Snapshot of Results
| Profitability(%) |
2022 |
1Q23 |
1H23 |
9M23 |
2023 |
| ROE |
54,7 |
27,9 |
39 |
41,2 |
37,9 |
| ROE, Quarterly |
62,3 |
27,9 |
50,3 |
45,5 |
30 |
| ROA |
6,2 |
3,6 |
4,7 |
4,9 |
4,4 |
| ROA, Quarterly |
7,9 |
3,6 |
5,8 |
5 |
3,3 |
| Swap Adj. NIM |
8,2 |
4,84 |
4,3 |
5,3 |
4,7 |
| Swap Adj. NIM, Quarterly |
11,1 |
4,84 |
3,8 |
6,8 |
3,4 |
| CIR (1) |
19 |
40,3 |
32 |
30 |
32,7 |
| CIR, Quarterly |
19,4 |
40,3 |
26,4 |
27,3 |
40,8 |
| (%) |
|
|
|
|
|
| Total LDR (2) |
82 |
80 |
74 |
73 |
71 |
| TL (2) |
106 |
96 |
87 |
85 |
83 |
| FX |
51 |
54 |
56 |
55 |
53 |
| Leverage (x) |
7,5 |
8,2 |
9 |
9 |
9 |
| Asset Quality(%) |
|
|
|
|
|
| NPL Ratio |
2,8 |
2,5 |
2,1 |
2 |
2,2 |
| Stage 3 Coverage |
67,6 |
69,7 |
70,1 |
70,7 |
62,1 |
| Stage 2/Total Gross Loans |
6,6 |
6,1 |
6,6 |
7 |
6,4 |
| Stage 2 Coverage |
16,4 |
18,5 |
18,5 |
17,1 |
16,6 |
| Net CoC |
0,81 |
1,35 |
1,64 |
1,42 |
1,4 |
| Net CoC, Quarterly |
0,89 |
1,35 |
1,91 |
1,06 |
1,36 |
| Net CoC (excl. Currency) |
0,54 |
1,25 |
1,14 |
1,07 |
1,07 |
| Net CoC(excl. Currency), Quarterly |
0,66 |
1,25 |
1,05 |
0,94 |
1,08 |
| Solvency (3) (%) |
|
|
|
|
|
| CAR |
20,9 |
18,6 |
17,1 |
18,4 |
18,5 |
| CET-1 |
17,9 |
15,7 |
14,9 |
15,5 |
15,6 |
| Tier-1 |
17,9 |
15,7 |
14,9 |
15,5 |
15,6 |
(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: Fixing MtM losses of securities & FX rate for RWA calculation to 2021YE FX rate for 2022; fixing MtM losses of securities & FX rate for RWA calculation to 2022YE FX rate for 2023
Balance Sheet Highlights
| Consolidated(TLmn) |
2022 |
9M23 |
2023 |
QoQ(%) |
YoY(%) |
| CashandduefromBanks |
167,376 |
303,350 |
356,898 |
18 |
113 |
| Securities |
280,542 |
421,867 |
464,946 |
10 |
66 |
| TL |
183,659 |
277,265 |
319,253 |
15 |
74 |
| FX(USD) |
5,181 |
5,282 |
4,949 |
(6) |
(4) |
| Loans(net) |
594,203 |
841,499 |
929,613 |
10 |
56 |
| TL |
393,861 |
559,398 |
636,089 |
14 |
62 |
| FX(USD) |
10,714 |
10,304 |
9,971 |
(3) |
(7) |
| Other |
105,173 |
149,956 |
153,312 |
2 |
46 |
| TotalAssets |
1,147,294 |
1,716,672 |
1,904,769 |
11 |
66 |
| Deposits |
721,562 |
1,133,736 |
1,292,914 |
14 |
79 |
| TL |
370,274 |
653,652 |
766,344 |
17 |
107 |
| FX(USD) |
18,787 |
17,536 |
17,887 |
2 |
(5) |
| FundsBorrowedandBondsIssued |
117,681 |
158,708 |
178,687 |
13 |
52 |
| Repo |
62,524 |
120,361 |
99,404 |
(17) |
59 |
| Other |
91,920 |
113,829 |
122,546 |
8 |
33 |
| Equity |
153,606 |
190,039 |
211,219 |
11 |
38 |
| TotalLiabilitiesandS/HEquity |
1,147,294 |
1,716,672 |
1,904,769 |
11 |
66 |
Income Statement Highlights
| Consolidated(TLmn) |
1Q23 |
2Q23 |
3Q23 |
4Q23 |
QoQ(%) |
2022 |
2023 |
YoY(%) |
| NetInterestIncomeincl.swapcost |
13,327 |
11,997 |
24,971 |
14,148 |
(43) |
72,543 |
64,871 |
(11) |
| NII |
13,740 |
11,375 |
24,731 |
19,023 |
(23) |
79,084 |
68,869 |
(13) |
| o/wCPI-linkerincome |
9,792 |
11,925 |
24,131 |
16,907 |
(30) |
51,302 |
62,754 |
22 |
| SwapCost |
(413) |
622 |
240 |
(4,875) |
- |
(6,541) |
(3,998) |
(39) |
| FeesandCommissions(Net) |
5,033 |
6,738 |
10,209 |
12,208 |
20 |
11,888 |
34,188 |
188 |
| NetTradingGain(Loss) |
6,894 |
20,557 |
10,181 |
7,901 |
(22) |
23,345 |
45,103 |
93 |
| LYYhedgegain/(loss) |
- |
- |
- |
- |
- |
3,462 |
- |
- |
| ECLhedgegain/(loss) |
166 |
1,559 |
240 |
653 |
172 |
1,370 |
2,618 |
91 |
| Other |
6,728 |
18,998 |
9,941 |
7,248 |
(27) |
18,513 |
42,484 |
129 |
| OtherIncome |
424 |
216 |
307 |
710 |
132 |
1,303 |
1,657 |
27 |
| OperatingExpense |
(10,267) |
(10,027) |
(12,394) |
(14,900) |
20 |
(20,426) |
(47,588) |
133 |
| Pre-ProvisionIncome |
15,411 |
29,480 |
33,272 |
20,066 |
(40) |
88,654 |
98,230 |
11 |
| ProvisionforLoanLosses,netofcollections |
(2,171) |
(3,471) |
(2,190) |
(3,115) |
42 |
(4,074) |
(10,948) |
169 |
| Stage1+2(net) |
(1,885) |
(1,687) |
(1,523) |
(1,561) |
3 |
(1,820) |
(6,656) |
266 |
| Stage3 |
(1,151) |
(929) |
(921) |
(3,296) |
258 |
(3,581) |
(6,298) |
76 |
| Stage3Recoveries |
1,030 |
704 |
494 |
2,396 |
385 |
2,697 |
4,624 |
71 |
| CurrencyImpact(fullyhedged) |
(166) |
(1,559) |
(240) |
(653) |
172 |
(1,370) |
(2,618) |
91 |
| OtherProvisions |
(154) |
(289) |
(308) |
526 |
- |
(4,309) |
(225) |
(95) |
| LYYMtMgain/(loss) |
- |
- |
- |
- |
- |
(3,464) |
- |
- |
| FreeProvisions |
- |
- |
- |
- |
- |
- |
- |
- |
| Other |
(154) |
(289) |
(308) |
526 |
- |
(845) |
(225) |
(73) |
| IncomeBeforeTax |
13,086 |
25,723 |
30,778 |
17,504 |
(43) |
80,271 |
87,092 |
8 |
| Tax |
(2,375) |
(5,416) |
(10,328) |
(2,477) |
(76) |
(20,245) |
(20,596) |
2 |
| NetIncome |
10,711 |
20,307 |
20,450 |
15,027 |
(27) |
60,026 |
66,496 |
11 |