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Consolidated financial highlights 

Snapshot of Results

Profitability (%) 1Q20 1H20 2020 1Q21 1H21
ROE 9.6 10.4 10.9 12.9 12.8
ROE. Quarterly 9.6 11.4 12.1 12.9 12.9
ROA 1.3 1.4 1.4 1.6 1.6
ROA. Quarterly 1.3 1.5 1.5 1.6 1.6
Swap Adj. NIM 4.83 4.63 4.12 2.40 2.58
Swap Adj. NIM. Quarterly 4.83 4.42 3.61 2.40 2.74
CIR (1) 33.8 31.6 33.8 40.0 39.8
CIR. Quarterly 33.8 29.6 38.5 40.0 39.6
(%)          
Total LDR (2) 84 98 94 95 94
TL (2) 126 138 153 147 147
FX 48 54 47 51 49
Leverage (x) 7.8 7.7 7.6 8.2 8.0
Asset Quality (%)          
NPL Ratio 6.7 6.2 6.2 5.8 5.5
Stage 3 Coverage 58.8 61.5 62.4 63.7 65.2
Stage 2/ Total Gross Loans 12.2 11.9 9.4 9.5 11.1
Stage 2 Coverage 11.8 15.1 16.4 16.8 16.1
Net CoC 2.01 2.59 2.27 1.01 0.79
Net CoC. Quarterly 2.01 3.17 1.06 1.01 0.59
Solvency (3) (%)          
CAR 18.8 20.4 19.8 18.5 20.0
CET-1 16.0 17.4 16.9 15.5 16.0
Tier-1 16.0 17.4 16.9 15.5 16.0

(1) CIR calculation excludes FX gain from long FX position related with stage 1&2 provisions and LYY hedge. The calculation excludes insurance penalty of TL 71 mn for 1Q20, 1H20 & also BRSA penalty of TL 117 mn for 2020
(2) Bank-only, TL LDR includes domestic TL bond issuances and merchant payables
(3) ) w/o forbearances: For 2Q21, fixing FX rate for RWA calculation to average last 12 month FX rate. For 1Q21 & 2020, fixing MtM losses of securities & FX rate for RWA calculation to average last 12 month FX rate & for 1Q20 & 1H20 to YE 2019

Balance Sheet Highlights

  2020 1Q21 1H21 QoQ (%) YtD (%)
Consolidated (TL mn)          
Cash and due from Banks 60,576 76,323 84,320 10 39
Securities 101,926 106,843 115,052 8 13
TL 59,540 62,336 62,774 1 5
FX (USD) 5,713 5,346 6,023 13 5
Loans (net) 262,658 281,814 289,481 3 10
TL 170,310 175,986 182,585 4 7
FX (USD) 12,447 12,711 12,315 (3) (1)
Other 53,157 52,310 48,986 (6) (8)
Total Assets 478,317 517,290 537,839 4 12
Deposits 292,519 310,008 326,905 5 12
TL 108,362 118,963 122,693 3 13
FX (USD) 24,821 22,946 23,526 3 (5)
Funds Borrowed and Bonds Issued 66,287 70,962 76,488 8 15
Repo 20,907 37,029 32,111 (13) 54
Other 35,679 36,253 35,024 (3) (2)
Equity 62,924 63,038 67,311 7 7
Total Liabilities and S/H Equity 478,317 517,290 537,839 4 12

Income Statement Highlights

Consolidated (TL mn) 1Q21 2Q21 QoQ(%) 1H20 1H21 YoY(%)
Net Interest Income incl. swap cost 2,782 3,383 22 8,906 6,165 (31)
NII 4,193 5,337 27 10,234 9,530 (7)
o/w CPI-linker income 1,088 1,728 59 1,388 2,816 103
Swap Cost (1,411) (1,954) 39 (1,328) (3,365) 153
Fees and Commissions (Net) 1,462 1,348 (8) 2,262 2,810 24
Net Trading Gain (Loss) 2,031 1,480 (27) 1,145 3,511 207
LYY hedge gain/ (loss) 1,105 436 (61) - 1,541 -
ECL hedge gain/ (loss) 62 154 150 315 216 (31)
Other 864 890 3 830 1,754 111
Other Income 267 59 (78) 143 326 128
Operating Expense (2,087) (2,240) 7 (3,898) (4,327) 11
Pre- Provision Income 4,455 4,029 (10) 8,558 8,484 (1)
Provision for Loan Losses, net of collections (697) (427) (39) (2,936) (1,123) (62)
Stage 1+2 (net) (515) (185) (64) (1,286) (700) (46)
Stage 3 (621) (517) (17) (1,822) (1,138) (38)
Stage 3 Recoveries 500 430 (14) 486 930 91
Currency Impact (fully hedged) (62) (154) 150 (315) (216) (31)
Other Provisions (1,201) (559) (53) (1,761) (1,761) -
LYY MtM gain/ (loss) (1,203) (548) (54) (1,283) (1,751) 36
Free Provisions - - - (250) - -
Other 2 (11) - (228) (10) -
Income Before Tax 2,557 3,043 19 3,861 5,600 45
Tax (529) (937) 77 (975) (1,466) 50
Net Income 2,028 2,106 4 2,885 4,134 43
 
 
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