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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	343,876	166,304	86,811	46,318	31,525	34,378
Interest Income on Investments	123,342	67,368	46,085	13,903	7,838	7,679
Total Interest Income	467,218	233,671	132,896	60,221	39,362	42,057
Interest Paid on Deposits	317,799	131,508	34,307	19,443	9,415	16,529
Interest Paid on Borrowings	33,390	15,693	10,401	4,685	8,426	4,843
Total Interest Expense	351,189	147,200	44,708	24,128	17,840	21,372
Net Interest Income	116,029	86,471	88,187	36,092	21,522	20,685
Net Interest Income Growth (YoY)	28.43%	-1.95%	144.34%	67.70%	4.05%	-0.96%
Income From Trading Activities	-22,963	-15,170	-20,308	-2,188	-3,006	-3,092
Gain (Loss) on Sale of Assets	947.24	567.82	604.49	505.14	321.29	94.29
Gain (Loss) on Sale of Investments	-	-	-323.66	-	-	-23.17
Other Non-Interest Income	164,298	127,444	64,808	27,133	12,183	11,977
Total Non-Interest Income	142,282	112,842	44,781	25,449	9,498	8,955
Non-Interest Income Growth (YoY)	54.06%	151.99%	75.96%	167.94%	6.06%	19.93%
Revenues Before Loan Losses	258,311	199,313	132,968	61,542	31,020	29,640
Provision for Loan Losses	49,418	39,154	26,005	20,956	7,562	11,492
Revenue	208,893	160,159	106,963	40,586	23,459	18,148
Revenue Growth (YoY)	42.43%	49.73%	163.55%	73.01%	29.26%	-4.95%
Salaries and Employee Benefits	34,582	20,849	10,141	6,046	4,620	4,188
Occupancy Expenses	-	-	-	-	925.67	-
Selling, General & Administrative	3,820	2,085	938.87	599.38	682.96	453.16
Other Non-Interest Expense	49,213	30,909	18,734	16,078	4,860	6,467
Total Non-Interest Expense	83,801	50,566	28,830	22,171	11,089	11,108
EBT Excluding Unusual Items	125,091	109,593	78,134	18,415	12,370	7,040
Asset Writedown	-9.65	-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	122,559	107,061	76,988	18,410	9,646	8,172
Income Tax Expense	26,285	20,154	18,477	4,823	2,910	1,931
Earnings From Continuing Operations	96,274	86,907	58,510	13,588	6,736	6,241
Minority Interest in Earnings	-844.41	-532.22	-224.93	-120.82	-80.06	-76.48
Net Income	95,429	86,375	58,285	13,467	6,656	6,165
Net Income to Common	95,429	86,375	58,285	13,467	6,656	6,165
Net Income Growth	24.04%	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
EPS (Basic)	22.72	20.57	13.88	3.21	1.58	1.47
EPS (Diluted)	22.72	20.57	13.88	3.21	1.58	1.47
EPS Growth	24.04%	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	21.45%	18.82%	24.00%	26.20%	30.17%	23.63%

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