Message from the CEO

Dear Stakeholders,

In the second quarter of 2022, the effects of the Covid-19 pandemic on the economy continued. In addition to the effects caused by the supply constraint, the increase in energy prices due to the Russia-Ukraine crisis put pressure on inflation. Worldwide, growth concerns arose as inflation continued its upward trend.

While Turkey continued its fight against inflation in this process, it continued its growth trend in a controlled manner. In the first quarter of 2022, our country achieved a growth of 7.3% with the support domestic demand and as well as foreign demand on the back of significant increase in export volume.

The Turkish banking sector once again demonstrated its resilience in difficult conditions in this period, as it did in previous years. Despite all the uncertainties in the operating environment arising from the pandemic and geopolitical developments, Turkish banking sector continued to support the economy, while improving its key performance indicators further.

As Yapı Kredi, our support to the economy through cash and non-cash loans has increased by 30% year-to-date and 66% annually exceeding TL 731 billion. In TL cash loans, the Bank recorded a year-to-date growth of 36% and an annual growth of 61%. On the other hand, quarterly TL customer deposit growth was 51%, well above the loan growth. Thus, the Bank's TL loan deposit ratio decreased by 11 points to 136% during the first half of the year.

While maintaining its support to the economy, the Bank further improved its capital and liquidity ratios. The FX liquidity coverage ratio rose to 595%, while the total liquidity coverage ratio realized at180% level. On the capital side, with the support of internal capital generation and the contributions of being the first Turkish Bank adopting the internal ratings-based (IRB) approach, the consolidated capital adequacy ratio and the Tier 1 ratio rose to 16.7% and 14.6%, respectively (without the impact of regulatory forbearances).

I would like to take this opportunity to thank our customers, our shareholders for their trust, and our employees for their valuable efforts.


Gökhan Erün

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