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Consolidated financial highlights 

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
 
 
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