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Consolidated financial highlights 

Snapshot of Results

Profitability(%) 1Q21 1H21 2021 1Q22 1H22
ROE 12,9 12,8 17,9 38,6 47,1
ROE, Quarterly 12,9 12,9 26,2 38,6 54,2
ROA 1,6 1,6 2,1 4 4,9
ROA, Quarterly 1,6 1,6 2,8 4 5,7
Swap Adj. NIM 2,48 2,71 3,23 5,05 6,16
Swap Adj. NIM, Quarterly 2,48 2,92 4,04 5,05 7,16
CIR (1) 40 39,8 34,8 23,5 18,4
CIR, Quarterly 40 39,6 29,6 23,5 16,4
(%)          
Total LDR (2) 95 94 86 88 80
TL (2) 147 147 142 133 122
FX 51 49 47 53 47
Leverage (x) 8,2 8 10 9,4 9,6
Asset Quality(%)   5,5      
NPL Ratio 5,8 65,2 4,5 4 3,5
Stage 3 Coverage 63,7 11,1 65,3 65,7 68,2
Stage 2/Total Gross Loans 9,5 16,1 9,9 8,7 7,8
Stage 2 Coverage 16,8 0,79 14 14,3 15,5
Net CoC 1,01 0,59 1,06 1,07 0,85
Net CoC, Quarterly 1,01 0,64 2,46 1,07 0,65
Net CoC (excl. Currency) 0,92   0,44 0,72 0,51
Net CoC(excl. Currency), Quarterly 0,92 0,37 0,53 0,72 0,32
Solvency (3) (%)          
CAR 18,5 20 17,2 17,7 18
CET-1 15,5 16 12,9 14,4 14,7
Tier-1 15,5 16 12,9 14,4 14,7

(1) CIR calculation excludes FX gain from hedge position related with stage 1&2 provisions and LYY exposure
(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 average last 12 month FX rate for 1Q21 & 2021 ; for 1Q22 Fixing MtM losses of securities & FX rate for RWA calculation to average FX rate in 2021 ; fixing FX rate for RWA calculation to average last 12 month FX rate for 1H21; for 1H22 Fixing MtM losses of securities & FX rate for RWA calculation to YE FX rate in 2021

Balance Sheet Highlight

  2021 1H22 YtD (%)
Consolidated (TL mn)      
Cash and due from Banks 148,206 183,821 24
Securities 156,363 207,955 33
TL 80,501 111,078 38
FX (USD) 5,692 5,814 2
Loans (net) 378,053 496,053 31
TL 221,504 308,686 39
FX (USD) 11,745 11,246 (4)
Other 80,176 93, 472 17
Total Assets 762,798 981,302 29
Deposits 453,551 621, 525 37
TL 151,449 250,529 65
FX (USD) 22,665 22,267 (2)
Funds Borrowed and Bonds Issued 108,982 123,940 14
Repo 64,637 54,594 (16)
Other 59,669 78,510 32
Equity 75,959 102,733 35
Total Liabilities and S/H Equity 762,798 981,302 29

Income Statement Highlights

Consolidated (TL mn) 1Q22 2Q22 QoQ(%) 1H21 1H22 YoY(%)
Net Interest Income incl. swap cost 9,411 15,038 60 6,476 24,449 278
NII 11,559 16,747 45 9,530 28,306 197
o/w CPI-linker income 5,591 9,579 71 2,816 15,170 439
Swap Cost (2,148) (1,709) (20) (3,054) (3,857) 26
Fees and Commissions (Net) 2,048 2,579 26 2,810 4,627 65
Net Trading Gain (Loss) 5,712 7,149 25 3,199 12,862 302
LYY hedge gain/ (loss) 1,627 1,835 13 1,541 3,462 125
ECL hedge gain/ (loss) 366 394 8 216 760 252
Other 3,720 4,920 32 1,443 8,640 499
Other Income 276 349 27 326 625 92
Operating Expense (3,600) (4,058) 13 (4,327) (7,659) 77
Pre- Provision Income 13,846 21,058 52 8,484 34,904 311
Provision for Loan Losses, net of collections (1,123) (780) (31) (1,123) (1,903) 69
Stage 1+2 (net) (265) (391) 47 (700) (656) (6)
Stage 3 (1,153) (824) (29) (1,138) (1,977) 74
Stage 3 Recoveries 661 829 25 930 1,490 60
Currency Impact (fully hedged) (366) (394) 8 (216) (760) 252
Other Provisions (2,059) (2,328) 13 (1,761) (4,387) 149
LYY MtM gain/ (loss) (1,518) (1,946) 28 (1,751) (3,464) 98
Free Provisions - - - - - -
Other (541) (382) (29) (10) (923) -
Income Before Tax 10,664 17,950 68 5,600 28,615 411
Tax (2,615) (4,843) 85 (1,466) (7,458) 409
Net Income 8,049 13,107 63 4,134 21,157 412
 
 
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