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Consolidated financial highlights 

Snapshot of Results

Profitability(%) 1Q22 1H22 2022 1Q23 1H23
ROE 38,6 47,1 54,7 27,9 39
ROE, Quarterly 38,6 54,2 62,3 27,9 50,3
ROA 4 4,9 6,2 3,6 4,7
ROA, Quarterly 4 5,7 7,9 3,6 5,8
Swap Adj. NIM 5,1 6,2 8,2 5 4,3
Swap Adj. NIM, Quarterly 5,1 7,2 11,1 5 3,8
CIR (1) 23,5 18,4 19 40,3 32
CIR, Quarterly 23,5 16,4 19,4 40,3 26,4
(%)          
Total LDR (2) 88 80 82 80 74
TL (2) 133 122 106 96 87
FX 53 47 51 54 56
Leverage (x) 9,4 9,6 7,5 8,2 9
Asset Quality(%)          
NPL Ratio 4 3,5 2,8 2,5 2,1
Stage 3 Coverage 65,7 68,2 67,6 69,7 70,1
Stage 2/Total Gross Loans 8,7 7,8 6,6 6,1 6,6
Stage 2 Coverage 14,3 15,5 16,4 18,5 18,5
Net CoC 1,07 0,85 0,81 1,35 1,64
Net CoC, Quarterly 1,07 0,65 0,89 1,35 1,91
Net CoC (excl. Currency) 0,72 0,51 0,54 1,25 1,14
Net CoC(excl. Currency), Quarterly 0,72 0,32 0,66 1,25 1,05
Solvency (3) (%)          
CAR 17,7 18 20,9 18,4 17,1
CET-1 14,4 14,7 17,9 15,6 14,9
Tier-1 14,4 14,7 17,9 15,6 14,9

(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 2021 average FX rate for 1Q22; fixing MtM losses of securities & FX rate for RWA calculation to 2021YE FX rate for 1H22 and 2022; fixing MtM losses of securities & FX rate for RWA calculation to 2022YE FX rate for 1Q23 and 1H23

Balance Sheet Highlights

  2022 1H23 YtD (%)
Consolidated (TL mn)      
Cash and due from Banks 167,376 257,346 54
Securities 280,542 351,888 25
TL 183,659 212,720 16
FX (USD) 5,181 5,389 4
Loans (net) 594,203 755,147 27
TL 393,861 482,932 23
FX (USD) 10,714 10,542 (2)
Other 105,173 162,472 54
Total Assets 1,147,294 1,526,853 33
Deposits 721,562 1,005,970 39
TL 370,274 559,788 51
FX (USD) 18,787 17,278 (8)
Funds Borrowed and Bonds Issued 117,681 140,341 19
Repo 62,524 112,457 80
Other 91,920 98,539 7
Equity 153,606 169,547 10
Total Liabilities and S/H Equity 1,147,294 1,526,853 33

Income Statement Highlights

Consolidated (TL mn) 1Q23 2Q23 QoQ(%) 1H22 1H23 YoY(%)
Net Interest Income incl. swap cost 13,756 11,997 (13) 24,449 25,753 5
NII 13,740 11,375 (17) 28,306 25,115 (11)
o/w CPI-linker income 9,792 11,925 22 15,170 21,717 43
Swap Cost 16 622 - (3,857) 638 -
Fees and Commissions (Net) 5,033 6,738 34 4,627 11,771 154
Net Trading Gain (Loss) 6,465 20,557 218 12,862 27,021 110
LYY hedge gain/ (loss) - - - 3,462 - -
ECL hedge gain/ (loss) 166 1,559 239 760 1,725 127
Other 6,299 18,998 202 8,640 25,296 193
Other Income 424 216 (49) 625 640 2
Operating Expense (10,267) (10,027) (2) (7,659) (20,294) 165
Pre- Provision Income 15,411 29,480 91 34,904 44,891 29
Provision for Loan Losses, net of collections (2,171) (3,471) 60 (1,903) (5,643) 197
Stage 1+2 (net) (1,885) (1,687) (10) (656) (3,572) 445
Stage 3 (1,151) (929) (19) (1,977) (2,080) 5
Stage 3 Recoveries 1,030 704 (32) 1,490 1,734 16
Currency Impact (fully hedged) (166) (1,559) 839 (760) (1,725) 127
Other Provisions (154) (289) 88 (4,387) (443) (90)
LYY MtM gain/ (loss) - - - (3,464) - -
Free Provisions - - - - - -
Other (154) (289) 88 (923) (443) (52)
Income Before Tax 13,086 25,723 97 28,615 38,809 36
Tax (2,375) (5,416) 128 (7,458) (7,791) 4
Net Income 10,711 20,307 90 21,157 31,018 47
 
 
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