Yapı Kredi's 2022 profit exceeds expectations

Yapı Kredi announced a profit of 52.74 billion TL in 2022. Market expectations were for the bank to make a profit of 51.65 billion TL. Positive balance sheets continue in the banking sector. Yapı Kredi also announced financial results for 2022 that exceeded market expectations. According to the financial results sent to the Public Disclosure Platform, the bank announced a profit of 52.74 billion TL in 2022. The bank's profit in 2021 was 10.49 billion TL. The market's expectation for 2022 was 51.65 billion TL. The bank's net interest income in 2022 was recorded as 76.95 billion TL. The bank earned 22.7 billion TL in interest income in 2021. Net fee commission income also increased by 93 percent compared to 2021, reaching 14.13 billion TL. The bank's total cash loan volume increased by 50 percent compared to the end of 2021 to 584 billion liras, while its asset size increased by 52 percent to 1.2 trillion liras. While total customer deposit volume increased by 68 percent compared to the same period of the previous year to 695 billion liras, return on equity was realized as 57 percent. TL loan growth estimate for 2023 is below 40 percent Yapı Kredi also announced its expectations for 2023. Accordingly, the bank predicted TL loan growth to be below 40 percent in 2023. Yapı Kredi announced that it expects a contraction in foreign currency loans. The bank, which sees the total credit risk cost as around 100 basis points in 2023, forecasted a net interest margin of above 5 percent. Erün: Our market share in Turkish lira loans was 17 percent among private banks Evaluating the financial results, Yapı Kredi CEO Gökhan Erün made the following assessment: “As a bank that believes in the importance of sustainability not only in social and environmental terms but also in financial terms, we supported the country's economy with all our means. We achieved significant success in 2022. Our market share in Turkish lira loans was 17 percent among private banks. Our share in Turkish lira customer deposits was 16.2 percent among private banks.” Stating that they were working on a detailed plan to reduce emissions originating from the loan portfolio within the scope of the Carbon Transformation Program led by Koç Holding, Erün made the following statements: “We act with the responsibility of accelerating the transition to a low-carbon economy. As part of this responsibility, we are working very hard to increase the support we provide for energy efficiency, renewable energy, and other low-carbon energy sources with the products and services we develop. Renewable energy projects constituted 22 percent of our project loan portfolio in 2022. “With the financial support we provide to green projects and investments, we provide one of the most fundamental contributions to a sustainable future.”