Türkiye Sınai Kalkınma Bankası
A Turkish investment and development bank focused on long-term private-sector finance, project lending, and sustainable finance.
Last updated October 30, 2026
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Overview
Türkiye Sınai Kalkınma Bankası, commonly known as TSKB and translated as the Industrial Development Bank of Turkey, is a Turkish investment and development bank headquartered in Istanbul. Established in 1950, it was Turkey’s first privately owned investment bank and was created through cooperation between the World Bank and the Turkish government. Its original mandate was to help develop the private sector during a period when Turkey faced severe foreign-exchange constraints, limited industrial capacity, and a need for long-term investment capital. In its early years, TSKB occupied a distinctive position in the Turkish financial system. It provided medium- and long-term foreign-currency loans for industrial projects and import financing, while also helping channel foreign exchange associated with postwar reconstruction and the Marshall Plan. Unlike a conventional retail bank, its principal role was to evaluate, finance, and support productive investment. The bank also supplied technical and financial advice to companies and project sponsors, helping establish development banking practices in Turkey. During the 1960s and 1970s, TSKB financed projects connected with Turkey’s industrialisation, including ventures involving buses, automobiles, tyres, high-voltage cables, batteries, and synthetic fibres. It also contributed to the emergence of Turkey’s corporate capital markets by participating in the issuance, intermediation, and guarantee of corporate bonds. The bank’s institutional history includes early adoption of international auditing practices and an equity relationship with the International Finance Corporation, described in reference material as IFC’s first equity participation in Turkey. TSKB later broadened its access to international funding. Its milestones included participation in the Japanese Samurai bond market during the 1980s, management of a European Investment Bank venture-capital fund in the 1990s, and international syndicated borrowing in the 2000s. These activities helped diversify the bank’s funding base and strengthened its role as a bridge between Turkish companies and international development-finance institutions. Sustainability has become central to TSKB’s identity. The bank established an environmental management system compliant with ISO 14001, measured and neutralised its corporate carbon footprint, and developed lending and advisory activities around renewable energy, resource efficiency, climate adaptation, and inclusive development. In 2016, it issued Turkey’s first green and sustainable bonds in international capital markets, followed by a sustainable subordinated bond in 2017. TSKB also joined the United Nations Environment Programme Finance Initiative and became a founding signatory of the Principles for Responsible Banking in 2019. The bank serves mainly corporate and institutional clients rather than operating primarily as a mass-market consumer bank. Its activities include investment and development lending, project finance, corporate finance, treasury and capital-markets services, advisory work, and financing supported by international institutions. In addition to its Istanbul headquarters, TSKB maintains branches in Ankara and Izmir. Its shareholder base is led by banks, with Türkiye İş Bankası and its subsidiaries holding the largest disclosed stake, alongside Vakıflar Bankası and public investors through Borsa Istanbul. By the late 2020s reference period, TSKB was described as Turkey’s seventh-largest bank and the largest investment bank by shareholders’ equity. It has also been associated with the Borsa Istanbul Sustainability Index and international development-finance networks, including the Long-Term Investors Club, the European Association of Long-Term Investors, and the International Development Finance Club. TSKB’s modern positioning combines development banking, institutional finance, capital-markets access, and sustainability-oriented investment.
History
TSKB was founded in 1950 during a period when Turkey was attempting to accelerate industrialisation while coping with a shortage of foreign exchange and limited domestic sources of long-term capital. It was created through cooperation between the World Bank and the Turkish government and became the country’s first privately owned investment bank. Its purpose was not primarily retail banking, but the mobilisation of capital and expertise for private-sector investment. The bank’s first activities included foreign-currency lending, import financing, and the provision of technical assistance to industrial enterprises. In the context of the Marshall Plan, TSKB served as an authorised intermediary for certain foreign-exchange operations and helped direct external resources toward productive investment. This gave it a specialised role in Turkey’s early postwar economic development. During the 1950s, TSKB developed project-based lending and advisory capabilities. In the following two decades, it financed industrial projects that contributed to the development of domestic manufacturing, including projects associated with buses, automobiles, tyres, cables, batteries, and synthetic fibres. It also helped develop Turkey’s corporate-finance infrastructure by participating in corporate bond issuance, intermediation, and guarantees. The bank was among the early Turkish institutions to adopt independent external auditing to international standards, and its relationship with the International Finance Corporation represented an important link with multilateral development finance. From the 1980s onward, TSKB diversified its international relationships and funding sources. It participated in the Samurai bond market in Japan, managed a European Investment Bank venture-capital fund during the 1990s, and arranged or completed international syndicated loans in the 2000s. These steps supported the bank’s continuing role as an intermediary between international lenders and Turkish companies. Environmental and social finance became increasingly important in the bank’s strategy. TSKB established an environmental management system compliant with ISO 14001 and became the first Turkish bank described in the supplied material as measuring and neutralising its corporate carbon footprint. Its sustainability profile received international recognition when it was named Sustainable Bank of the Year for Eastern Europe in 2008, 2009, and 2010 in awards associated with the Financial Times and the International Finance Corporation. The bank’s sustainable-finance activity expanded internationally in 2016, when it issued green and sustainable bonds in international capital markets. In 2017, it issued a sustainable subordinated bond described as a global first. TSKB subsequently joined UNEP FI and became a founding signatory of the Principles for Responsible Banking in 2019. It has also participated in international long-term-investor and development-finance organisations, including LTIC, ELTI, and IDFC. TSKB is headquartered in Istanbul and maintains branches in Ankara and Izmir. Its services are directed mainly toward companies, project sponsors, institutional investors, and public or international development-finance partners. The bank offers investment and development loans, project finance, corporate finance, treasury and capital-markets services, and sustainability-related advisory work. Its shareholder structure is led by Türkiye İş Bankası and its subsidiaries, with additional holdings attributed to Vakıflar Bankası and public investors. TSKB is listed on Borsa Istanbul under the ticker TSKB and remains active as a specialised Turkish development and investment bank.
- 2020
First female chief executive
[1]The bank appoints a female chief executive for the first time in its history.
- 2019
Responsible-banking commitment
[1]TSKB becomes a founding signatory of the UNEP FI Principles for Responsible Banking.
- 2017
Sustainable subordinated bond
[1]The bank issues a sustainable subordinated bond described as a global first.
- 2016
International green and sustainable bonds
[1]TSKB becomes the first Turkish institution described in the supplied material as issuing green and sustainable bonds in international capital markets.
- 2008
Sustainable banking recognition begins
[1]TSKB receives the Sustainable Bank of the Year for Eastern Europe award in an assessment associated with the Financial Times and IFC.
- 2000
International syndicated lending
[1]TSKB completes international syndicated-loan transactions, strengthening its access to overseas funding.
- 1990
European Investment Bank venture-capital mandate
[1]The bank manages a venture-capital fund connected with the European Investment Bank.
- 1980
Samurai bond-market activity
[1]TSKB participates in the Japanese Samurai bond market as part of its international funding diversification.
- 1960
Industrialisation financing expands
[1]During the 1960s and 1970s, TSKB finances projects in automotive, tyres, cables, batteries, synthetic fibres, and other industrial fields.
- 1950
TSKB is established
[1]The bank begins operations as Turkey’s first privately owned investment and development bank, founded with support from the World Bank and the Turkish government.
Products and positioning
Private-sector development and investment bank with a strong focus on long-term corporate finance, project finance, international funding, and sustainable banking.
Development banking · 1950
Development loans
Long-term financing for private-sector investment and productive capacity. These facilities reflect TSKB’s original development-bank mandate and are generally directed toward companies and projects requiring capital beyond the scope of ordinary short-term commercial lending.
Corporate and infrastructure finance
Project finance
Structured financing for major corporate, industrial, infrastructure, and energy projects. TSKB combines lending with project evaluation and advisory capabilities, and has increasingly linked project finance with environmental and social criteria.
Green and social finance
Sustainable finance
Financing and capital-markets solutions connected with renewable energy, resource efficiency, climate objectives, and inclusive development. The offering includes green and sustainable bonds and lending supported by international development-finance partners.
Investment banking
Corporate and investment banking
Services for corporate and institutional clients, including corporate finance, investment banking advisory, treasury operations, capital-markets intermediation, and support for bond issuance. The bank’s model is oriented toward professional and institutional clients rather than mass-market retail banking.
International development finance
International funding facilities
Credit and funding programmes linked to multilateral and international financial institutions. These facilities help TSKB extend financing to Turkish businesses while diversifying its funding sources through bonds, syndicated loans, and development-finance partnerships.
Brand decisions
2019
Adopt the Principles for Responsible BankingStrategyBackground
TSKB’s environmental-management and sustainable-finance activities led it to deepen its formal alignment with international responsible-banking frameworks.
Action taken
The bank joined UNEP FI and became a founding signatory of the Principles for Responsible Banking.
Aftermath
Responsible banking became a more explicit component of TSKB’s institutional sustainability strategy.
2017
Issue a sustainable subordinated bondProduct launchBackground
Following its earlier green and sustainable bond activity, TSKB continued to integrate sustainability criteria into its capital structure and international funding programme.
Action taken
The bank issued a sustainable subordinated bond described in the supplied reference material as a global first.
Aftermath
The issuance reinforced the bank’s international sustainable-finance positioning.
2016
Enter international green and sustainable bond marketsProduct launchBackground
TSKB sought to extend its sustainable-banking strategy beyond lending and advisory services and to attract international capital for environmentally and socially oriented projects.
Action taken
The bank issued green and sustainable bonds in international capital markets.
Aftermath
The transactions strengthened TSKB’s profile as a Turkish sustainable-finance pioneer and provided a platform for subsequent sustainable debt issuance.
Recent events
- 2020
TSKB appoints its first female chief executive[1]
Leadership change
The bank appointed a woman as chief executive officer for the first time in its history, according to the supplied reference material.
- 2019
TSKB becomes a founding signatory of the Principles for Responsible Banking[1]
Other
Following its participation in UNEP FI, TSKB joined the founding signatories of the Principles for Responsible Banking.
- 2017
TSKB issues sustainable subordinated bond[1]
Product launch · Other
The bank completed a sustainable subordinated bond transaction described in reference material as a global first of its kind.
- 2016
TSKB expands its sustainable-finance role[1]
Product launch · Other
The bank issued green and sustainable bonds in international capital markets, positioning the transactions as a major step in Turkish sustainable finance.
- 1950
TSKB established as Turkey’s first privately owned investment bank[1]
Other
The institution began operations to support Turkey’s private sector and industrial development through long-term and foreign-currency financing.
Sources2 sources
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