Investor Presentation Q3 2021
DenizBank business overview
Highlights
Income
Expenses
Risk
Capital
Liquidity
Macro
Divisional
Key Highlights
DenizBank contributed total income of USD 1,335m and net profit of USD 414m to the
Group for the year
• DenizBank contributed total income of USD 432m and net profit of USD 131m to the
Group for Q3-21
• Net interest income up q-o-q on lower funding costs. Non-funded income declined y-o-y
due to lower MTM gains
Q3-21 net cost of risk of 194 bps compared to 456 bps in Q3-20
Total assets of USD 34bn, USD 20bn net loans and USD 21bn deposits at end Q3-21
DenizBank is the fifth largest private bank in Turkey with wide presence through a
network of 718 branches servicing around 15m customers through 14,000+ employees
Income Statement (USD Mn)
Q3-21
Q3-20
Better /
(Worse)
Better/
Q2-21
(Worse)
Net interest income
386
378
2%
341
13%
Non-funded income
46
144
(68)%
7
588%
Total income
432
522
(17)%
347
24%
Operating expenses
(148)
(143)
(4)%
(157)
6%
Pre-impairment operating profit
284
380
(25)%
190
50%
Impairment allowances
(110)
(270)
59%
(61)
(79)%
•
Operating profit
175
110
59%
129
35%
•
Taxation charge
(43)
(25)
(73)%
(21)
(103)%
Net profit
131
84
55%
107
22%
Cost: income ratio
34.2%
27.3%
(6.9)%
45.2%
11.0%
Net interest margin
4.58%
4.28%
0.30%
4.12%
0.46%
Balance Sheet Metrics (USD bn)
Assets
Net Loans
Deposits
NPL and AD Ratio (As per local reporting guidelines)
NPL Ratio (Unadjusted)
AD Ratio (Unadjusted)
35.7
34.1
7.0
6.8
91.2
92.8
22.1
23.1
20.1
21.3
Q4-20
Q3-21
All financial numbers post acquisition (1-Aug-19) include the fair value adjustments, unless otherwise stated.
Q4-20
Q3-21
Q4-20
Q3-21
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