Investor Presentaiton
Financial results highlights Q1 2022
Highlights Income
Expenses
Risk
Capital
Liquidity Divisional
Strong Q1-22 results with net profit up 18% y-o-y on higher income and lower
impairments
• Net interest income up 4% y-o-y on improved loan and deposit mix
Better /
Better /
Income Statement (USD bn)
Q1-22
Q1-21
Q4-21
Key Highlights
(Worse)
(Worse)
Net interest income
1.2
1.1
4%
1.2
(2)%
•
Non-funded income
0.6
0.6
2%
0.6
(3)%
Total income
1.7
1.7
3%
1.8
(2)%
Operating expenses
(0.5)
(0.5)
(5)%
(0.6)
14%
Pre-impairment operating profit
1.2
1.2
3%
1.2
4%
Impairment allowances
(0.4)
(0.5)
20%
(0.6)
36%
Operating profit
0.8
0.7
19%
0.6
Taxation charge and others
(0.1)
(0.1)
(24)%
(0.0)
Net profit
0.7
0.6
18%
Cost: income ratio (%)
30.8%
30.3%
Net interest margin (%)
2.60%
2.46%
(0.5)%
0.14% 2.59%
0.5
34.8%
45%
(378)%
36%
4.0%
0.01%
•
-
Initial signs of higher rates feeding through to margins
-
Record CASA balances improving funding costs
• Non-funded income up 2% y-o-y from increased transaction activity
-
Increased local and international card transactions
W
Growth in client flow FX & Derivative transaction income
Expenses well controlled in Q1-22 with CI ratio within guidance
-
W
Higher staff cost y-o-y driving an increase in underlying earnings and
future growth
Other costs lower due to seasonality from earlier campaigns
Q1-22 cost of risk of 116 bps lower y-o-y and q-o-q reflecting improving
operating environment
• 1% Loan growth in Q1-22
El lending up 6%, Retail lending up 4% and DenizBank's net loans up
11%
Group maintains strong Capital and Liquidity with coverage ratio highest
amongst regional peers
Balance Sheet (USD bn)
31-Mar-22 31-Mar-21
Inc/
(Dec)
31-Dec-21
Inc/
(Dec)
•
Total assets
188.9
189.1
187.1
1%
Loans
115.7
118.7
(2)%
114.9
1%
Deposits
127.6
124.9
CET-1 (%)
LCR (%)
NPL ratio (%)
15.0%
157.4%
6.4%
124.2
15.6% (0.6)% 15.1%
165.1% (7.7)% 177.6%
6.1% 0.3% 6.3%
2%
3%
(0.1)%
(20.2)%
0.1%
•
15View entire presentation