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 |