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)