Turkey · Delayed Price · Currency is TRY Turkiye Garanti Bankasi A.S. Earnings Call Transcripts
Fiscal Year 2026
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Q1 net income rose 32% year-over-year to TRY 34 billion, with strong NIM and fee growth. Guidance anticipates temporary NIM compression in Q2 due to higher funding costs, but margins are expected to recover in H2. Sale of Romanian subsidiary will boost capital and profitability.
Fiscal Year 2025
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Delivered 21% net income growth and sector-leading profitability in 2025, with strong core banking revenue and robust capital ratios. 2026 guidance targets positive real ROE, NIM expansion, and disciplined cost and risk management amid regulatory and macroeconomic uncertainties.
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Achieved record Q3 net income and sustained strong ROE, driven by robust NII, fee growth, and digital engagement. Revised guidance reflects lower net cost of risk and higher fee coverage of OPEX, with capital strength enhanced by Tier 2 issuance.
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Net income reached TRY 28.2 billion in Q2, with 11% EPS growth and strong fee generation. H1 net earnings totaled TRY 53.6 billion, delivering a 30.7% ROE, while fee income covered 86% of operating expenses.
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First quarter net income rose 13% year-over-year to TL 25.4 billion, driven by strong core banking income and robust deposit growth. Asset quality and capital ratios remain solid, with NIM expansion now expected in Q4 as funding costs normalize.
Fiscal Year 2024
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Reported TRY 92.2 billion net income in 2024, up 17% year-over-year, with strong loan and deposit growth, resilient margins, and best-in-class efficiency. 2025 guidance anticipates above-CPI loan growth, margin expansion, and return on equity in the low 30s.
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Achieved robust third quarter results with strong net income, high efficiency, and leading market shares in key loan segments. Despite regulatory headwinds and rising cost of risk, full-year profitability guidance is maintained, with continued focus on capital-generative growth.
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Net income grew 32% year-on-year in H1 2024, with strong core banking revenues and sector-leading margins. Asset quality is normalizing, but cost of risk remains below guidance. Outlook for H2 and 2025 is positive, with margin expansion expected.