Turkey · Delayed Price · Currency is TRY Yapi ve Kredi Bankasi A.S. Earnings Call Transcripts
Fiscal Year 2025
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Profit before tax nearly doubled and net profit rose 79% in 2025, driven by strong core revenue, margin expansion, and robust asset quality. 2026 guidance targets high-20s ROE, NPL ratio below 4%, and continued technology-driven efficiency, with SME NPLs as a key risk.
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Net profit surged 69% year-over-year to TRY 38 billion, with strong core revenue and asset quality. NIM and ROE are on track to meet or exceed guidance, while cost of risk and fee coverage are expected to normalize in 2026.
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First-half 2025 net profit rose 31% year-on-year to TRY 23 billion, with strong fee and NIM performance despite market volatility. Guidance for NIM improvement was revised down, but fee growth expectations were raised, and asset quality remains robust with prudent provisioning.
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Net profit surged 73% QoQ to TRY 11.4B, with strong margin and fee growth. Asset quality remained robust, and capital ratios solid, despite market volatility and rising rates. Guidance maintained, with upside risk to fee growth due to inflation.
Fiscal Year 2024
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Pre-provision profit surged 82% quarter-on-quarter, with net profit at 6.6 billion TL and full-year ROE at 16%. 2025 guidance includes NIM improvement to 3.7%, fee growth of 25-30%, and cost growth below 50%, amid ongoing regulatory constraints.
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Net profit for the quarter was TRY 5 billion, down 30% sequentially, with strong fee growth and improved margins despite a challenging environment. Asset quality remains robust, capital buffers are high, and margin improvement is expected mainly in the second half of 2025.
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First half results show strong profitability, robust asset quality, and market-leading deposit growth, with net profit at TRY 17.4 billion and NIM set to recover in H2. Guidance points to higher returns and lower cost of risk, supported by a stable macro environment.