Message from the Chairman

Dear Stakeholders,

Turkey progresses with its economic advancement in the second quarter of 2021 as it gradually overcomes the difficulties arising from the COVID-19 pandemic, thanks to the accelerated vaccination efforts. With the devotion and self-sacrifice demonstrated by all health workers, the country gradually heads towards normalization and focuses on its long term targets.

Ever since the beginning of the pandemic, Turkish public authorities together with the banks and Turkish private sector, have strived to preserve the viability and the functioning of the economy. As the fluctuations in the international markets pose a challenge and new variants of the Coronavirus signal possible new epidemic waves, Turkey has been preserving its welfare in an uncompromising manner. Having taken all the necessary actions to overcome these difficult times, Turkish banks, once again stand agile for the possible challenges ahead and provide aid to their customers in times of need.

As health and safety continues to be the first and foremost priority for Yapı Kredi, the Bank proceeds with its contribution to the Turkish economy and the Turkish banking sector with its lasting commitment to sustainability in every aspect of its operations.

In the first six months of the year, total loans in the banking sector reached TL 3,715 billion indicating 20.1% year-over-year growth. During the same period, total deposits reached TL 3,659 billion, indicating 25.6% year-over-year growth. Accordingly, sector’s loan to deposit ratio declined by 5 percentage points year-over-year staying to 102% in the first half of 2021. Thanks to the strong performance of the banking sector, non-performing loan ratio improved by 43 basis points year-to-date to 3.6%.

In this normalization period that we are going through, Yapı Kredi will continue to support the economy and its customers, while preserving its solid fundamentals with special focus on asset quality and on a healthy balance sheet.

I would hereby like to extend my thanks to all our customers and shareholders for their continuous support and trust, and our employees and their families for their devoted efforts.


Ali Y. Koç
Chairman of the Board

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