Turkey · Delayed Price · Currency is TRY Akbank T.A.S. Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong net income and revenue growth, robust capital and liquidity, and stable asset quality despite macro volatility. Guidance for high-20s ROE and gradual NIM improvement remains, with fee income and cost discipline supporting profitability.
Fiscal Year 2025
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Net income grew 35% year-on-year to TRY 57.2B, with ROE at 21.5% and robust fee income. Strong capital ratios, disciplined cost management, and market share gains in loans and deposits underpin a positive outlook, with NIM and ROE expected to improve further.
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Net income rose 17% year-on-year to TRY 38.9B, with strong loan and fee growth, robust capital, and disciplined risk management. NIM and ROE guidance may be missed due to slower rate cuts, but loan growth and fee income are expected to remain strong.
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Net income rose 3% year-over-year to TRY 24.85B, with robust 60% fee income growth and strong capital ratios. Full-year ROE guidance was revised down to above 25% due to lower NIM, while loan and fee income growth remain strong.
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Q1 results exceeded expectations with strong revenue, fee income, and robust capital ratios. NIM faces near-term pressure from higher funding costs, but full-year ROE guidance is maintained, with cost of risk likely at the upper end of guidance.
Fiscal Year 2024
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Core revenues rose 22% year-on-year, driven by strong fee income and digital expansion, despite a 36% drop in net income due to NII compression and cost pressures. Margin recovery, robust capital, and strategic loan growth are expected to drive ROE above inflation in 2025.
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Net income fell 36% year-on-year to TRY 33.1B, but fee income surged 136% and digital customer growth remained strong. NIM bottomed in Q3, with gradual recovery expected in 2024, while asset quality and capital ratios remain robust.
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Strong fee income and digital growth offset margin pressures from high funding costs and loan growth caps. Net income declined 22% year-on-year, but capital and asset quality remain robust, with improved guidance for cost of credit and fee income.