Akbank (AKBNK) investor relations material

Executive summary

• Net income for Q1 2026 reached TL 19,143 million, up 39% YoY, with ROE at 25.3% and ROA at 2.2%, supported by robust ALM, fee income, and digital transformation initiatives.

• Revenue grew 42% YoY to TL 71,952 million, driven by strong NII, fee income, and treasury management.

• Maintained a resilient balance sheet, with CAR at 16.1%, Tier 1 at 13.1%, and healthy liquidity, enabling flexibility for growth.

• Continued disciplined cost control, with CIR at 50.6% and digital penetration at 88%.

• Navigated a challenging macro environment marked by geopolitical tensions, energy price volatility, and evolving monetary conditions.

Financial highlights

• Net income up 39% YoY to TL 19,143 million; revenue up 42% YoY to TL 71,952 million.

• Net interest income rose 87% YoY to TL 43,086 million; net fees and commissions increased 35% YoY.

• NIM at 3.3% for Q1, swap-adjusted NIM improved 20 bps QoQ; CPI-normalized NIM up 90 bps QoQ.

• ROE at 25.3%, ROA at 2.2%, both aligned with projections.

• Cost/income ratio remained in the low 40%–50% range, with operating expenses at TL 22.0 billion.

Outlook and guidance

• Guidance targets >30% TL loan growth, >10% FX loan growth, ~4% NIM, >30% fee growth, and low-30% opex growth for 2026.

• Cost/income ratio expected to improve toward low-40% range.

• Asset quality and risk costs to remain within guided levels; NPL ratio expected around 3.5%.

• Macro assumptions revised: year-end inflation at 28%, policy rate at 34%, GDP growth at 3%.