Turkiye Garanti Bankasi A.S. (IST: GARAN)

GARAN Income Statement

Financials in millions TRY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	279,192	166,304	86,811	46,318	31,525	34,378
Interest Income on Investments	103,050	67,368	46,085	13,903	7,838	7,679
Total Interest Income	382,242	233,671	132,896	60,221	39,362	42,057
Interest Paid on Deposits	249,831	131,508	34,307	19,443	9,415	16,529
Interest Paid on Borrowings	24,872	15,693	10,401	4,685	8,426	4,843
Total Interest Expense	274,703	147,200	44,708	24,128	17,840	21,372
Net Interest Income	107,539	86,471	88,187	36,092	21,522	20,685
Net Interest Income Growth (YoY)	14.45%	-1.95%	144.34%	67.70%	4.05%	-0.96%
Income From Trading Activities	-28,074	-15,170	-20,308	-2,188	-3,006	-3,092
Gain (Loss) on Sale of Assets	1,545	567.82	604.49	505.14	321.29	94.29
Gain (Loss) on Sale of Investments	-	-	-323.66	-	-	-23.17
Other Non-Interest Income	162,182	127,444	64,808	27,133	12,183	11,977
Total Non-Interest Income	135,653	112,842	44,781	25,449	9,498	8,955
Non-Interest Income Growth (YoY)	86.43%	151.99%	75.96%	167.94%	6.06%	19.93%
Revenues Before Loan Losses	243,192	199,313	132,968	61,542	31,020	29,640
Provision for Loan Losses	45,628	39,154	26,005	20,956	7,562	11,492
Revenue	197,564	160,159	106,963	40,586	23,459	18,148
Revenue Growth (YoY)	49.94%	49.73%	163.55%	73.01%	29.26%	-4.95%
Salaries and Employee Benefits	29,488	20,849	10,141	6,046	4,620	4,188
Occupancy Expenses	-	-	-	-	925.67	-
Selling, General & Administrative	3,244	2,085	938.87	599.38	682.96	453.16
Other Non-Interest Expense	41,772	30,909	18,734	16,078	4,860	6,467
Total Non-Interest Expense	70,783	50,566	28,830	22,171	11,089	11,108
EBT Excluding Unusual Items	126,781	109,593	78,134	18,415	12,370	7,040
Asset Writedown	-8.98	-8.38	-5.53	-4.48	-2,724	-24.43
Legal Settlements	-	-	-	-	-	1,157
Other Unusual Items	-2,523	-2,523	-1,140	-	-	-
Pretax Income	124,249	107,061	76,988	18,410	9,646	8,172
Income Tax Expense	26,562	20,154	18,477	4,823	2,910	1,931
Earnings From Continuing Operations	97,687	86,907	58,510	13,588	6,736	6,241
Minority Interest in Earnings	-740.99	-532.22	-224.93	-120.82	-80.06	-76.48
Net Income	96,946	86,375	58,285	13,467	6,656	6,165
Net Income to Common	96,946	86,375	58,285	13,467	6,656	6,165
Net Income Growth	36.96%	48.19%	332.81%	102.32%	7.97%	-7.18%
Basic Shares Outstanding	4,200	4,200	4,200	4,200	4,200	4,200
Diluted Shares Outstanding	4,200	4,200	4,200	4,200	4,200	4,200
Shares Change (YoY)	-0.00%	-	-	-	-	-
EPS (Basic)	23.08	20.57	13.88	3.21	1.58	1.47
EPS (Diluted)	23.08	20.57	13.88	3.21	1.58	1.47
EPS Growth	36.96%	48.19%	332.81%	102.32%	7.97%	-7.18%
Dividend Per Share	3.119	3.119	2.090	-	0.149	-
Dividend Growth	49.26%	49.26%	-	-	-	-
Effective Tax Rate	21.38%	18.82%	24.00%	26.20%	30.17%	23.63%

Source: S&P Capital IQ. Banks template. Financial Sources.