Message from the Chairman

Dear Stakeholders,

In the first half of 2022, high inflation and growth concerns in global markets continued to be the main topics. In addition to the inflationary effects stemming from post-pandemic supply constraints, the energy price increases due to Russia-Ukraine crisis, negatively affected inflation all over the world and caused record levels to be seen.

Despite these challenging conditions, Turkey continued its fight against inflation and recorded a growth of 7.3% in the first quarter of 2022 with the support of both domestic and foreign demand.

The Turkish banking sector continued to support the economy, while strengthening its balance sheet structure. In the first half of the year, total loans increased by 59% annually and reached TL 5.898 billion. In the same period, the deposit base grew by 78% to reach TL 6.551 billion. Thus, the loan/deposit ratio of the sector improved by 13 points compared to the same period of the previous year and decreased to 91%.

On the asset quality side, the positive trend continued, and the non-performing loans ratio decreased by 62 basis points to 2.5% since the end of 2021.

Going forward, preserving strong fundamentals, Yapı Kredi will continue to support the economy and its customers, while maintaining its focus on asset quality and healthy balance sheet structure.

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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