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We're growing in our principal business line
As defined in our mission statement, our primary function is to supply long-term
and suitably-priced resources for investments that will contribute to economic
growth and development and to support our country's entrepreneurs and businesses.
In 2006 our bank continued to expand its activities in this direction and it
took part in a large number of corporate financing and other projects on a
variety of scales undertaken in our country. The total volume of TSKB's lending
in all categories (including financial leasing) in 2006 amounted to USD 631
million. This represents a 29% year-on rise on a USD basis and is also the
largest amount of credit extended by the bank in a single year in its history.
Paralleling this, our bank also took part either as a leader or as a major
partner in the provision of cash and non-cash credit needed to finance privatizations
and company acquisitions carried out in Turkey in 2006. In its conduct of these
activities, TSKB provided support to a large number of projects in different
sectors ranging from energy to transportation and from telecommunications to
cement.
In 2006 our bank continued to be one of the most
preferred providers of information-based, high value-added
consultancy and valuation services. In addition to
our national customers, these services were also preferred by
foreign corporate groups and banks that were interested
in
investing in Turkey, who regard TSKB as an institution
whose knowledge and insights are to be respected
and trusted when entering Turkey.
We've gained a presence in Izmir and Ankara
In 2006 TSKB opened two branches, one in Ankara and
one in Izmir. The mission of these two branches,
all of whose operational activities are to be conducted
from headquarters, is to make the bank's corporate
marketing more effective by being closer to investors
in Ankara and Izmir and also to expand the reach
and scope of our real estate valuation services through
our subsidiary TSKB Gayrimenkul Degerleme. After
being set up and staffed, these two branches have
immediately begun intensive credit marketing activities
and undertaken important duties in gaining new customers
for the bank.
In the years ahead, TSKB will consider establishing
a presence for itself in other parts of the country
in light of developments in the Turkish economy and
the needs of different sectors.
Formation of TSKB GYO
TSKB GYO is a real estate investment trust that our
bank set up in 2006 to make more effective use of
the knowledge and experience that it has gained in
the real estate sector over the years.
We regard real estate as a line of business that has
a tremendous future.
TSKB GYO complements our other subsidiary TSKB Gayrimenkul
Degerleme, a real estate appraisal company, that we
set up a few years ago. With the formation of TSKB
GYO, we have completed the structure needed to carry
out our strategy in the real estate business. Our objective
is to take advantage of attractive business opportunities
in the real estate sector by putting together a balanced
portfolio of productive and liquid real estate properties
that will generate high returns. At the same time,
we also foresee that by resolving the project finance
needs of the real estate sector within TSKB we will
also be able to create synergetic business volumes
and contribute to the bank's own income base.
Halil Eroğlu
CEO, President
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