{"id":922,"date":"2026-02-03T18:37:03","date_gmt":"2026-02-03T15:37:03","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=922"},"modified":"2026-02-07T14:19:06","modified_gmt":"2026-02-07T11:19:06","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-tskb-turkiye-sinai-kalkinma-bankasi-2025-12-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/922","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #TSKB | T\u00fcrkiye S\u0131nai Kalk\u0131nma Bankas\u0131 2025\/12 Bilan\u00e7o Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #TSKB | T\u00fcrkiye S\u0131nai Kalk\u0131nma Bankas\u0131 2025\/12 Bilan\u00e7o Analizi\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/4AKF4yNVCNk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h1>TSKB 2025 Finansal Karnesi: 1,1 Milyar TL\u2019lik &#8220;Serbest&#8221; Kar\u015f\u0131l\u0131k ve Bilan\u00e7onun Gizli Kahramanlar\u0131<\/h1>\n<p><b>1. Giri\u015f: Bir Bankan\u0131n Anatomisini Raporlardan Okumak<\/b><\/p>\n<p>Bir bankan\u0131n finansal sa\u011fl\u0131\u011f\u0131n\u0131 anlamak, sadece y\u0131l sonu a\u00e7\u0131klanan net k\u00e2r rakam\u0131n\u0131n g\u00f6rkemine bakmaktan \u00e7ok daha fazlas\u0131n\u0131 gerektirir; ger\u00e7ek tabloyu g\u00f6rebilmek i\u00e7in bilan\u00e7onun k\u0131lcal damarlar\u0131na, denet\u00e7i notlar\u0131na ve ayr\u0131lan kar\u015f\u0131l\u0131klar\u0131n derinli\u011fine inmek gerekir. 1950 y\u0131l\u0131nda T\u00fcrkiye\u2019nin ilk \u00f6zel yat\u0131r\u0131m ve kalk\u0131nma bankas\u0131 olarak temelleri at\u0131lan T\u00fcrkiye S\u0131nai Kalk\u0131nma Bankas\u0131 (TSKB), 2025 y\u0131l\u0131 itibar\u0131yla 75. kurulu\u015f y\u0131l d\u00f6n\u00fcm\u00fcn\u00fc kutlarken, kurumsal haf\u0131zas\u0131n\u0131 finansal sa\u011flaml\u0131kla ta\u00e7land\u0131r\u0131yor. 2025 y\u0131l\u0131 sonu verileri, bankan\u0131n sadece s\u00fcrd\u00fcr\u00fclebilir kalk\u0131nmadaki kritik rol\u00fcn\u00fc de\u011fil, ayn\u0131 zamanda f\u0131rt\u0131nal\u0131 ekonomik iklimlerde &#8220;ihtiyatl\u0131l\u0131k&#8221; prensibini nas\u0131l bir kalkan olarak kulland\u0131\u011f\u0131n\u0131 ortaya koyuyor.<\/p>\n<p><b>2. Denet\u00e7inin Notu: Neden &#8220;S\u0131n\u0131rl\u0131 Olumlu&#8221; G\u00f6r\u00fc\u015f?<\/b><\/p>\n<p>Ba\u011f\u0131ms\u0131z denetim kurulu\u015fu PwC taraf\u0131ndan haz\u0131rlanan raporun en \u00e7arp\u0131c\u0131 detay\u0131, finansal tablolara verilen &#8220;S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f&#8221; (Qualified Opinion) notudur. Finansal okuryazarlar i\u00e7in bu durum bir &#8220;hata&#8221;dan ziyade, banka y\u00f6netiminin muhafazak\u00e2r tutumu ile teknik muhasebe standartlar\u0131 aras\u0131ndaki bir tercihi ifade eder. TSKB \u00f6zelinde bu tercihin \u00f6znesi, <b>1.100.000 bin TL<\/b> tutar\u0131ndaki &#8220;serbest kar\u015f\u0131l\u0131k&#8221;t\u0131r.<\/p>\n<p>Bu noktada &#8220;gelir kalitesi&#8221; analizi yapanlar i\u00e7in kritik bir detay \u00f6ne \u00e7\u0131k\u0131yor: Banka, ge\u00e7mi\u015f y\u0131llarda ay\u0131rd\u0131\u011f\u0131 bu kar\u015f\u0131l\u0131\u011f\u0131n <b>950.000 bin TL<\/b> tutar\u0131ndaki k\u0131sm\u0131n\u0131 cari y\u0131lda iptal ederek gelir kaydetmi\u015ftir. Normal \u015fartlarda kar\u015f\u0131l\u0131k ay\u0131rmak k\u00e2r\u0131 t\u00f6rp\u00fcleyen bir unsurken, TSKB\u2019nin ge\u00e7mi\u015fte &#8220;k\u00f6t\u00fc g\u00fcn ak\u00e7esi&#8221; olarak kenara koydu\u011fu bu tutar\u0131 sisteme dahil etmesi, 2025 k\u00e2r\u0131n\u0131 yukar\u0131 \u00e7eken bir kald\u0131ra\u00e7 g\u00f6revi g\u00f6rm\u00fc\u015ft\u00fcr. E\u011fer bu kar\u015f\u0131l\u0131k y\u00f6netimi yap\u0131lmasayd\u0131, bankan\u0131n net k\u00e2r\u0131 950 milyon TL daha d\u00fc\u015f\u00fck g\u00f6r\u00fcnecekti.<\/p>\n<p>Bu kar\u015f\u0131l\u0131\u011f\u0131n finansal tablolar \u00fczerindeki teorik etkisi \u015f\u00f6yledir:<\/p>\n<ul>\n<li><b>Di\u011fer Kar\u015f\u0131l\u0131klar:<\/b> Serbest kar\u015f\u0131l\u0131k ayr\u0131lmam\u0131\u015f olsayd\u0131 1.100.000 bin TL daha az olacakt\u0131.<\/li>\n<li><b>Net K\u00e2r:<\/b> Cari y\u0131ldaki 950 milyon TL&#8217;lik iptal etkisi olmasayd\u0131, k\u00e2r 950.000 bin TL daha az ger\u00e7ekle\u015fecekti.<\/li>\n<li><b>\u00d6zkaynaklar:<\/b> Kar\u015f\u0131l\u0131k hi\u00e7 ayr\u0131lmasayd\u0131, \u00f6zkaynaklar 1.100.000 bin TL daha y\u00fcksek seviyede kalacakt\u0131.<\/li>\n<\/ul>\n<p>&#8220;G\u00f6r\u00fc\u015f\u00fcm\u00fcze g\u00f6re, S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f\u00fcn Dayana\u011f\u0131 paragraf\u0131nda a\u00e7\u0131klanan hususun konsolide finansal tablolar \u00fczerindeki etkisi hari\u00e7 olmak \u00fczere, ili\u015fikteki konsolide finansal tablolar Grup\u2019un 31 Aral\u0131k 2025 tarihi itibar\u0131yla konsolide finansal durumunu&#8230; ger\u00e7e\u011fe uygun bir bi\u00e7imde sunmaktad\u0131r.&#8221;<\/p>\n<p><b>3. Kar Tablosu: Zorlu Y\u0131lda 11,4 Milyar TL Net K\u00e2r<\/b><\/p>\n<p>TSKB, enflasyon muhasebesinin (TMS 29) uygulanmad\u0131\u011f\u0131 ve bankalar i\u00e7in kurumlar vergisi oran\u0131n\u0131n %30 gibi y\u00fcksek bir seviyede seyretti\u011fi 2025 y\u0131l\u0131n\u0131, operasyonel bir ba\u015far\u0131 hik\u00e2yesiyle kapatt\u0131. Faiz gelirlerinde ula\u015f\u0131lan 37,1 milyar TL\u2019lik hacim, bankan\u0131n kaynak verimlili\u011fini g\u00f6sterirken, net k\u00e2rdaki art\u0131\u015f ivmesi sermaye g\u00fcc\u00fcn\u00fc peki\u015ftirmi\u015ftir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Temel Performans G\u00f6stergeleri (Bin TL)<\/td>\n<td>2024 (\u00d6nceki D\u00f6nem)<\/td>\n<td>2025 (Cari D\u00f6nem)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td>237.528.982<\/td>\n<td>334.293.518<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td>33.152.700<\/td>\n<td>46.463.725<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131<\/b><\/td>\n<td>10.356.755<\/td>\n<td>11.427.146<\/td>\n<\/tr>\n<tr>\n<td><b>Net Faiz Geliri<\/b><\/td>\n<td>15.855.099<\/td>\n<td>17.860.647<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Analiz:<\/b> Toplam varl\u0131klardaki %40\u2019\u0131 a\u015fan b\u00fcy\u00fcme ve \u00f6zkaynaklar\u0131n 33,1 milyar TL\u2019den 46,4 milyar TL\u2019ye y\u00fckselmesi, TSKB\u2019nin zorlu makroekonomik ko\u015fullarda dahi y\u00fcksek bir sermaye yeterlili\u011fi ve b\u00fcy\u00fcme i\u015ftah\u0131 sergiledi\u011finin en net kan\u0131t\u0131d\u0131r.<\/p>\n<p><b>4. Krediler ve Risk Y\u00f6netimi: 239 Milyar TL&#8217;lik Dev Portf\u00f6y<\/b><\/p>\n<p>Bankan\u0131n aktif toplam\u0131n\u0131n yakla\u015f\u0131k %72&#8217;sini olu\u015fturan kredi portf\u00f6y\u00fc, 2025 sonu itibar\u0131yla <b>239.299.385 bin TL<\/b> seviyesine ula\u015ft\u0131. B\u00f6ylesine devasa bir portf\u00f6y\u00fcn y\u00f6netimi, TFRS 9 standartlar\u0131 kapsam\u0131nda karma\u015f\u0131k matematiksel modelleri ve \u00f6znel yarg\u0131lar\u0131 beraberinde getirmektedir.<\/p>\n<p>Denet\u00e7ilerin bu alan\u0131 &#8220;Kilit Denetim Konusu&#8221; (KAM) olarak se\u00e7mesi, bankac\u0131l\u0131\u011f\u0131n en b\u00fcy\u00fck risk pay\u0131n\u0131n burada yatmas\u0131ndand\u0131r. PwC, <b>10.684.298 bin TL<\/b> tutar\u0131ndaki beklenen zarar kar\u015f\u0131l\u0131\u011f\u0131n\u0131 incelerken; ileriye d\u00f6n\u00fck makroekonomik senaryolar\u0131n, temerr\u00fct olas\u0131l\u0131klar\u0131n\u0131n ve subjektif tahminlerin finansal tablolar \u00fczerindeki etkisine odaklanm\u0131\u015ft\u0131r. Bu alan, bankan\u0131n risk y\u00f6netimindeki entelekt\u00fcel derinli\u011finin ve &#8220;muhtemel f\u0131rt\u0131nalara&#8221; kar\u015f\u0131 haz\u0131rl\u0131k d\u00fczeyinin \u00f6l\u00e7\u00fcld\u00fc\u011f\u00fc ger\u00e7ek bir s\u0131nav alan\u0131d\u0131r.<\/p>\n<p><b>5. Liderlikte Bayrak Yar\u0131\u015f\u0131: Yeni D\u00f6nemin Kaptanlar\u0131<\/b><\/p>\n<p>2025 y\u0131l\u0131 TSKB i\u00e7in sadece finansal bir ba\u015far\u0131 y\u0131l\u0131 de\u011fil, ayn\u0131 zamanda y\u00f6netimde bir &#8220;bayrak yar\u0131\u015f\u0131&#8221; d\u00f6nemi oldu. 31 Temmuz 2025\u2019te Murat Bilgi\u00e7\u2019in emeklili\u011fi sonras\u0131 Genel M\u00fcd\u00fcrl\u00fck g\u00f6revini devralan <b>Ozan Uyar<\/b>, bankan\u0131n s\u00fcrd\u00fcr\u00fclebilirlik vizyonunu yeni d\u00f6neme ta\u015f\u0131yor. Y\u00f6netim Kurulu Ba\u015fkan\u0131 <b>Hakan Aran<\/b> liderli\u011findeki yap\u0131, bankan\u0131n 75 y\u0131ll\u0131k tecr\u00fcbesini modern bankac\u0131l\u0131kla harmanlamaya devam ediyor.<\/p>\n<p>Y\u00f6netimin kilit isimleri ve sorumluluklar\u0131:<\/p>\n<ul>\n<li><b>Hakan Aran:<\/b> Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/li>\n<li><b>Ece B\u00f6r\u00fc:<\/b> Y\u00f6netim Kurulu Ba\u015fkan Vekili ve Denetim Komitesi Ba\u015fkan\u0131<\/li>\n<li><b>Ozan Uyar:<\/b> Y\u00f6netim Kurulu \u00dcyesi ve Genel M\u00fcd\u00fcr<\/li>\n<li><b>Tolga Sert:<\/b> GMY \u2013 Kredi Portf\u00f6y Y\u00f6netimi ve Analiti\u011fi, B\u00fct\u00e7e ve Planlama, Mali Kontrol, Finansal Analiz<\/li>\n<\/ul>\n<p><b>6. Emekli Sand\u0131\u011f\u0131 Belirsizli\u011fi ve Akt\u00fceryal G\u00fcvence<\/b><\/p>\n<p>Raporun dipnotlar\u0131nda yer alan Emekli Sand\u0131\u011f\u0131\u2019n\u0131n Sosyal G\u00fcvenlik Kurumu\u2019na (SGK) devri meselesi, finansal bir riskten ziyade bir &#8220;takvim belirsizli\u011fi&#8221; olarak okunmal\u0131d\u0131r. Devir tarihini belirleme yetkisi Cumhurba\u015fkanl\u0131\u011f\u0131\u2019nda bulunsa da, bankan\u0131n <b>23 Ocak 2026 tarihli akt\u00fcer raporu<\/b>, 31 Aral\u0131k 2025 itibar\u0131yla herhangi bir teknik a\u00e7\u0131k tespit edilmedi\u011fini teyit etmektedir. Banka y\u00f6netimi, sand\u0131k varl\u0131klar\u0131n\u0131n t\u00fcm y\u00fck\u00fcml\u00fcl\u00fckleri kar\u015f\u0131layabilecek d\u00fczeyde oldu\u011funa ve ek bir mali y\u00fck olu\u015fmayaca\u011f\u0131na dair g\u00fc\u00e7l\u00fc bir \u00f6ng\u00f6r\u00fcye sahiptir.<\/p>\n<p><b>7. Sonu\u00e7: S\u00fcrd\u00fcr\u00fclebilir Kalk\u0131nman\u0131n Finansal Temelleri<\/b><\/p>\n<p>TSKB, 2025 y\u0131l\u0131n\u0131 334,3 milyar TL\u2019lik varl\u0131k b\u00fcy\u00fckl\u00fc\u011f\u00fc ve 46,5 milyar TL\u2019lik \u00f6zkaynak g\u00fcc\u00fcyle kapat\u0131rken, sadece bir finans kurulu\u015fu de\u011fil, riskleri y\u00f6netmedeki ustal\u0131\u011f\u0131yla bir g\u00fcven abidesi oldu\u011funu kan\u0131tlad\u0131.<\/p>\n<p>Enflasyon muhasebesinin uygulanmad\u0131\u011f\u0131 ve bankalar i\u00e7in kurumlar vergisi y\u00fck\u00fcn\u00fcn %30\u2019larda a\u011f\u0131rla\u015ft\u0131\u011f\u0131 bir konjonkt\u00fcrde, bilan\u00e7o k\u00f6\u015felerine yerle\u015ftirilen &#8220;serbest kar\u015f\u0131l\u0131klar&#8221;, bankalar\u0131n gelecekteki dalgalanmalara kar\u015f\u0131 en stratejik savunma hatt\u0131n\u0131 olu\u015fturmaktad\u0131r.<\/p>\n<p><b>TSKB, 2025 sonu\u00e7lar\u0131yla s\u00fcrd\u00fcr\u00fclebilir b\u00fcy\u00fcme hedeflerini sa\u011flam bir finansal zemin ve ihtiyatl\u0131 bir risk y\u00f6netimi anlay\u0131\u015f\u0131yla m\u00fch\u00fcrlemi\u015ftir.<\/b><\/p>\n<p>&nbsp;<\/p>\n<h1>TSKB 2025 Konsolide Finansal Raporu ve Ba\u011f\u0131ms\u0131z Denetim Bilgilendirme Belgesi<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu belge, T\u00fcrkiye S\u0131nai Kalk\u0131nma Bankas\u0131 A.\u015e. (TSKB) ve finansal ortakl\u0131klar\u0131n\u0131n 31 Aral\u0131k 2025 tarihinde sona eren hesap d\u00f6nemine ait konsolide finansal tablolar\u0131n\u0131 ve ba\u011f\u0131ms\u0131z denet\u00e7i raporunu analiz etmektedir. PwC taraf\u0131ndan haz\u0131rlanan ba\u011f\u0131ms\u0131z denetim raporu, belirli bir husus d\u0131\u015f\u0131nda finansal tablolar\u0131n ger\u00e7e\u011fe uygun oldu\u011funu belirten &#8220;S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f&#8221; (Qualified Opinion) i\u00e7ermektedir.<\/p>\n<p><b>Temel Bulgular ve Finansal G\u00f6stergeler:<\/b><\/p>\n<ul>\n<li><b>Net Kar:<\/b> Grup, 2025 y\u0131l\u0131nda 11.323.717 bin TL ana ortakl\u0131k pay\u0131 net d\u00f6nem k\u00e2r\u0131 elde etmi\u015ftir (2024: 10.221.982 bin TL).<\/li>\n<li><b>Aktif B\u00fcy\u00fckl\u00fc\u011f\u00fc:<\/b> Toplam varl\u0131klar 334.293.518 bin TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<li><b>\u00d6zkaynaklar:<\/b> Toplam \u00f6zkaynaklar 46.463.725 bin TL olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>Denetim G\u00f6r\u00fc\u015f\u00fc:<\/b> 1,1 milyar TL tutar\u0131ndaki &#8220;serbest kar\u015f\u0131l\u0131k&#8221; nedeniyle s\u0131n\u0131rl\u0131 olumlu g\u00f6r\u00fc\u015f verilmi\u015ftir.<\/li>\n<li><b>Kilit Denetim Konular\u0131:<\/b> Kredilerdeki beklenen kredi zarar kar\u015f\u0131l\u0131klar\u0131 (10,7 milyar TL) ve Emekli Sand\u0131\u011f\u0131 y\u00fck\u00fcml\u00fcl\u00fcklerinin de\u011ferlemesi en kritik risk alanlar\u0131 olarak belirlenmi\u015ftir.<\/li>\n<li><b>D\u00fczenleyici \u00c7er\u00e7eve:<\/b> 2025 y\u0131l\u0131 finansal tablolar\u0131nda BDDK kararlar\u0131 uyar\u0131nca TMS 29 kapsam\u0131nda enflasyon muhasebesi uygulanmam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>1. Ba\u011f\u0131ms\u0131z Denetim Analizi ve S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f<\/h2>\n<p>PwC Ba\u011f\u0131ms\u0131z Denetim ve SMMM A.\u015e. taraf\u0131ndan y\u00fcr\u00fct\u00fclen denetim sonucunda, Banka&#8217;n\u0131n finansal tablolar\u0131 hakk\u0131nda &#8220;S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f&#8221; bildirilmi\u015ftir.<\/p>\n<h3>1.1 S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f\u00fcn Dayana\u011f\u0131<\/h3>\n<p>G\u00f6r\u00fc\u015f\u00fcn s\u0131n\u0131rland\u0131r\u0131lmas\u0131n\u0131n temel nedeni, Banka y\u00f6netimi taraf\u0131ndan ayr\u0131lan <b>serbest kar\u015f\u0131l\u0131klard\u0131r<\/b>.<\/p>\n<ul>\n<li><b>Tutar:<\/b> 31 Aral\u0131k 2025 itibar\u0131yla toplam 1.100.000 bin TL serbest kar\u015f\u0131l\u0131k ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Cari Y\u0131l Etkisi:<\/b> Bu tutar\u0131n 950.000 bin TL\u2019lik k\u0131sm\u0131 cari y\u0131lda iptal edilmi\u015ftir.<\/li>\n<li><b>Mali Etki:<\/b> E\u011fer bu serbest kar\u015f\u0131l\u0131k ayr\u0131lmam\u0131\u015f olsayd\u0131, 31 Aral\u0131k 2025 itibar\u0131yla &#8220;di\u011fer kar\u015f\u0131l\u0131klar&#8221; 1,1 milyar TL daha az, net k\u00e2r 950 milyon TL daha az ve \u00f6zkaynaklar 1,1 milyar TL daha fazla olacakt\u0131.<\/li>\n<\/ul>\n<h3>1.2 Mevzuata Uygunluk<\/h3>\n<p>Finansal tablolar; BDDK Muhasebe ve Finansal Raporlama Mevzuat\u0131\u2019na uygun olarak haz\u0131rlanm\u0131\u015ft\u0131r. 6102 say\u0131l\u0131 T\u00fcrk Ticaret Kanunu (TTK) uyar\u0131nca defter tutma d\u00fczeninin ve y\u00f6netim kurulu a\u00e7\u0131klamalar\u0131n\u0131n kanuna uygun oldu\u011fu teyit edilmi\u015ftir.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>2. Kilit Denetim Konular\u0131<\/h2>\n<p>Ba\u011f\u0131ms\u0131z denet\u00e7i, mesleki muhakemesine dayanarak cari d\u00f6nemin en \u00f6nemli risk alanlar\u0131n\u0131 &#8220;Kilit Denetim Konusu&#8221; (KDK) olarak tan\u0131mlam\u0131\u015ft\u0131r.<\/p>\n<h3>2.1 Krediler ve Beklenen Kredi Zarar Kar\u015f\u0131l\u0131klar\u0131 (TFRS 9)<\/h3>\n<p>Krediler, Grubun aktifinde en b\u00fcy\u00fck paya sahip kalemdir.<\/p>\n<ul>\n<li><b>Veriler:<\/b> 239.299.385 bin TL toplam kredi ve alacak kar\u015f\u0131s\u0131nda 10.684.298 bin TL beklenen kredi zarar kar\u015f\u0131l\u0131\u011f\u0131 ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Risk Nedeni:<\/b> TFRS 9 kapsam\u0131nda kar\u015f\u0131l\u0131k hesaplamas\u0131n\u0131n karma\u015f\u0131k finansal modeller (temerr\u00fct olas\u0131l\u0131\u011f\u0131, kay\u0131p oran\u0131 vb.) ve makroekonomik beklentiler gibi \u00f6nemli y\u00f6netimsel yarg\u0131lar i\u00e7ermesi.<\/li>\n<li><b>Denetim Prosed\u00fcrleri:<\/b> Modellerin makuliyeti finansal risk uzmanlar\u0131yla test edilmi\u015f, kredi \u00f6rneklemleri \u00fczerinden s\u0131n\u0131fland\u0131rmalar\u0131n do\u011frulu\u011fu (A\u015fama 1, 2 ve 3) kontrol edilmi\u015ftir.<\/li>\n<\/ul>\n<h3>2.2 Emekli Sand\u0131\u011f\u0131 Y\u00fck\u00fcml\u00fcl\u00fcklerinin De\u011ferlemesi<\/h3>\n<p>TSKB Memur ve M\u00fcstahdemleri Yard\u0131m ve Emekli Vakf\u0131 Sand\u0131\u011f\u0131 y\u00fck\u00fcml\u00fcl\u00fckleri, devir s\u00fcreci belirsizli\u011fi nedeniyle kritik \u00f6neme sahiptir.<\/p>\n<ul>\n<li><b>Stat\u00fc:<\/b> Sand\u0131k i\u015ftirak\u00e7ilerinin haklar\u0131 Sosyal G\u00fcvenlik Kurumu\u2019na (SGK) devredilecek kapsamdad\u0131r. Devir tarihini belirleme yetkisi Cumhurba\u015fkan\u0131\u2019na aittir.<\/li>\n<li><b>Akt\u00fceryal Varsay\u0131mlar:<\/b> De\u011ferlemelerde %9,80 teknik faiz oran\u0131 kullan\u0131lmaktad\u0131r. Hesaplamalar; iskonto oranlar\u0131, maa\u015f art\u0131\u015flar\u0131 ve demografik beklentiler gibi teknik tahminler gerektirmektedir.<\/li>\n<li><b>Bulgu:<\/b> 31 Aral\u0131k 2025 itibar\u0131yla yap\u0131lan akt\u00fceryal de\u011ferlemede kar\u015f\u0131l\u0131k ayr\u0131lmas\u0131n\u0131 gerektiren teknik bir a\u00e7\u0131k tespit edilmemi\u015ftir.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>3. Finansal Performans ve Mali B\u00fcnye<\/h2>\n<h3>3.1 Konsolide Bilan\u00e7o \u00d6zeti (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>31 Aral\u0131k 2025 (Cari)<\/td>\n<td>31 Aral\u0131k 2024 (\u00d6nceki)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td>334.293.518<\/td>\n<td>237.528.982<\/td>\n<\/tr>\n<tr>\n<td><b>Krediler (Net)<\/b><\/td>\n<td>239.299.385<\/td>\n<td>168.866.582<\/td>\n<\/tr>\n<tr>\n<td><b>Finansal Varl\u0131klar (Net)<\/b><\/td>\n<td>57.529.506<\/td>\n<td>35.743.824<\/td>\n<\/tr>\n<tr>\n<td><b>Al\u0131nan Krediler<\/b><\/td>\n<td>193.618.365<\/td>\n<td>124.002.505<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130hra\u00e7 Edilen Menkul K\u0131ymetler<\/b><\/td>\n<td>60.593.749<\/td>\n<td>53.512.352<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam \u00d6zkaynaklar<\/b><\/td>\n<td>46.463.725<\/td>\n<td>33.152.700<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.2 Gelir Tablosu Analizi (Bin TL)<\/h3>\n<ul>\n<li><b>Net Faiz Geliri:<\/b> 17.860.647 bin TL (2024: 15.855.099 bin TL). Faiz gelirlerindeki art\u0131\u015f\u0131n ana kayna\u011f\u0131 kredilerden al\u0131nan faizlerdir (22,7 milyar TL).<\/li>\n<li><b>Net \u00dccret ve Komisyon Gelirleri:<\/b> 832.651 bin TL.<\/li>\n<li><b>Ticari Kar\/Zarar:<\/b> -328.014 bin TL (Net zarar). Kambiyo i\u015flemlerinden 11,4 milyar TL k\u00e2r elde edilirken, t\u00fcrev finansal i\u015flemlerden 12,6 milyar TL zarar kaydedilmi\u015ftir.<\/li>\n<li><b>Beklenen Zarar Kar\u015f\u0131l\u0131k Giderleri:<\/b> 4.323.619 bin TL (\u00d6nceki y\u0131l 558.872 bin TL olan bu kalemde belirgin bir art\u0131\u015f g\u00f6zlenmi\u015ftir).<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>4. Kurumsal Yap\u0131 ve Stratejik Bilgiler<\/h2>\n<h3>4.1 Sermaye Yap\u0131s\u0131<\/h3>\n<p>Banka\u2019n\u0131n hakim orta\u011f\u0131 <b>T\u00fcrkiye \u0130\u015f Bankas\u0131 A.\u015e. Grubu<\/b>&#8216;dur (%51,37). Di\u011fer \u00f6nemli ortaklar:<\/p>\n<ul>\n<li>T\u00fcrkiye \u0130\u015f Bankas\u0131 A.\u015e.: %47,68<\/li>\n<li>T. Vak\u0131flar Bankas\u0131 T.A.O.: %8,38<\/li>\n<li>Fiili Dola\u015f\u0131mdaki Hisse (B\u0130ST): %41,20<\/li>\n<\/ul>\n<h3>4.2 \u00dcst Y\u00f6netim De\u011fi\u015fiklikleri<\/h3>\n<ul>\n<li><b>Genel M\u00fcd\u00fcrl\u00fck:<\/b> Murat Bilgi\u00e7, 31 Temmuz 2025 tarihinde emeklilik nedeniyle g\u00f6revinden ayr\u0131lm\u0131\u015f; yerine <b>Ozan Uyar<\/b> atanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Y\u00f6netim Kurulu:<\/b> Hakan Aran (Ba\u015fkan), Ece B\u00f6r\u00fc (Ba\u015fkan Vekili ve Denetim Komitesi Ba\u015fkan\u0131).<\/li>\n<\/ul>\n<h3>4.3 Faaliyet Alan\u0131<\/h3>\n<p>TSKB, T\u00fcrkiye&#8217;nin ilk \u00f6zel yat\u0131r\u0131m ve kalk\u0131nma bankas\u0131d\u0131r. Mevduat toplama yetkisi bulunmamaktad\u0131r. Temel amac\u0131; sanayi sekt\u00f6r\u00fc ba\u015fta olmak \u00fczere ekonomik yat\u0131r\u0131mlar\u0131 desteklemek, dan\u0131\u015fmanl\u0131k ve proje finansman\u0131 sa\u011flamakt\u0131r.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>5. \u00d6nemli Muhasebe Politikalar\u0131 ve Yasal Geli\u015fmeler<\/h2>\n<ul>\n<li><b>Enflasyon Muhasebesi (TMS 29):<\/b> KGK\u2019n\u0131n genel karar\u0131na ra\u011fmen, BDDK&#8217;n\u0131n 18 Aral\u0131k 2025 tarihli karar\u0131 uyar\u0131nca bankalar ve finansal kurulu\u015flar 2025 y\u0131l\u0131nda enflasyon muhasebesi uygulamam\u0131\u015ft\u0131r.<\/li>\n<li><b>Vergi D\u00fczenlemeleri:<\/b> Bankalar i\u00e7in kurumlar vergisi oran\u0131 <b>%30<\/b> olarak uygulanmaktad\u0131r. Ayr\u0131ca, 2025 y\u0131l\u0131ndan itibaren uygulanmak \u00fczere <b>Yurti\u00e7i Asgari Kurumlar Vergisi<\/b> (%10) y\u00fcr\u00fcrl\u00fc\u011fe girmi\u015ftir.<\/li>\n<li><b>Konsolidasyon:<\/b> Finansal i\u015ftirakler (Yat\u0131r\u0131m Finansman, TSKB GYO vb.) tam konsolidasyon veya \u00f6zkaynak y\u00f6ntemiyle dahil edilirken, mali olmayan i\u015ftirakler (gayrimenkul de\u011ferleme, s\u00fcrd\u00fcr\u00fclebilirlik dan\u0131\u015fmanl\u0131\u011f\u0131 vb.) tebli\u011f gere\u011fi konsolide edilmemi\u015ftir.<\/li>\n<li><b>Kar Da\u011f\u0131t\u0131m\u0131:<\/b> 2025 y\u0131l\u0131 k\u00e2r da\u011f\u0131t\u0131m \u00f6nerisi hen\u00fcz kesinle\u015fmemi\u015f olup, sadece da\u011f\u0131t\u0131labilir k\u00e2r tutar\u0131 (11.382.793 bin TL) tabloda belirtilmi\u015ftir.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>6. Kritik Al\u0131nt\u0131lar<\/h2>\n<p>&#8220;G\u00f6r\u00fc\u015f\u00fcm\u00fcze g\u00f6re, S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f\u00fcn Dayana\u011f\u0131 paragraf\u0131nda a\u00e7\u0131klanan hususun konsolide finansal tablolar \u00fczerindeki etkisi hari\u00e7 olmak \u00fczere&#8230; Grup\u2019un 31 Aral\u0131k 2025 tarihi itibar\u0131yla konsolide finansal durumunu&#8230; ger\u00e7e\u011fe uygun bir bi\u00e7imde sunmaktad\u0131r.&#8221; \u2014 <b>Ba\u011f\u0131ms\u0131z Denet\u00e7i Raporu<\/b><\/p>\n<p>&#8220;Banka y\u00f6netimi taraf\u0131ndan&#8230; 1.100.000 bin TL tutar\u0131nda di\u011fer kar\u015f\u0131l\u0131klar alt\u0131nda s\u0131n\u0131fland\u0131r\u0131lan serbest kar\u015f\u0131l\u0131k ayr\u0131lm\u0131\u015ft\u0131r. S\u00f6z konusu serbest kar\u015f\u0131l\u0131k ayr\u0131lmam\u0131\u015f olsayd\u0131&#8230; net kar ve \u00f6zkaynaklar s\u0131ras\u0131yla 950.000 bin TL daha az ve 1.100.000 bin TL daha fazla olacakt\u0131.&#8221; \u2014 <b>S\u0131n\u0131rl\u0131 Olumlu G\u00f6r\u00fc\u015f\u00fcn Dayana\u011f\u0131<\/b><\/p>\n<p>&#8220;Ana ortakl\u0131k Banka\u2019n\u0131n stat\u00fcs\u00fc&#8230; &#8216;Kalk\u0131nma ve Yat\u0131r\u0131m Bankas\u0131&#8217;d\u0131r. Ana ortakl\u0131k Banka\u2019n\u0131n &#8216;Mevduat Kabul Etme&#8217; yetkisi bulunmamaktad\u0131r.&#8221; \u2014 <b>Genel Bilgiler B\u00f6l\u00fcm\u00fc<\/b><\/p>\n<button class=\"simplefavorite-button\" data-postid=\"922\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>TSKB 2025 Y\u0131l\u0131 Konsolide Finansal Sonu\u00e7lar\u0131n\u0131 A\u00e7\u0131klad\u0131: S\u00fcrd\u00fcr\u00fclebilir B\u00fcy\u00fcme ve G\u00fc\u00e7l\u00fc Sermaye Yap\u0131s\u0131<br \/>\nTSKB, 2025 y\u0131l\u0131nda net k\u00e2r\u0131n\u0131 11,4 milyar TL&#8217;ye \u00e7\u0131kararak istikrarl\u0131 b\u00fcy\u00fcmesini s\u00fcrd\u00fcrd\u00fc. Toplam aktif b\u00fcy\u00fckl\u00fc\u011f\u00fc 334,3 milyar TL&#8217;ye ula\u015fan banka, %25,01 sermaye yeterlilik oran\u0131yla finansal sa\u011flaml\u0131\u011f\u0131n\u0131 bir kez daha kan\u0131tlad\u0131. Net faiz gelirlerinde elde edilen %12,65&#8217;lik art\u0131\u015f ve 239,3 milyar TL&#8217;lik kredi hacmi, bankan\u0131n T\u00fcrkiye\u2019nin kalk\u0131nma hedeflerine sa\u011flad\u0131\u011f\u0131 kesintisiz deste\u011fin bir g\u00f6stergesi olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":1,"featured_media":924,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[205],"class_list":["post-922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-tskb"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=922"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/922\/revisions"}],"predecessor-version":[{"id":925,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/922\/revisions\/925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/924"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}