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Consolidated financial highlights 

Snapshot of Results

Profitability (%) 1Q21 1H21 9M21 2021 1Q22
ROE 12,9 12,8 14,9 17,9 38,6
   ROE, Quarterly 12,9 12,9 18,7 26,2 38,6
ROA 1,6 1,6 1,8 2,1 4
   ROA, Quarterly 1,6 1,6 2,3 2,8 4
Swap Adj. NIM 2,48 2,71 2,96 3,23 5,05
   Swap Adj. NIM, Quarterly 2,48 2,92 3,44 4,04 5,05
CIR (1) 40 39,8 38,1 34,8 23,5
   CIR, Quarterly 40 39,6 35,4 29,6 23,5
(%)          
Total LDR (2) 95 94 93 86 88
   TL (2) 147 147 139 142 133
   FX 51 49 49 47 53
Leverage (x) 8,2 8 8,4 10 9,4
Asset Quality(%)   5,5 5,2    
NPL Ratio 5,8     4,5 4
Stage 3 Coverage 63,7 65,2 66,6 65,3 65,7
Stage 2/Total Gross Loans 9,5 11,1 9,6 9,9 8,7
Stage 2 Coverage 16,8 16,1 15,2 14 14,3
Net CoC 1,01 0,79 0,52 1,06 1,07
   Net CoC, Quarterly 1,01 0,59 0,02 2,46 1,07
Net CoC (excl. Currency) 0,92 0,64 0,41 0,44 0,72
   Net CoC(excl. Currency), Quarterly 0,92 0,37 (0.01) 0,53 0,72
Solvency (3) (%)          
CAR 18,5 20 19,4 17,2 17,7
CET-1 15,5 16 15,5 12,9 14,4
Tier-1 15,5 16 15,5 12,9 14,4

(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 and 9M2

Balance Sheet Highlight

  2021 1Q22 YtD (%)
Consolidated (TL mn)      
Cash and due from Banks 148,206 146,316 (1)
Securities 156,363 181,667 16
   TL 80,501 96,228 20
   FX (USD) 5,692 5,837 3
Loans (net) 378,053 442,522 17
   TL 221,504 263,527 19
   FX (USD) 11,745 12,229 4
Other 80,176 79,978 -
Total Assets 762,798 850,483 11
Deposits 453,551 514,981 14
   TL 151,449 197,767 31
   FX (USD) 22,665 21,672 (4)
Funds Borrowed and Bonds Issued 108,982 107,172 (2)
Repo 64,637 67,949 5
Other 59,669 69,710 17
Equity 75,959 90,671 19
Total Liabilities and S/H Equity 762,798 850,483 11

Income Statement Highlights

Consolidated (TL mn) 1Q21 2Q21 3Q21 4Q21 1Q22 QoQ(%) YoY(%)
Net Interest Income incl. swap cost 2,872 3,604 4,571 6,369 9,411 48 228
  NII 4,193 5,337 6,664 8,155 11,559 42 176
    o/w CPI-linker income 1,088 1,728 2,748 3,140 5,591 78 414
  Swap Cost (1,321) (1,733) (2,092) (1,786) (2,148) 20 63
Fees and Commissions (Net) 1,462 1,348 1,524 1,745 2,048 17 40
Net Trading Gain (Loss) 1,941 1,259 785 9,763 5,712 (41) 194
  LYY hedge gain/ (loss) 1,105 436 243 5,468 1,627 (70) 47
  ECL hedge gain/ (loss) 62 154 20 1,699 366 (78) 493
  Other 774 669 522 2,597 3,720 43 381
Other Income 267 59 79 169 276 63 3
Operating Expense (2,087) (2,240) (2,364) (3,215) (3,600) 12 73
Pre- Provision Income 4,455 4,029 4,595 14,831 13,846 (7) 211
Provision for Loan Losses, net of collections (697) (427) (14) (2,168) (1,123) (48) 61
  Stage 1+2 (net) (515) (185) 329 967 (265) - (48)
  Stage 3 (621) (517) (615) (1,917) (1,153) (40) 86
  Stage 3 Recoveries 500 430 293 481 661 37 32
  Currency Impact (fully hedged) (62) (154) (20) (1,699) (366) (78) 493
Other Provisions (1,201) (559) (274) (5,930) (2,059) (65) 71
  LYY MtM gain/ (loss) (1,203) (548) (239) (5,537) (1,518) (73) 26
  Free Provisions - - - (250) - - -
  Other 2 (11) (35) (144) (541) 277 -
Income Before Tax 2,557 3,043 4,307 6,733 10,664 58 317
Tax (529) (937) (1,098) (1,949) (2,615) 34 395
Net Income 2,028 2,106 3,209 4,784 8,049 68 297
 
 
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