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Consolidated financial highlights 

Snapshot of Results

Profitability (%) 1Q20 2020 1Q21
ROE 9,6 10,9 12,9
ROE, Quarterly 9,6 12,1 12,9
ROA 1,3 1,4 1,6
ROA, Quarterly 1,3 1,5 1,6
Swap Adj. NIM 4,83 4,12 2,40
Swap Adj. NIM, Quarterly 4,83 3,61 2,40
CIR (1) 33,8 33,8 40,0
CIR, Quarterly 33,8 38,5 40,0
(%)      
Total LDR (2) 84 94 95
TL (3) 126 153 147
FX 48 47 51
Leverage (x) 7,8 7,6 8,2
Asset Quality (%)      
NPL Ratio 6,7 6,2 5,8
Stage 3 Coverage 58,8 62,4 63,7
Stage 2/ Total Gross Loans 12,2 9,4 9,5
Stage 2 Coverage 11,8 16,4 16,8
Net CoC 2,01 2,27 1,01
Net CoC, Quarterly 2,01 1,06 1,01
Solvency (4) (%)      
CAR 18,8 19,8 18,5
CET-1 16,0 16,9 15,5
Tier-1 16,0 16,9 15,5

(1) CIR calculation excludes FX gain from long FX position related with stage 1&2 provisions and LYY hedge. For 2020 figures the calculation also excludes insurance penalty of TL 71 mn & BRSA penalty of TL 117 mn
(2) Bank-only
(3) TL LDR includes domestic TL bond issuances and merchant payables
(4) w/o forbearances: Fixing MtM losses of securities & FX rate for RWA calculation to average last 12 month FX rate for 1Q21 and 2020 & to YE 2019 for 1Q20

Balance Sheet Highlights

  2020 1Q21 QoQ (%)
Consolidated (TL mn)      
Cash and due from Banks 60.576 76.323 26
Securities 101.926 106.843 5
TL 59.540 62.336 5
FX (USD) 5.713 5.346 (6)
Loans (net) 262.658 281.814 7
TL 170.310 175.986 3
FX (USD) 12.447 12.711 2
Other 53.157 52.310 (2)
Total Assets 478.317 517.290 8
Deposits 292.519 310.008 6
TL 108.362 118.963 10
FX (USD) 24.821 22.946 (8)
Funds Borrowed and Bonds Issued 66.287 70.962 7
Repo 20.907 37.029 77
Other 35.679 36.253 2
Equity 62.924 63.038 -
Total Liabilities and S/H Equity 478.317 517.290 8

Income Statement Highlights

Consolidated (TL mn) 1Q20 4Q20 1Q21 QoQ(%) YoY(%)
Net Interest Income incl. swap cost 4.503 3.999 2.782 (30) (38)
NII 5.241 5.565 4.193 (25) (20)
o/w CPI-linker income 647 1.602 1.088 (32) 68
Swap Cost (738) (1.566) (1.411) (10) 91
Fees and Commissions (Net) 1.264 1.074 1.462 36 16
Net Trading Gain (Loss) 252 (7) 2.031 - 706
LYY hedge gain/ (loss) - (429) 1.105 - -
ECL hedge gain/ (loss) 185 (61) 62 - (67
Other 67 482 864 79 -
Other Income 76 85 267 216 252
Operating Expense (2.055) (2.166) (2.087) (4) 2
Pre- Provision Income 4.040 2.984 4.455 (49) 10
Provision for Loan Losses, net of collections (1.099) (703) (697) (1) (37)
Stage 1+2 (net) (90) 685 (515) - 469
Stage 3 (1.141) (1.840) (621) (66) (46)
Stage 3 Recoveries 318 391 500 28 58
Currency Impact (fully hedged) (185) 61 (62) - (67)
Other Provisions (1.167) 97 (1.201) - 3
LYY MtM gain/ (loss) (871) 237 (1.203) - 38
Free Provisions (250) - - - -
Other (46) (140) 2 - -
Income Before Tax 1.774 2.377 2.557 8 44
Tax (471) (526) (529) - 12
Net Income 1.303 1.851 2.028 10 56
 
 
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