Akbank (AKBNK) investor relations material

Executive summary

• Net income for H1 2025 rose 3% year-over-year to TL 24,852 million, with ROE at 20.1%–20.3% and ROA at 1.8%–1.9%.

• Revenue increased 39% year-over-year, driven by strong fee income, digital expansion, and disciplined cost management.

• Active customer base expanded 73% since 2021, reaching 14.7 million, with digital penetration at 87%.

• Strong capital and liquidity positions maintained, with CAR at 17.4%–20.32% and leverage ratio at 5.89%.

• Significant events included a USD 500 million Tier 2 note issuance, covered bond issuance, and major NPL sale.

Financial highlights

• Net fees and commissions income grew 60% year-over-year, reaching TL 48,468–51,219 million.

• Operating expenses rose 35% year-over-year, with cost/income ratio at 54.5%.

• NPL ratio at 3.4%–3.6%, with Stage 2+3 loans at 8.7% and coverage at 32.7%.

• Total deposits reached TL 1,804–1,890 billion, and total assets TL 2,818–2,984 billion.

• Earnings per share for H1 2025 was TL 0.04779.

Outlook and guidance

• 2025 guidance: TL loan growth above 30%, FX loan growth mid-single digits, and ROE above 25%.

• Swap-adjusted NIM guidance revised to 3–3.5%, with margin recovery expected from 3Q25.

• Fee income growth guidance revised up to 60% for the full year.

• Net cost of credit expected at 150–200 bps for the full year.

• NPL ratio expected to remain around 3.5%.