Snapshot of Results
| Profitability(%) |
1H22 |
9M22 |
2022 |
1H23 |
9M23 |
| ROE |
47,1 |
51,5 |
54,7 |
39 |
41,2 |
| ROE, Quarterly |
54,2 |
59,6 |
62,3 |
50,3 |
45,5 |
| ROA |
4,9 |
5,6 |
6,2 |
4,7 |
4,9 |
| ROA, Quarterly |
5,7 |
6,7 |
7,9 |
5,8 |
5 |
| Swap Adj. NIM |
6,2 |
7,1 |
8,2 |
4,3 |
5,3 |
| Swap Adj. NIM, Quarterly |
7,2 |
8,6 |
11,1 |
3,8 |
6,8 |
| CIR (1) |
18,4 |
18,2 |
19 |
32 |
30 |
| CIR, Quarterly |
16,4 |
18 |
19,4 |
26,4 |
27,3 |
| (%) |
|
|
|
|
|
| Total LDR (2) |
80 |
81 |
82 |
74 |
73 |
| TL (2) |
122 |
119 |
106 |
87 |
85 |
| FX |
47 |
46 |
51 |
56 |
55 |
| Leverage (x) |
9,6 |
8,5 |
7,5 |
9 |
9 |
| Asset Quality(%) |
|
|
|
|
|
| NPL Ratio |
3,5 |
3,3 |
2,8 |
2,1 |
2 |
| Stage 3 Coverage |
68,2 |
68,8 |
67,6 |
70,1 |
70,7 |
| Stage 2/Total Gross Loans |
7,8 |
7,5 |
6,6 |
6,6 |
7 |
| Stage 2 Coverage |
15,5 |
15,5 |
16,4 |
18,5 |
17,1 |
| Net CoC |
0,85 |
0,78 |
0,81 |
1,64 |
1,42 |
| Net CoC, Quarterly |
0,65 |
0,66 |
0,89 |
1,91 |
1,06 |
| Net CoC (excl. Currency) |
0,51 |
0,49 |
0,54 |
1,14 |
1,07 |
| Net CoC(excl. Currency), Quarterly |
0,32 |
0,45 |
0,66 |
1,05 |
0,94 |
| Solvency (3) (%) |
|
|
|
|
|
| CAR |
18 |
19,3 |
20,9 |
17,1 |
18,4 |
| CET-1 |
14,7 |
16,1 |
17,9 |
14,9 |
15,5 |
| Tier-1 |
14,7 |
16,1 |
17,9 |
14,9 |
15,5 |
(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 1H22, 9M22 and 2022; fixing MtM losses of securities & FX rate for RWA calculation to 2022YE FX rate for 1H23 and 9M2
Balance Sheet Highlights
| |
2022 |
9M23 |
YtD (%) |
| Consolidated (TL mn) |
|
|
|
| Cash and due from Banks |
167,376 |
303,350 |
81 |
| Securities |
280,542 |
421,867 |
50 |
| TL |
183,659 |
277,265 |
51 |
| FX (USD) |
5,181 |
5,282 |
2 |
| Loans (net) |
594,203 |
841,499 |
42 |
| TL |
393,861 |
559,398 |
42 |
| FX (USD) |
10,714 |
10,304 |
(4) |
| Other |
105,173 |
149,956 |
43 |
| Total Assets |
1,147,294 |
1,716,672 |
50 |
| Deposits |
721,562 |
1,133,736 |
57 |
| TL |
370,274 |
653,652 |
77 |
| FX (USD) |
18,787 |
17,536 |
(7) |
| Funds Borrowed and Bonds Issued |
117,681 |
158,708 |
35 |
| Repo |
62,524 |
120,361 |
93 |
| Other |
91,920 |
113,829 |
24 |
| Equity |
153,606 |
190,039 |
24 |
| Total Liabilities and S/H Equity |
1,147,294 |
1,716,672 |
50 |
Income Statement Highlights
| Consolidated (TL mn) |
2Q23 |
3Q23 |
QoQ(%) |
9M22 |
9M23 |
YoY(%) |
| Net Interest Income incl. swap cost |
11,997 |
24,971 |
108 |
44,534 |
50,724 |
14 |
| NII |
11,375 |
24,731 |
117 |
50,183 |
49,846 |
(1) |
| o/w CPI-linker income |
11,925 |
24,131 |
102 |
29,399 |
45,848 |
56 |
| Swap Cost |
622 |
240 |
(61) |
(5,649) |
878 |
(116) |
| Fees and Commissions (Net) |
6,738 |
10,209 |
52 |
7,732 |
21,980 |
184 |
| Net Trading Gain (Loss) |
20,557 |
10,181 |
(50) |
18,420 |
37,202 |
102 |
| LYY hedge gain/ (loss) |
- |
- |
- |
3,462 |
- |
- |
| ECL hedge gain/ (loss) |
1,559 |
240 |
(85) |
1,030 |
1,965 |
91 |
| Other |
18,998 |
9,941 |
(48) |
13,928 |
35,237 |
153 |
| Other Income |
216 |
307 |
42 |
987 |
946 |
(4) |
| Operating Expense |
(10,027) |
(12,394) |
24 |
(12,815) |
(32,688) |
155 |
| Pre- Provision Income |
29,480 |
33,272 |
13 |
58,859 |
78,164 |
33 |
| Provision for Loan Losses, net of collections |
(3,471) |
(2,190) |
(37) |
(2,774) |
(7,833) |
182 |
| Stage 1+2 (net) |
(1,687) |
(1,523) |
(10) |
(976) |
(5,095) |
422 |
| Stage 3 |
(929) |
(921) |
(1) |
(2,660) |
(3,001) |
13 |
| Stage 3 Recoveries |
704 |
494 |
(30) |
1,892 |
2,228 |
18 |
| Currency Impact (fully hedged) |
(1,559) |
(240) |
(85) |
(1,030) |
(1,965) |
91 |
| Other Provisions |
(289) |
(308) |
6 |
(4,737) |
(751) |
(84) |
| LYY MtM gain/ (loss) |
- |
- |
- |
(3,464) |
- |
- |
| Free Provisions |
- |
- |
- |
- |
- |
- |
| Other |
(289) |
(308) |
6 |
(1,273) |
(751) |
(41) |
| Income Before Tax |
25,723 |
30,778 |
20 |
51,348 |
69,588 |
36 |
| Tax |
(5,416) |
(10,328) |
91 |
(13,125) |
(18,119) |
38 |
| Net Income |
20,307 |
20,450 |
1 |
38,223 |
51,469 |
35 |