Snapshot of Results
| Profitability(%) |
1Q23 |
1H23 |
9M23 |
2023 |
1Q24 |
| ROE |
27,9 |
39 |
41,2 |
37,9 |
24,9 |
| ROE, Quarterly |
27,9 |
50,3 |
45,5 |
30 |
24,9 |
| ROA |
3,6 |
4,7 |
4,9 |
4,4 |
2,7 |
| ROA, Quarterly |
3,6 |
5,8 |
5 |
3,3 |
2,7 |
| Swap Adj. NIM |
5 |
4,3 |
5,3 |
4,7 |
2,7 |
| Swap Adj. NIM, Quarterly |
5 |
3,8 |
6,8 |
3,4 |
2,7 |
| CIR (1) |
40,3 |
32 |
30 |
32,7 |
52,8 |
| CIR, Quarterly |
40,3 |
26,4 |
27,3 |
40,8 |
52,8 |
| (%) |
|
|
|
|
|
| Total LDR (2) |
80 |
74 |
73 |
71 |
75 |
| TL (2) |
96 |
87 |
85 |
83 |
84 |
| FX |
54 |
56 |
55 |
53 |
56 |
| Leverage (x) |
8,2 |
9 |
9 |
9 |
9,7 |
| Asset Quality(%) |
|
|
|
|
|
| NPL Ratio |
2,5 |
2,1 |
2 |
2,2 |
2,1 |
| Stage 3 Coverage |
69,7 |
70,1 |
70,7 |
62,1 |
62,2 |
| Stage 2/Total Gross Loans |
6,1 |
6,6 |
7 |
6,4 |
6,3 |
| Stage 2 Coverage |
18,5 |
18,5 |
17,1 |
16,6 |
16,8 |
| Net CoC |
1,35 |
1,64 |
1,42 |
1,4 |
0,5 |
| Net CoC, Quarterly |
1,35 |
1,91 |
1,06 |
1,36 |
0,5 |
| Net CoC (excl. Currency) |
1,25 |
1,14 |
1,07 |
1,07 |
0,32 |
| Net CoC(excl. Currency), Quarterly |
1,25 |
1,05 |
0,94 |
1,08 |
0,32 |
| Solvency (3) (%) |
|
|
|
|
|
| CAR |
18,4 |
17,1 |
18,4 |
18,5 |
17,3 |
| CET-1 |
15,6 |
14,9 |
15,5 |
15,6 |
13,4 |
| Tier-1 |
15,6 |
14,9 |
15,5 |
15,6 |
14,6 |
(1) CIR calculation excludes FX gain from hedge position related with stage 1&2 provisions
(2) Bank-only, TL LDR includes domestic TL bond issuances and merchant payables
(3) w/o forbearances. Forbearance:; Fixing MtM losses of securities & FX rate for RWA calculation to 2022YE FX rate for 2023, fixing MtM losses of securities & FX rate for RWA calculation to 26.06.2023 FX rate for 1Q24
Balance Sheet Highlights
| Consolidated (TL mn) |
2023 |
1Q24 |
YtD (%) |
| Cash and due from Banks |
356,898 |
346,073 |
(3) |
| Securities |
464,946 |
532,843 |
15 |
| TL |
319,253 |
371,007 |
16 |
| FX (USD) |
4,949 |
5,013 |
1 |
| Loans (net) |
929,613 |
1,022,785 |
10 |
| TL |
636,089 |
710,219 |
12 |
| FX (USD) |
9,971 |
9,681 |
(3) |
| Other |
153,312 |
170,762 |
11 |
| Total Assets |
1,904,769 |
2,072,464 |
9 |
| Deposits |
1,292,914 |
1,373,604 |
6 |
| TL |
766,344 |
831,839 |
9 |
| FX (USD) |
17,887 |
16,780 |
(6) |
| Funds Borrowed and Bonds Issued |
178,687 |
208,382 |
17 |
| Repo |
99,404 |
137,710 |
39 |
| Other |
122,546 |
139,644 |
14 |
| Equity |
211,219 |
213,125 |
1 |
| Total Liabilities and S/H Equity |
1,904,769 |
2,072,464 |
9 |
Income Statement Highlights
| Consolidated (TL mn) |
1Q23 |
2Q23 |
3Q23 |
4Q23 |
1Q24 |
QoQ(%) |
YoY(%) |
| Net Interest Income incl. swap cost |
13,756 |
11,997 |
24,971 |
14,148 |
12,507 |
(12) |
(9) |
| NII |
13,740 |
11,375 |
24,731 |
19,023 |
20,105 |
6 |
46 |
| o/w CPI-linker income |
9,792 |
11,925 |
24,131 |
16,907 |
16,550 |
(2) |
69 |
| Swap Cost |
16 |
622 |
240 |
(4,875) |
(7,598) |
56 |
- |
| Fees and Commissions (Net) |
5,033 |
6,738 |
10,209 |
12,208 |
14,836 |
22 |
195 |
| Net Trading Gain (Loss) |
6,465 |
20,557 |
10,181 |
7,901 |
8,694 |
10 |
34 |
| ECL hedge gain/ (loss) |
166 |
1,559 |
240 |
653 |
466 |
(29) |
181 |
| Other |
6,299 |
18,998 |
9,941 |
7,248 |
8,228 |
14 |
31 |
| Other Income |
424 |
216 |
307 |
710 |
1,401 |
97 |
230 |
| Operating Expense |
(10,267) |
(10,027) |
(12,394) |
(14,900) |
(19,414) |
30 |
89 |
| Pre- Provision Income |
15,411 |
29,480 |
33,272 |
20,066 |
18,024 |
(10) |
17 |
| Provision for Loan Losses, net of collections |
(2,171) |
(3,471) |
(2,190) |
(3,115) |
(1,259) |
(60) |
(42) |
| Stage 1+2 (net) |
(1,885) |
(1,687) |
(1,523) |
(1,561) |
(51) |
(97) |
(97) |
| Stage 3 |
(1,151) |
(929) |
(921) |
(3,296) |
(3,475) |
5 |
202 |
| Stage 3 Recoveries |
1,030 |
704 |
494 |
2,396 |
2,733 |
14 |
165 |
| Currency Impact (fully hedged) |
(166) |
(1,559) |
(240) |
(653) |
(466) |
(29) |
181 |
| Other Provisions |
(154) |
(289) |
(308) |
526 |
(257) |
(149) |
67 |
| Free Provisions |
- |
- |
- |
- |
- |
- |
- |
| Other |
(154) |
(289) |
(308) |
526 |
(257) |
(149) |
67 |
| Income Before Tax |
13,086 |
25,723 |
30,778 |
17,504 |
16,499 |
(6) |
26 |
| Tax |
(2,375) |
(5,416) |
(10,328) |
(2,477) |
(3,314) |
34 |
40 |
| Net Income |
10,711 |
20,307 |
20,450 |
15,027 |
13,185 |
(12) |
23 |