Snapshot of Results
| Profitability(%) |
1Q22 |
1H22 |
2022 |
1Q23 |
1H23 |
| ROE |
38,6 |
47,1 |
54,7 |
27,9 |
39 |
| ROE, Quarterly |
38,6 |
54,2 |
62,3 |
27,9 |
50,3 |
| ROA |
4 |
4,9 |
6,2 |
3,6 |
4,7 |
| ROA, Quarterly |
4 |
5,7 |
7,9 |
3,6 |
5,8 |
| Swap Adj. NIM |
5,1 |
6,2 |
8,2 |
5 |
4,3 |
| Swap Adj. NIM, Quarterly |
5,1 |
7,2 |
11,1 |
5 |
3,8 |
| CIR (1) |
23,5 |
18,4 |
19 |
40,3 |
32 |
| CIR, Quarterly |
23,5 |
16,4 |
19,4 |
40,3 |
26,4 |
| (%) |
|
|
|
|
|
| Total LDR (2) |
88 |
80 |
82 |
80 |
74 |
| TL (2) |
133 |
122 |
106 |
96 |
87 |
| FX |
53 |
47 |
51 |
54 |
56 |
| Leverage (x) |
9,4 |
9,6 |
7,5 |
8,2 |
9 |
| Asset Quality(%) |
|
|
|
|
|
| NPL Ratio |
4 |
3,5 |
2,8 |
2,5 |
2,1 |
| Stage 3 Coverage |
65,7 |
68,2 |
67,6 |
69,7 |
70,1 |
| Stage 2/Total Gross Loans |
8,7 |
7,8 |
6,6 |
6,1 |
6,6 |
| Stage 2 Coverage |
14,3 |
15,5 |
16,4 |
18,5 |
18,5 |
| Net CoC |
1,07 |
0,85 |
0,81 |
1,35 |
1,64 |
| Net CoC, Quarterly |
1,07 |
0,65 |
0,89 |
1,35 |
1,91 |
| Net CoC (excl. Currency) |
0,72 |
0,51 |
0,54 |
1,25 |
1,14 |
| Net CoC(excl. Currency), Quarterly |
0,72 |
0,32 |
0,66 |
1,25 |
1,05 |
| Solvency (3) (%) |
|
|
|
|
|
| CAR |
17,7 |
18 |
20,9 |
18,4 |
17,1 |
| CET-1 |
14,4 |
14,7 |
17,9 |
15,6 |
14,9 |
| Tier-1 |
14,4 |
14,7 |
17,9 |
15,6 |
14,9 |
(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 and 2022; fixing MtM losses of securities & FX rate for RWA calculation to 2022YE FX rate for 1Q23 and 1H23
Balance Sheet Highlights
| |
2022 |
1H23 |
YtD (%) |
| Consolidated (TL mn) |
|
|
|
| Cash and due from Banks |
167,376 |
257,346 |
54 |
| Securities |
280,542 |
351,888 |
25 |
| TL |
183,659 |
212,720 |
16 |
| FX (USD) |
5,181 |
5,389 |
4 |
| Loans (net) |
594,203 |
755,147 |
27 |
| TL |
393,861 |
482,932 |
23 |
| FX (USD) |
10,714 |
10,542 |
(2) |
| Other |
105,173 |
162,472 |
54 |
| Total Assets |
1,147,294 |
1,526,853 |
33 |
| Deposits |
721,562 |
1,005,970 |
39 |
| TL |
370,274 |
559,788 |
51 |
| FX (USD) |
18,787 |
17,278 |
(8) |
| Funds Borrowed and Bonds Issued |
117,681 |
140,341 |
19 |
| Repo |
62,524 |
112,457 |
80 |
| Other |
91,920 |
98,539 |
7 |
| Equity |
153,606 |
169,547 |
10 |
| Total Liabilities and S/H Equity |
1,147,294 |
1,526,853 |
33 |
Income Statement Highlights
| Consolidated (TL mn) |
1Q23 |
2Q23 |
QoQ(%) |
1H22 |
1H23 |
YoY(%) |
| Net Interest Income incl. swap cost |
13,756 |
11,997 |
(13) |
24,449 |
25,753 |
5 |
| NII |
13,740 |
11,375 |
(17) |
28,306 |
25,115 |
(11) |
| o/w CPI-linker income |
9,792 |
11,925 |
22 |
15,170 |
21,717 |
43 |
| Swap Cost |
16 |
622 |
- |
(3,857) |
638 |
- |
| Fees and Commissions (Net) |
5,033 |
6,738 |
34 |
4,627 |
11,771 |
154 |
| Net Trading Gain (Loss) |
6,465 |
20,557 |
218 |
12,862 |
27,021 |
110 |
| LYY hedge gain/ (loss) |
- |
- |
- |
3,462 |
- |
- |
| ECL hedge gain/ (loss) |
166 |
1,559 |
239 |
760 |
1,725 |
127 |
| Other |
6,299 |
18,998 |
202 |
8,640 |
25,296 |
193 |
| Other Income |
424 |
216 |
(49) |
625 |
640 |
2 |
| Operating Expense |
(10,267) |
(10,027) |
(2) |
(7,659) |
(20,294) |
165 |
| Pre- Provision Income |
15,411 |
29,480 |
91 |
34,904 |
44,891 |
29 |
| Provision for Loan Losses, net of collections |
(2,171) |
(3,471) |
60 |
(1,903) |
(5,643) |
197 |
| Stage 1+2 (net) |
(1,885) |
(1,687) |
(10) |
(656) |
(3,572) |
445 |
| Stage 3 |
(1,151) |
(929) |
(19) |
(1,977) |
(2,080) |
5 |
| Stage 3 Recoveries |
1,030 |
704 |
(32) |
1,490 |
1,734 |
16 |
| Currency Impact (fully hedged) |
(166) |
(1,559) |
839 |
(760) |
(1,725) |
127 |
| Other Provisions |
(154) |
(289) |
88 |
(4,387) |
(443) |
(90) |
| LYY MtM gain/ (loss) |
- |
- |
- |
(3,464) |
- |
- |
| Free Provisions |
- |
- |
- |
- |
- |
- |
| Other |
(154) |
(289) |
88 |
(923) |
(443) |
(52) |
| Income Before Tax |
13,086 |
25,723 |
97 |
28,615 |
38,809 |
36 |
| Tax |
(2,375) |
(5,416) |
128 |
(7,458) |
(7,791) |
4 |
| Net Income |
10,711 |
20,307 |
90 |
21,157 |
31,018 |
47 |