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Consolidated financial highlights 

Snapshot of Results

(TL mn) 1Q19 4Q19 2019 1Q20 YoY QoQ
Total Assets 386,009 387,172 387,172 421,394 9% 9%
Loans (net) (1) 210,796 214,471 214,471 219,047 4% 2%
Deposits 228,080 244,712 244,712 270,780 19% 11%
Net Profit 1,408 1,325 5,352 1,303 (7%) (2%)
Net interest income 3,666 4,898 16,938 5,421 43% 7%
Net fee income 1,193 1,327 4,958 1,264 6% (5%)
(%)            
ROE 12.3 10.0 10.9 9.6 (2.7) (0.4)
ROA 1.5 1.4 1.4 1.3 (0.2) (0.1)
Leverage 8.1x 7.1x 7.1x 7.8x (0.3) 0.7
NIM 4.42 5.56 4.93 5.62 1.2 0.1
NIM after swap 3.74 4.71 4.14 4.83 1.1 0.1
Cost to Income (2) 33.4 29.7 32.9 33.8 0.3 4.1
CAR 16.2 19.7 19.7 18.8 2.6 (0.9)
Tier 1 13.8 16.9 16.9 16.0 2.2 (0.9).

(1)CIR calculation excludes FX gain from long FX position related with stage 1&2 provisions as well as insurance penalty of TL 71 mn
(2)1Q20 CAR & Tier 1 ratios exclude forbearances announced by BRSA in Mar ’20

Balance Sheet Highlights

        Shares (%) Shares (%) Shares (%)
(TL mn) 2018 2019 1Q20 2018 2019 1Q20
Cash and Due from Banks 49,618 47,901 67,170 14.0 12.4 15.9
Securities 56,782 83,602 89,494 16.0 21.6 21.2
Loans (net) (1) 201,332 214,471 219,047 56.8 55.4 52.0
Other 46,950 41,199 45,684 13.2 10.6 10.9
Total Assets 354,682 387,172 421,394      
Deposits 208,630 244,712 270,780 58.8 63.2 64.3
Funds Borrowed and Bonds Issue 61,506 53,755 53,458 17.3 13.9 12.7
Repo 14,275 10,107 17,874 4.0 2.6 4.2
- TL Repo 3,918 763 6,831 1.1 0.2 1.6
- FX Repo 10,357 9,343 11,043 2.9 2.4 2.6
Other 26,484 24,236 25,375 7.6 6.3 6.0
Equity 43,787 54,362 53,906 12.3 14.0 12.8
Total Liabilities and S/H Equity 354,682 387,172 421,394      

(1)For comparability, 2018 total loan figure excludes leasing receivables and adjusted for financial assets measured at fair value through P&L

Income Statement Highlights

Consolidated (TL mn) 1Q19 4Q19 2019 1Q20 QoQ (%) YoY (%)
Interest Income 9,198 8.617 36,498 8,460 (1.8) (8.0)
Interest Expense (5,533) (3.720) (19,560) (3,219) (13.4) (41.8)
Net Interest Income 3,666 4.898 16,938 5,241 7.0 43.0
(-) Total Swap Expense (530) (746) (2,697) (738) (1.1) (39.1)
Swap Adjusted NII 3,135 4.152 14,241 4,503 8.5 43.6
Trading Gain (Loss) 731 488 1,551 252 (48.4) (65.5)
- FX Gain (Loss) from Long Position 89 109 50 186 71.1 -
- Securities 64 121 296 (22) - -
- Other 578 258 1,205 88 (65.9) (84.8)
Expected Credit Loss (1,046) (2.411) (5,975) (1,099) (54.4) (5.1)
Fees and Commissions (Net) 1,193 1.327 4,958 1,264 (4.8) 6.0
Operating Expense (1,679) (1.790) (6,882) (2,055) 14.8 22.4
Other Income 54 67 224 76 13.3 40.5
Other Provisions (538) (116) (1,190) (1,167) - -
- LYY MtM Loss (387) (249) (939) (871) - -
- Free Provisions (100) - (100) (250) - -
- Other (51) 133 (151) (46) - (9.2)
Income Before Tax 1,850 1.717 6,927 1,774 3.3 (4.1)
Tax (442) (392) (1,574) (471) 20.1 6.6
Net Income 1,408 1.325 5,352 1,303 (1.7) (7.5)



 

 
 
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