Sustainable finance is rapidly gaining traction in the Turkish banking sector, with Akbank, Isbank, Vakifbank and Ziraat Bank all issuing ESG-labelled bonds in the year to the end of March.
The pioneer in the segment, however, and the winner of this year’s award for CEE’s best bank for sustainable finance is TSKB.
The Turkish privately owned development bank – which gets the majority of its funding from international financial institutions and development finance institutions – began adding environmental factors to its credit appraisal process and providing green loans as early as the 1980s.
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