Snapshot of Results
| Profitability(%) |
1H23 |
9M23 |
2023 |
1H24 |
9M24 |
| ROE |
39 |
41,2 |
37,9 |
22,4 |
20,2 |
| ROE, Quarterly |
50,3 |
45,5 |
30 |
20,1 |
16 |
| ROA |
4,7 |
4,9 |
4,4 |
2,3 |
2 |
| ROA, Quarterly |
5,8 |
5 |
3,3 |
2 |
1,5 |
| Swap Adj. NIM |
4,3 |
5,3 |
4,7 |
2,4 |
2,2 |
| Swap Adj. NIM, Quarterly |
3,8 |
6,8 |
3,4 |
2,1 |
1,9 |
| CIR (1) |
32 |
30 |
32,7 |
56 |
56,7 |
| CIR, Quarterly |
26,4 |
27,3 |
40,8 |
59,6 |
58 |
| (%) |
|
|
|
|
|
| Total LDR (2) |
74 |
73 |
71 |
78 |
80 |
| TL (2) |
87 |
85 |
83 |
84 |
82 |
| FX |
56 |
55 |
53 |
73 |
77 |
| Leverage (x) |
9 |
9 |
9 |
10,4 |
10,4 |
| Asset Quality(%) |
|
|
|
|
|
| NPL Ratio |
2,1 |
2 |
2,2 |
2,1 |
2,5 |
| Stage 3 Coverage |
70,1 |
70,7 |
62,1 |
55,2 |
56,7 |
| Stage 2/Total Gross Loans |
6,6 |
7 |
6,4 |
6 |
5,8 |
| Stage 2 Coverage |
18,5 |
17,1 |
16,6 |
16,6 |
14 |
| Net CoC |
1,64 |
1,42 |
1,4 |
0,58 |
0,99 |
| Net CoC, Quarterly |
1,91 |
1,06 |
1,36 |
1,1 |
1,7 |
| Net CoC (excl. Currency) |
1,14 |
1,07 |
1,07 |
0,47 |
0,87 |
| Net CoC(excl. Currency), Quarterly |
1,05 |
0,94 |
1,08 |
0,89 |
1,56 |
| Solvency (3) (%) |
|
|
|
|
|
| CAR |
17,1 |
18,4 |
18,5 |
16,4 |
17,2 |
| CET-1 |
14,9 |
15,5 |
15,6 |
12,7 |
13,4 |
| Tier-1 |
14,9 |
15,5 |
15,6 |
13,9 |
14,6 |
(1) CIR calculation excludes FX gain from hedge position related with stage 1&2 provisio
(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 2024
Balance Sheet Highlights
| Consolidated (TL mn) |
2023 |
9M24 |
YtD (%) |
| Cash and due from Banks |
356,898 |
373,755 |
5 |
| Securities |
464,946 |
576,844 |
24 |
| TL |
319,253 |
410,370 |
29 |
| FX (USD) |
4,949 |
4,879 |
-1 |
| Loans (net) |
929,613 |
1,253,067 |
35 |
| TL |
636,089 |
828,444 |
30 |
| FX (USD) |
9,971 |
12,445 |
25 |
| Other |
153,312 |
200,623 |
31 |
| Total Assets |
1,904,769 |
2,404,290 |
26 |
| Deposits |
1,292,914 |
1,575,241 |
22 |
| TL |
766,344 |
991,753 |
29 |
| FX (USD) |
17,887 |
17,101 |
(4) |
| Funds Borrowed and Bonds Issued |
178,687 |
236,304 |
32 |
| Repo |
99,404 |
199,983 |
101 |
| Other |
122,546 |
161,797 |
32 |
| Equity |
211,219 |
230,965 |
9 |
| Total Liabilities and S/H Equity |
1,904,769 |
2,404,290 |
26 |
Income Statement Highlights
| Consolidated (TL mn) |
2Q24 |
3Q24 |
QoQ(%) |
9M23 |
9M24 |
YoY(%) |
| Net Interest Income incl. swap cost |
10,571 |
10,370 |
(2) |
50,724 |
33,448 |
(34) |
| NII |
18,371 |
14,049 |
(24) |
49,846 |
52,525 |
5 |
| o/w CPI-linker income |
17,807 |
19,109 |
7 |
45,848 |
53,466 |
17 |
| Swap Cost |
(7,800) |
(3,680) |
(53) |
878 |
(19,077) |
- |
| Fees and Commissions (Net) |
17,221 |
19,763 |
15 |
21,980 |
51,820 |
136 |
| Net Trading Gain (Loss) |
6,328 |
5,979 |
(6) |
37,202 |
21,000 |
(44) |
| ECL hedge gain/ (loss) |
109 |
430 |
294 |
1,965 |
1,005 |
(49) |
| Other |
6,219 |
5,549 |
(11) |
35,237 |
19,995 |
(43) |
| Other Income |
285 |
496 |
74 |
946 |
2,182 |
131 |
| Operating Expense |
(20,340) |
(21,810) |
7 |
(32,688) |
(61,565) |
88 |
| Pre- Provision Income |
14,064 |
14,797 |
5 |
78,164 |
46,885 |
(40) |
| Provision for Loan Losses, net of collections |
(1,799) |
(5,225) |
190 |
(7,833) |
(8,284) |
6 |
| Stage 1+2 (net) |
(694) |
747 |
- |
(5,095) |
2 |
- |
| Stage 3 |
(3,138) |
(7,122) |
127 |
(3,001) |
(13,734) |
358 |
| Stage 3 Recoveries |
2,141 |
1,580 |
(26) |
2,228 |
6,454 |
190 |
| Currency Impact (fully hedged) |
(109) |
(430) |
294 |
(1,965) |
(1,005) |
(49) |
| Other Provisions |
120 |
1,413 |
- |
(751) |
1,275 |
- |
| Free Provisions |
- |
1,400 |
- |
- |
1,400 |
- |
| Other |
120 |
13 |
- |
(751) |
(125) |
(83) |
| Income Before Tax |
12,395 |
12,025 |
(11) |
69,588 |
39,919 |
(43) |
| Tax |
(1,475) |
(1,994) |
35 |
(18,119) |
(6,784) |
(63) |
| Net Income |
10,920 |
9,031 |
(17) |
51,469 |
33,135 |
(36) |