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Consolidated financial highlights 

Snapshot of Results

Profitability(%) 1H21 9M21 2021 1H22 9M22
ROE 12,8 14,9 17,9 47,1 51,5
ROE, Quarterly 12,9 18,7 26,2 54,2 59,6
ROA 1,6 1,8 2,1 4,9 5,6
ROA, Quarterly 1,6 2,3 2,8 5,7 6,7
Swap Adj. NIM 2,71 2,96 3,23 6,16 7,09
Swap Adj. NIM, Quarterly 2,92 3,44 4,04 7,16 8,63
CIR (1) 39,8 38,1 34,8 18,4 18,2
CIR, Quarterly 39,6 35,4 29,6 16,4 18
(%)          
Total LDR (2) 94 93 86 80 81
TL (2) 147 139 142 122 119
FX 49 49 47 47 46
Leverage (x) 8 8,4 10 9,6 8,5
Asset Quality(%)          
NPL Ratio 5,5 5,2 4,5 3,5 3,3
Stage 3 Coverage 65,2 66,6 65,3 68,2 68,8
Stage 2/Total Gross Loans 11,1 9,6 9,9 7,8 7,5
Stage 2 Coverage 16,1 15,2 14 15,5 15,5
Net CoC 0,79 0,52 1,06 0,85 0,78
Net CoC, Quarterly 0,59  0,02 2,46 0,65 0,66
Net CoC (excl. Currency) 0,64 0,41 0,44 0,51 0,49
Net CoC(excl. Currency), Quarterly 0,37 (0.01) 0,53 0,32 0,45
Solvency (3) (%)          
CAR 20 19,4 17,2 18 19,3
CET-1 16 15,5 12,9 14,7 16,1
Tier-1 16 15,5 12,9 14,7 16,1

(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 2021 ; fixing MtM losses of securities & FX rate for RWA calculation to average FX rate in 2021 for 1Q22; fixing FX rate for RWA calculation to average last 12 month FX rate for 1H21; fixing FX rate for RWA calculation to 2021YE FX rate for 1H22 and 9M22

Balance Sheet Highlight

  2021 9M22 YtD (%)
Consolidated (TL mn)      
Cash and due from Banks 148,206 189,280 28
Securities 156,363 239,039 53
TL 80,501 140,263 74
FX (USD) 5,692 5,334 (6)
Loans (net) 378,053 539,245 43
TL 221,504 342,045 54
FX (USD) 11,745 10,649 (9)
Other 80,176 101,433 27
Total Assets 762,798 1,068,998 40
Deposits 453,551 668, 958 47
TL 151,449 282,267 86
FX (USD) 22,665 20,881 (8)
Funds Borrowed and Bonds Issued 108,982 137,788 26
Repo 64,637 49,239 (24)
Other 59,669 86,810 45
Equity 75,959 126,202 66
Total Liabilities and S/H Equity 762,798 1,068,998 40

Income Statement Highlights

Consolidated (TL mn) 2Q22 3Q22 QoQ(%) 9M21 9M22 YoY(%)
Net Interest Income incl. swap cost 15,038 20,085 34 11,047 44,534 303
NII 16,747 21,877 31 16,194 50,183 210
o/w CPI-linker income 9,579 14,228 49 5,564 29,399 428
Swap Cost (1,709) (1,792) 5 (5,146) (5,649) 10
Fees and Commissions (Net) 2,579 3,105 20 4,334 7,732 78
Net Trading Gain (Loss) 7,149 5,558 (22) 3,984 18,420 362
LYY hedge gain/ (loss) 1,835 - - 1,784 3,462 94
ECL hedge gain/ (loss) 394 270 (31) 236 1,030 337
Other 4,920 5,288 7 1,965 13,928 609
Other Income 349 363 4 405 987 144
Operating Expense (4,058) (5,157) 27 (6,691) (12,815) 92
Pre- Provision Income 21,058 23,955 14 13,079 58,859 350
Provision for Loan Losses, net of collections (780) (871) 12 (1,137) (2,774) 144
Stage 1+2 (net) (391) (320) (18) (371) (976) 163
Stage 3 (824) (684) (17) (1,753) (2,660) 52
Stage 3 Recoveries 829 402 (51) 1,223 1,892 55
Currency Impact (fully hedged) (394) (270) (31) (236) (1,030) 337
Other Provisions (2,328) (350) (85) (2,034) (4,737) 133
LYY MtM gain/ (loss) (1,946) - - (1,990) (3,464) 74
Free Provisions - - - - - -
Other (382) (350) (8) (45) (1,273) -
Income Before Tax 17,950 22,733 27 9,908 51,348 418
Tax (4,843) (5,677) 17 (2,564) (13,125) 412
Net Income 13,107 17,066 30 7,344 38,223 420
 
 
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