Türkiye Vakiflar Bankasi Türk Anonim Ortakligi (VAKBN) investor relations material

Executive summary

• 9M26 net income was TL45.54bn, up 9% YoY; reported results included an TL8bn free-provision reversal that did not meet TAS 37 criteria and led to a qualified review conclusion.

• At September 30, assets reached TL6.235tn; performing loans were TL3.558tn and deposits TL4.024tn.

Financial highlights

• 9M26 total revenue was TL256.9bn, up 28% YoY; 3Q26 revenue rose 10% QoQ to TL89.8bn.

• 9M26 net interest income was TL169.853bn, up 97% YoY; 3Q26 NII increased 33% QoQ to TL66.2bn.

• 9M26 net fee and commission income reached TL67.965bn, up 27% YoY; 3Q26 rose 17% QoQ to TL26.3bn.

• 9M26 operating expenses rose 47% YoY to TL122.7bn; 3Q26 expenses declined 9% QoQ to TL39.9bn.

• 9M26 provisions were TL72.9bn, up 15% YoY; 3Q26 provisions increased 49% QoQ to TL28.2bn. Trading recorded a TL22.817bn net loss for 9M26.

Outlook and guidance

• At realized Oct–Oct CPI of 29.8%, additional 4Q26 CPI-linker interest income was estimated at ~TL10.5bn; additional net income was estimated at TL5.3bn and ROAE at 23.4%.

• Management reiterated its focus on production, exports, employment, risk management, efficient resource use and sustainable profitability; new sustainability financing packages target TRY50bn and TRY10bn, respectively.