Annual Report 2020

Evaluation of Financial Position

Turk Eximbank’s total assets reached TL 204.2 billion (USD 27.7 billion) as of 31 December 2020.


Turk Eximbank’s total assets consist of 87.3% loans, 5.7% liquid assets and 7% securities held-to-maturity and other assets.

The Bank’s loan portfolio reached TL 179 billion as of the end of 2020, and increased by 25% over the previous year.

Of the total credits, 70.2% (TL 125.6 billion) are short-term credits and 29.8% (TL 53.4 billion) are medium- and long- term credits.

By using appropriate risk management techniques, Turk Eximbank has shown great efforts to collect receivables on time and in full.

Thus, although the Bank extends most of its resources as loans to the export sector, the NPL ratio is low, at 0.3%, when compared to the banking sector average.


Turk Eximbank’s liabilities reached TL 204.2 billion as of the end of 2020. Of these, 6% (TL 11.4 billion) was shareholder’s equity, 92% (TL 189.4 billion) was funds obtained from domestic and external markets, and 2% (TL 3.4 billion) was provisions and other liabilities.

The Bank’s shareholders’ equity was TL 11.4 billion, of which 81% (TL 9.3 billion) was paid-in capital, 6% (TL 632 million) was profit reserves and others, and 13% (TL 1.5 billion) was net profit.

The foreign resources amounted to TL 189.4 billion used for funding the Bank’s assets consisted of TL 116 billion in credits provided from the Central Bank of the Republic of Turkey, TL 45 billion in credits provided from domestic and foreign banks, TL 23 billion in marketable securities issued, TL 4.5 billion in subordinated loans.

At the Extraordinary General Assembly convened on 12 January 2017, Turk Eximbank switched to the “Registered Capital System” and increased its capital ceiling to TL 10 billion. The Bank’s current paid-in capital is TL 9.3 billion.

As per Article 21 entitled Exemptions of “Regulations Concerning the Classification of Credits and Procedures and Principles of the Provisions for These by Banks”, the private and general provisioning ratio for the Bank for transactions within the scope of the Law of its Establishment is set at zero percent. However, Turk Eximbank makes provisions within prudent banking principles.


The liquid assets-to-short-term liabilities ratio of Turk Eximbank has been realized at 107.2% as of 31 December 2020.

Profit & Loss Statement and Profitability

As the balance of Turk Eximbank is concentrated on credits, its effects can be seen on incomes. Of the Bank’s TL 5 billion in total interest income, 84% (TL 4.2 billion) came from interest earned from credits.

On the other hand, the Bank’s interest expense was TL 3.8 billion, of which 55% (TL 2.1 billion) was interest paid on borrowings from domestic international money markets, 44% (TL 1.7 billion) was interest paid on marketable securities issued and 1% (TL 22 million) was other interest expenses. Net interest income was TL 1.2 billion.

The Bank’s net profit was TL 1.5 billion as of 31 December 2020, yielding return on assets and return on equity ratios of 0.82% and 17.18%, respectively.