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CORPORATE GOVERNANCE
FINANCIAL INFORMATION AND
RISK MANAGEMENT
ACTIVITIES
ASSETS (TL thousand) (*)
2006/12
2007/12
2008/12
2009/12
2010/12
Cash and Equivalents
477,110
511,311
605,020
893,430
1,262,764
Banks and Receivables from Interbank Money Markets (1)
12,221,022
14,388,777
19,320,482
18,348,043
13,719,134
Securities (Net)
29,802,637
28,689,213
29,479,683
45,078,276
51,814,331
Loans and Factoring Receivables (2)
32,136,918
36,800,215
51,689,972
52,760,440
69,409,124
Associates and Subsidiaries (Net)
3,006,775
3,058,096
2,265,925
2,996,044
3,541,421
Receivables from Finance Lease
940,199
921,614
1,095,478
931,016
963,265
Fixed Assets (Net)
2,846,717
2,928,744
2,940,690
2,925,103
3,352,137
Other Assets
1,595,301
2,780,352
3,810,781
4,984,124
6,748,560
Total Assets
83,026,679
90,078,322
111,208,031
128,916,476 150,810,736
LIABILITIES (TL thousand) (*)
2006/12
2007/12
2008/12
2009/12
2010/12
Deposits
46,306,374
48,063,949
62,988,002
72,054,972
88,476,619
Funds Borrowed and Interbank Money Market Placements
19,804,992
20,875,569
24,784,827
28,346,924
27,330,398
Marketable Securities issued
0
0
0
0
195,954
Provisions
4,254,578
5,250,533
6,267,455
7,112,309
7,560,506
Other Liabilities
2,407,187
4,011,801
5,176,496
6,096,346
8,260,604
Shareholders' Equity
10,253,548
11,876,470
11,991,251
15,305,925
18,986,655
Total Liabilities
83,026,679
90,078,322
111,208,031
128,916,476 150,810,736
INCOME STATEMENT (3) (TL thousand)
2006/12
2007/12
2008/12
2009/12
2010/12
Interest Income
8,413,588
10,096,731
11,769,369
11,370,516
10,850,750
Interest Expenses
5,194,852
6,387,105
7,175,786
5,630,372
5,440,180
Net Interest Income
3,218,736
3,709,626
4,593,583
5,740,144
5,410,570
Net Trading Income
35,060
434,530
546,400
557,041
292,912
Net Fees and Commissions Income
982,355
1,090,624
1,165,780
976,898
997,891
Dividend Income
50,116
408,459
128,351
166,338
45,785
Other Operating Income
3,537,813
3,193,837
2,707,831
3,503,912
4,031,367
Total Operating Income
7,824,080
8,837,076
9,141,945
10,944,333
10,778,525
Operating Expenses
4,936,678
4,671,405
5,217,181
5,213,259
5,671,987
NET OPERATING PROFIT/LOSS
2,887,402
4,165,671
3,924,764
5,731,074
5,106,538
Provision for Losses on Loans and Other Receivables
881,738
1,650,772
1,709,042
2,363,565
1,185,911
PROFIT/(LOSS) BEFORE TAXES
2,005,664
2,514,899
2,215,722
3,367,509
3,920,627
Provision for Taxes
590,401
488,104
396,692
615,205
688,933
NET PERIOD PROFIT /(LOSS)
1,415,263
2,026,795
1,819,030
2,752,304
3,231,694
GROSS INCOME (4)
13,088,221
15,337,669
16,509,976
17,067,177
16,730,014
GROSS PROFIT (5)
2,887,402
4,165,671
3,924,764
5,731,074
5,106,538
KEY RATIOS
2006/12
2007/12
2008/12
2009/12
2010/12
Interest Earning Assets (6) / Total Assets
90.2%
89.5%
91.3%
90.6%
89.7%
Interest Earning Assets (6) / Interest Bearing Liabilities
113.3%
116.9%
115.6%
116.4%
116.7%
Securities / Total Assets
35.9%
31.8%
26.5%
35.0%
34.4%
Loans / Total Assets
38.7%
40.9%
46.5%
40.9%
46.0%
Loans / Deposits
69.4%
76.6%
82.1%
73.2%
78.1%
Retail Loans / Total Loans
28.7%
32.2%
28.5%
28.8%
28.7%
NPL Ratio
3.6%
4.0%
4.2%
5.1%
3.4%
Coverage Ratio
100.0%
100.0%
100.0%
100.0%
100.0%
Demand Deposits / Total Deposits
16.8%
16.9%
14.2%
15.9%
16.6%
Shareholders' Equity / Total Liabilities
12.3%
13.2%
10.8%
11.9%
12.6%
Capital Adequacy Standard Ratio
24.8%
21.1%
16.2%
18.1%
17.6%
Return on Average Assets (7)
1.9%
2.3%
1.8%
2.3%
2.3%
Return on Average Equity (7)
14.1%
18.3%
15.2%
20.2%
18.8%
Cost / Income (8)
43.2%
37.0%
43.3%
35.3%
41.0%
OTHER INFORMATION (TL thousand)
2006/12
2007/12
2008/12
2009/12
2010/12
Regulatory Capital
9,835,719
12,210,735
12,828,095
15,632,586
19,350,844
Core Capital
9,518,667
11,829,029
12,994,127
15,127,364
17,982,133
Free Capital (9)
4,606,592
6,121,964
7,078,505
9,750,739
12,160,810
Demand Deposits
7,771,005
8,132,787
8,940,172
11,432,282
14,688,893
(*) Interest accruals are included in all interest related items.
(1) Includes Deposits at the Central Bank and Reserve Requirements
(2) Excludes Receivables under Follow-up
(3) Fees and Commissions Received from Cash Loans are showed under Interest Income; Fees and Commisssions Paid to Cash Loans are shown under
Interest Expense.
(4) Gross Income = Interest Income + Net Trading Income + Fees and Commissions Income (Gross) + Dividend Income + Other Operating Income
(5) Gross Profit = Net Period Profit/(Loss) + Provision for Taxes + Provision for Losses on Loans and Other Receivables
(6) Interest Earnings Assets include TRY and FX reserves at Central Bank, which are currently paid 0% interest.
(7) Averages are calculated over year-end figures.
(8) Operating Income and Operating Expenses are adjusted for the Gains/Losses due to FX indexed items.
(9) Free Equity = Shareholders’ Equity - (Fixed Assets+Non-Financial Associates and Subsidiaries + Receivables Under Follow-Up - Specific Provisions)
CONSOLIDATED