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

IST:GARAN Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	398,961	166,304	86,811	46,318	31,525
Interest Income on Investments	141,757	67,368	46,085	13,903	7,838
Total Interest Income	540,718	233,671	132,896	60,221	39,362
Interest Paid on Deposits	371,132	131,508	34,307	19,443	9,415
Interest Paid on Borrowings	43,368	15,693	10,401	4,685	8,426
Total Interest Expense	414,500	147,200	44,708	24,128	17,840
Net Interest Income	126,218	86,471	88,187	36,092	21,522
Net Interest Income Growth (YoY)	45.97%	-1.95%	144.34%	67.70%	4.05%
Income From Trading Activities	-21,410	-15,170	-20,308	-2,188	-3,006
Gain (Loss) on Sale of Assets	515.72	567.82	604.49	505.14	321.29
Gain (Loss) on Sale of Investments	-	-	-323.66	-	-
Other Non-Interest Income	181,164	127,444	64,808	27,133	12,183
Total Non-Interest Income	160,270	112,842	44,781	25,449	9,498
Non-Interest Income Growth (YoY)	42.03%	151.99%	75.96%	167.94%	6.06%
Revenues Before Loan Losses	286,488	199,313	132,968	61,542	31,020
Provision for Loan Losses	58,096	39,154	26,005	20,956	7,562
Revenue	228,392	160,159	106,963	40,586	23,459
Revenue Growth (YoY)	42.60%	49.73%	163.55%	73.01%	29.26%
Salaries and Employee Benefits	40,785	20,849	10,141	6,046	4,620
Occupancy Expenses	-	-	-	-	925.67
Selling, General & Administrative	5,074	2,085	938.87	599.38	682.96
Other Non-Interest Expense	56,570	30,909	18,737	16,078	4,860
Total Non-Interest Expense	100,405	50,567	28,833	22,171	11,089
EBT Excluding Unusual Items	127,987	109,592	78,130	18,415	12,370
Asset Writedown	-16.19	-7.63	-2.25	-4.48	-2,724
Other Unusual Items	-4,043	-2,523	-1,140	-	-
Pretax Income	123,928	107,061	76,988	18,410	9,646
Income Tax Expense	31,749	20,154	18,477	4,823	2,910
Earnings From Continuing Operations	92,179	86,907	58,510	13,588	6,736
Minority Interest in Earnings	-935.75	-532.22	-224.93	-120.82	-80.06
Net Income	91,243	86,375	58,285	13,467	6,656
Net Income to Common	91,243	86,375	58,285	13,467	6,656
Net Income Growth	5.64%	48.19%	332.81%	102.32%	7.97%
Basic Shares Outstanding	4,200	4,200	4,200	4,200	4,200
Diluted Shares Outstanding	4,200	4,200	4,200	4,200	4,200
EPS (Basic)	21.72	20.57	13.88	3.21	1.58
EPS (Diluted)	21.72	20.57	13.88	3.21	1.58
EPS Growth	5.64%	48.19%	332.81%	102.32%	7.97%
Dividend Per Share	-	3.119	2.090	-	0.149
Dividend Growth	-	49.26%	-	-	-
Effective Tax Rate	25.62%	18.82%	24.00%	26.20%	30.17%

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