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Consolidated financial highlights 

Snapshot of Results

Profitability(%) 1Q22 1H22 9M22 2022 1Q23
ROE 38,6 47,1 51,5 54,7 27,9
ROE, Quarterly 38,6 54,2 59,6 62,3 27,9
ROA 4 4,9 5,6 6,2 3,6
ROA, Quarterly 4 5,7 6,7 7,9 3,6
Swap Adj. NIM 5,05 6,16 7,09 8,25 4,84
Swap Adj. NIM, Quarterly 5,05 7,16 8,63 11,12 4,84
CIR (1) 23,5 18,4 18,2 19 40,3
CIR, Quarterly 23,5 16,4 18 19,4 40,3
(%)          
Total LDR (2) 88 80 81 82 80
TL (2) 133 122 119 106 96
FX 53 47 46 51 54
Leverage (x) 9,4 9,6 8,5 7,5 8,2
Asset Quality(%)          
NPL Ratio 4 3,5 3,3 2,8 2,5
Stage 3 Coverage 65,7 68,2 68,8 67,6 69,7
Stage 2/Total Gross Loans 8,7 7,8 7,5 6,6 6,1
Stage 2 Coverage 14,3 15,5 15,5 16,4 18,5
Net CoC 1,07 0,85 0,78 0,81 1,35
Net CoC, Quarterly 1,07 0,65 0,66 0,89 1,35
Net CoC (excl. Currency) 0,72 0,51 0,49 0,54 1,25
Net CoC(excl. Currency), Quarterly 0,72 0,32 0,45 0,66 1,25
Solvency (3) (%)          
CAR 17,7 18 19,3 20,9 18,6
CET-1 14,4 14,7 16,1 17,9 15,7
Tier-1 14,4 14,7 16,1 17,9 15,7

(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 2021 average FX rate for 1Q22; 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 1Q23

Balance Sheet Highlights

  2022 1Q23 YtD (%)
Consolidated (TL mn)      
Cash and due from Banks 167,376 178,355 7
Securities 280,542 316,949 13
TL 183,659 214,025 17
FX (USD) 5,181 5,457 5
Loans (net) 594,203 653,340 10
TL 393,861 450,096 14
FX (USD) 10,714 10,777 1
Other 105,173 110,631 5
Total Assets 1,147,294 1,259,275 10
Deposits 721,562 819,227 14
TL 370,274 470,870 27
FX (USD) 18,787 18,471 (2)
Funds Borrowed and Bonds Issued 117,681 119,852 2
Repo 62,524 72,057 15
Other 91,920 94,398 3
Equity 153,606 153,741 -
Total Liabilities and S/H Equity 1,147,294 1,259,275 10

Income Statement Highlights

Consolidated (TL mn) 1Q22 2Q22 3Q22 4Q22 1Q23 QoQ(%) YoY(%)
Net Interest Income incl. swap cost 9,411 15,038 20,085 28,009 13,327 (52) 42
NII 11,559 16,747 21,877 28,901 13,740 (52) 19
o/w CPI-linker income 5,591 9,579 14,228 21,903 9,792 (55) 75
Swap Cost (2,148) (1,709) (1,792) (891) (413) (54) (81)
Fees and Commissions (Net) 2,048 2,579 3,105 4,156 5,033 21 146
Net Trading Gain (Loss) 5,712 7,149 5,558 4,925 6,894 40 21
LYY hedge gain/ (loss) 1,627 1,835 - - - - -
ECL hedge gain/ (loss) 366 394 270 340 166 (51) (55)
Other 3,720 4,920 5,288 4,585 6,728 47 81
Other Income 276 349 363 316 424 34 54
Operating Expense (3,600) (4,058) (5,157) (7,611) (10,267) 35 185
Pre- Provision Income 13,846 21,058 23,955 29,795 15,411 (48) 11
Provision for Loan Losses, net of collections (1,123) (780) (871) (1,300) (2,171) 67 93
Stage 1+2 (net) (265) (391) (320) (844) (1,885) 123 610
Stage 3 (1,153) (824) (684) (921) (1,151) 25 -
Stage 3 Recoveries 661 829 402 805 1,030 28 56
Currency Impact (fully hedged) (366) (394) (270) (340) (166) (51) (55)
Other Provisions (2,059) (2,328) (350) 428 (154) - (93)
LYY MtM gain/ (loss) (1,518) (1,946) - - - - -
Free Provisions - - - - - - -
Other (541) (382) (350) 428 (154) - (93)
Income Before Tax 10,664 17,950 22,733 28,923 13,086 (55) 23
Tax (2,615) (4,843) (5,677) (7,120) (2,375) (67) (9)
Net Income 8,049 13,107 17,066 21,803 10,711 (51) 33
 
 
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