Turkish Economy Bank (TEB) posted a net profit of 11.7 billion liras last year. The bank’s total loans amounted to 209.9 billion liras at the end of the year, while its total deposits amounted to 284.7 billion liras in the same period.
According to the statement made by the bank, TEB’s total assets amounted to 406.9 billion liras as of the end of last year, while its annual net profit amounted to 11.7 billion liras.
TEB’s loans, which are the most important indicator of the support it provides to the economy and its customers, accounted for 52 percent of its total assets. The Bank’s total loans amounted to 209.9 billion liras at the end of the year, while total deposits reached 284.7 billion liras in the same period.
Ensuring steady growth with its strong capital structure last year and maintaining its profitability in a sustainable manner, TEB’s shareholders’ equity amounted to 35 billion liras, while its capital adequacy ratio was realized at 16.82 percent, well above the target ratio of 12 percent.
Having completed 2023 in line with its targets, TEB continues to grow steadily within the framework of its strategy of diversifying its resource structure and increasing its medium and long-term borrowing instruments. In this context, TEB issued USD 400 million worth of bonds in international markets at the beginning of this year. More than 150 international investors showed great interest in the international bond issuance, which attracted a record demand of USD 2.9 billion, more than 7 times the issuance amount.