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) |