On 28 April 2025, Yapı Kredi announced its consolidated results for the first three months of 2025, based on Banking Regulation and Supervision Agency (BRSA) Accounting and Reporting Legislation. The Group’s cash and non-cash loans reached to TL 1.989 trillion while total deposits reached to TL 1.526 trillion. The Group’s net income stood at TL 11,419 million indicating a return on average tangible equity of 23.4%.
Maintaining solid financial fundamentals and controlled growth
In the first three months of 2025, the Group increased its Turkish Lira cash loans by 4% and foreign currency loans by 8%, in US dollar terms, compared to the end of 2024. As a result, total performing loans reached to TL 1.364 trillion. During the same period, the Group’s Turkish Lira customer deposits increased by 7% when foreign currency customer deposits increased by 12% in US dollar terms. All incorporated total customer deposits reached to TL 1.510 trillion, as of three months of 2025. Equally important, TL customer demand deposits up by a hefty 8% and TL customer demand deposits in total TL deposits increased to 28% within the scope of continued focus on small tickets in deposit gathering and contribution of efficient customers. Accordingly, loan-to-deposits plus Turkish Lira bonds ratio realized at 89%. The Group’s total and foreign currency liquidity coverage ratios realized at 132% and 282%, respectively.
Prudent and conservative asset quality approach
As of first three months of 2025, Yapı Kredi’s non-performing loan ratio realized as 3.3%. Although strength in collections continued, the Bank continued to set aside additional provisions in order to build pre-cautionary buffers. Accordingly, net cost of risk (adjusted for hedged foreign currency impact) materialised at 178 basis points in the first three months of 2025. Provisions to gross loans ratio increased further to 3.6%.
Strong capital buffers
In the first three months of 2025, the capital ratios continued to remain comfortably above regulatory levels and consolidated Capital Adequacy Ratio and Tier-1 ratio realized at 14.4% and 11.7%, respectively, excluding regulatory forbearances.
Solid revenue performance supporting the bottom-line
In the first three months of the year, Yapı Kredi recorded TL 39,410 million of core banking revenues. TL loan deposit spread widened by 315 bps compared to previous quarter thanks to the significant improvement in the cost of deposits, as well as continuing loan repricing in a decreasing rate environment. As of the first quarter of the year, swap adjusted net interest margin realized as 209 basis points, mainly driven by strong TL spread widening, despite lower CPI linker contribution. Net fees and commissions income increased by 12% compared to the previous quarter, reaching to TL 24,115 million in the first three months of the year. Operating costs, on the other hand, increased by 10% and stood at TL 26,492 million. As a result, fee coverage of operating costs ratio realized at as high as 91%. All in all, the Group achieved a net income of TL 11,419 million and 23.4% return on average tangible equity in the first three months of the year.
Enquiries:
Yapı Kredi Investor Relations
Investor Relations Email: yapikredi_investorrelations@yapikredi.com.tr