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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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