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Consolidated financial highlights 

Snapshot of Results

Profitability (%) 1Q19 1H19 2019 1Q20 1H20
ROE 12,3 11,4 10,9 9,6 10,4
ROE, Quarterly 12,3 10,4 10,0 9,6 11,4
ROA 1,5 1,4 1,4 1,3 1,4
ROA, Quarterly 1,5 1,3 1,4 1,3 1,5
Swap Adj. NIM 3,74 3,86 4,14 4,83 4,63
Swap Adj. NIM, Quarterly 3,74 3,91 4,71 4,83 4,42
CIR (1) 33,4 33,8 32,9 33,8 31,6
CIR, Quarterly 33,4 34,2 29,7 33,8 29,6
(%)          
Total LDR (2) 95 95 91 84 98
TL (3) 142 139 137 126 138
FX 57 59 51 48 54
Leverage (x) 8,1 7,6 7,1 7,8 7,7
Asset Quality (%)          
NPL Ratio 4,1 4,5 6,6 6,7 6,2
NPL Coverage 58,1 59,2 56,2 58,8 61,5
Stage 2/ Total Gross Loans 14,0 14,2 13,3 12,2 11,9
Stage 2 Coverage 10,1 11,5 11,1 11,8 15,1
Solvency (4) (%)          
CAR 16,2 17,7 19,7 18,8 19,0
CET-1 13,8 15,0 16,9 16,0 16,1
Tier-1 13,8 15,0 16,9 16,0 16,1

(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) Bank-only
(3) TL LDR includes domestic TL bond issuances and merchant payables
(4) 2020 CAR & Tier 1 ratios exclude forbearances announced by BRSA in 2020

Balance Sheet Highlights

  2019 1Q20 1H20 QoQ (%) YtD (%)
Consolidated (TL mn)          
Cash and due from Banks 47.901 67.170 57.107 (15) 19
Securities 83.635 89.552 100.108 12 20
TL 48.213 51.143 66.532 30 38
FX (USD) 5.983 5.873 4.907 (16) (18)
Loans (net) 214.471 219.047 238.540 9 11
TL 133.307 133.841 153.489 15 15
FX (USD) 13.710 13.028 12.429 (5) (9)
Other 41.165 45.625 47.929 5 16
Total Assets 387.172 421.394 443.684 5 15
Deposits 244.712 270.780 259.245 (4) 6
TL 95.854 105.971 104.488 (1) 9
FX (USD) 25.145 25.200 22.615 (10) (10)
Funds Borrowed and Bonds Issued 53.755 53.458 62.734 17 17
Repo 10.107 17.874 34.326 92 240
Other 24.236 25.375 29.861 18 23
Equity 54.362 53.906 57.518 7 6
Total Liabilities and S/H Equity 387.172 421.394 443.684 5 15

Income Statement Highlights

Consolidated (TL mn) 1Q20 2Q20 QoQ(%) 1H19 1H20 YoY(%)
Net Interest Income incl. swap cost 4.503 4.403 (2) 6.523 8.906 37
NII 5.241 4.993 (5) 7.710 10.234 33
Swap Cost (738) (590) (20) (1.187) (1.328) 12
Fees and Commissions (Net) 1.264 998 (21) 2.403 2.262 (6)
Trading Gain (Loss) 252 893 254 989 1.145 16
FX Gain (Loss) from Long Position 186 130 (30) 37 315 750
Securities (22) 314 - 79 292 271
Other 88 449 404 873 538 (38)
Other Income 76 67 (12) 92 143 55
Operating Expense (2.055) (1.843) (10) (3.368) (3.898) 16
Pre- Provision Income 4.040 4.518 12 6.639 8.558 29
Provision for Loan Losses, net of collections (1.099) (1.837) 67 (2.223) (2.936) 32
Stage 1+2 (net) (90) (1.195) 1.222 (812) (1.286) 58
Stage 3 (1.141) (680) (40) (1.674) (1.822) 9
Stage 3 Recoveries 318 169 (47) 300 486 62
Currency Impact (fully hedged) (186) (130) (30) (37) (315) 750
Other Provisions (1.167) (594) (49) (961) (1.761) 83
LYY MtM Loss (871) (412) (53) (628) (1.283) 104
Free Provisions (250) - - (100) (250) 150
Other (1) (46) (181) 293 (233) (228) (2)
Income Before Tax 1.774 2.087 18 3.455 3.861 12
Tax (471) (504) 7 (789) (975) 24
Net Income 1.303 1.583 21 2.667 2.885 8

(1)  1H20 and 2Q20 figures include provisions for latest BRSA penalty (Public disclosure: https://www.kap.org.tr/en/Bildirim/859885

 
 
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