediately after it was founded, TSKB undertook important duties in line with its mission as an investment and development bank such as securing medium and long-term credit for private-sector projects, providing technical support to project sponsors, and conducting preliminary studies for and then spearheading and initiating the formation of capital markets in Turkey.

During the same period, TSKB was the only bank capable of supplying the foreign currency credit needed to finance imports of capital goods and it was also the only organization handling cash sales of foreign currencies released under the Marshall Plan.

In the 1960’s, TSKB issued, underwrote and guaranteed company bonds and carried out its first initial public offerings of shares from its own portfolio of holdings. The Bank became the first company in Turkey to be audited by an internationally recognized independent auditor during the same period.

As a Turkish equity stake of IFC, a member of the World Bank Group, TSKB undertook important roles in the country's industrialization, and provided 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, cardboards, plastics, and acrylic fibers.

In the 1970’s, TSKB played a key role in encouraging private-sector investment in Turkey's developing regions. During this period, the Bank carried out the first issuance of its own long-term bonds while also tapping into the European credit market with its first medium-term syndications.

In the same years, TSKB has achieved another ‘first’ by starting to offer comprehensive research services for the manufacturing and service sectors as well.

In the 1980’s, TSKB continued to provide funding and resources to the private sector within the context of investment and development banking.

During the same period, the Bank embarked on highly important ventures in its international relations. TSKB successfully issued a series of “Samurai bonds” in Japan. Through the process of diversifying its relations with European and Japanese financial institutions and the Bank secured new sources of funding.

TSKB took active role in Turkey's Privatization Master Plan and served as a consultant for the privatization of the country's state-owned cement plants.

In the 1990s, TSKB strengthened its effectiveness in the investment banking business in Turkey.

At the same time the Bank also continued to develop and diversify its cooperation with international banks as well. Long-term foreign currency and interest rate swap agreements were signed with international financial institutions. The Bank served as a consultant for the European Bank for the Reconstruction and Development (EBRD) in Uzbekistan, undertook the management of the Risk Capital Fund set up by the European Investment Bank, and voluntarily took part in the “Risk Management Learning” program supported by the World Bank.

1990’s was a period of successful initial public offerings of TSKB. Leading the establishment of over the counter bond and capital stock markets, the Bank has become more effective with the establishment of IMKB (Istanbul Stock Exchange) and maintained its leading position in these markets. Through its transactions in IMKB, TSKB played an important role in restructuring the profile of public companies in 1960's and 1970’s and undersigned various transactions including the public offering of Türkiye İş Bankası in 1990’s.

The journey of TSKB through sustainable banking continuously accelerates in 2000’s...

  • Seeking to enhance its visibility and reputation in the international arena, TSKB tapped into the international syndication and murabbaha markets for the first time.
  • In a world where protecting the environment had been a primary issue, TSKB started its first lending activities that incorporated environment-aware criteria.
  • TSKB served as the secretariat bank in the “Istanbul Approach” debt restructuring process that emerged from the Turkish banking sector crisis in the beginning of 2000’s.
  • In addition to lending directly to firms, the Bank also began providing indirect funding through commercial banks and leasing companies within the context of its “APEX banking” operations.
  • TSKB has become the first bank to establish a real estate investment appraisal company approved by the Capital Markets Board of Turkey (SPK) according to the newly-enacted legislation in 2000’s.


Regarded as a leading and exemplary implementer of corporate governance and social responsibility policies in Turkey, TSKB will continue to serve as a strong and experienced solution provider for the small, medium and large sized companies in Turkey.