Türk Eximbank’s total assets reached TL 608 billion (USD 20.7 billion) as of 31 December 2023.

Assets

Türk Eximbank’s assets are composed of credits by 85%, liquid assets by 5%, and financial assets measured at amortized cost by 3% and, derivative financial assets and other assets by 7%.

The Bank’s loan portfolio reached TL 517.1 billion, up by 69% in the twelve months to end-December 2023.

Of the total credits, 61.1% (TL 316.1 billion) are short-term credits and 38.8% (TL 200.4 billion) are medium- and long-term credits.

Although a substantial portion of the Bank’s funds are channeled to the exports industry in the form of credits, the ratio of non-performing loans (NPL) (TL 0.6 billion) to total loans is well below the sector’s average and stands at 0.1%.

Through effective risk assessment methods pursued, Türk Eximbank works arduously to timely and fully collect its credits. 

Liabilities

Türk Eximbank’s total liabilities were worth TL 608 billion. Of these, 7% (TL 42 billion) consisted of shareholders’ equity, 92% (TL 558 billion) of external funds, and 1% (TL 8 billion) of provisions and other liabilities.

Out of the Bank’s shareholders’ equity of TL 42 billion, 48.5% (TL 21 billion) pertains to paid-in capital, 25% (TL 10.5 billion) to capital and profit reserves, and 26.5% (TL 11 billion) to net profit for the period.

TL 555.5 billion of foreign resources used for funding the Bank’s assets consisted of TL 279.4 billion in credits sourced by the CBRT, TL 166.4 billion in credits provided from domestic and foreign banks and borrowings from money markets, TL 100.7 billion in marketable securities issued, and TL 9 billion in subordinated loans.

At the Ordinary General Assembly convened on 21 July 2023, the authorized capital was increased to TL 50 billion. The Bank’s paid-in capital is TL 20.6 billion as of 31 December 2023.

Solvency

The ratio of Türk Eximbank’s liquid assets including short term loans to short-term liabilities was registered as 96.0% as of 31 December 2023.

Profit & Loss Statement and Profitability

The credit-weighted composition of Türk Eximbank’s balance sheet bears effects also on income. The Bank's total interest income is TL 48 billion, of which 91% (TL 43.6 billion) is interest received from loans.

On the other hand, the Bank’s interest expense was TL 36.6 billion since the Bank secures funds by way of borrowing from domestic and international money and capital markets and through bond issuances. Of this amount, 82% (TL 29.8 billion) was interest paid on borrowings from domestic and international markets, and 16% (TL 6 billion) was interest paid on marketable securities.

The Bank booked a net profit of TL 11 billion for the period ended as of 31 December 2023. Therefore, the Bank registered return on assets and return on equity ratios of 2.40% and 46.24%, respectively.