Investor Presentaiton
Consolidated income statement
TL million
4Q22
3Q23
4Q23
y/y
9/9
2022
2023
y/y
Net Interest Income including swap costs
31,603
29,189
18,474
-42%
-37%
77,802
73,778
-5%
o/w NII
31,401
29,554
25,961
-17%
-12%
79,258
79,417
0%
1
Income from CPI-linkers
21,097
24,237
19,062
-10%
-21%
47,276
61,246
30%
o/w Swap costs
Fees & Commissions
Core Revenues
Operating Costs
201
-365
-7,486
n.m.
n.m.
-1,457
-5,639
n.m.
5,131
11,037
13,934
172%
26%
15,741
38,160
142%
36,734
40,226
32,408
-12%
-19%
93,542
111,938
20%
9,741
12,073
16,607
70%
38%
23,657
48,803
106%
Core Operating Income
26,993
28,153
15,802
-41%
-44%
69,885
63,135
-10%
Trading and FX gains/losses
1,300
6,288
4,190
222%
-33%
11,658
26,928
131%
Trading excl. ECL hedge
654
5,403
2,736
318%
-49%
6,844
19,733
188%
ECL hedging
646
884
1,454
125%
64%
4,815
7,195
49%
Other income
213
600
1,422
568%
137%
1,014
3,505
246%
o/w income from subs
66
370
744
n.m.
101%
236
1,624
589%
Pre-provision Profit
28,506
35,041
21,414
-25%
-39%
82,558
93,567
13%
ECL net of collections
5,207
1,458
815
-84%
-44%
12,952
8,333
-36%
ECL (excl. currency impact)
4,561
573
-639
-114%
-211%
8,137
1,138
-86%
o/w Collections/Provision Reversals (-)
-2,269
-2,480
-4,155
83%
68%
-9,568
-15,892
66%
Provisions for Risks and Charges & Other
107
33
92
-14%
182%
412
206
-50%
Pre-tax Income
23,192
33,550
20,506
-12%
-39%
69,194
85,029
23%
Tax
Net Income
5,762
8,964
1,199
-79%
-87%
16,448
17,019
3%
17,429
24,586
19,307
11%
-21%
52,745
68,010
29%
ROTE
RoA
COR (excl. currency impact)
59%
66%
46%
-13pp
-20pp
57%
45%
-12pp
6.1%
6.2%
4.4%
-2pp
-2pp
5.4%
4.5%
-91bps
2.87%
0.27%
-0.27%
-3pp
-1pp
1.47%
0.14%
-133bps
Notes:
n.m.: not meaningful
1. Interest income from CPI linkers includes only inflation impact on principal amount and does not include the interest income from fixed coupon rate
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