Yapi ve Kredi Bankasi (YKBNK) investor relations material

Executive summary

• Net profit for the first half of 2026 reached TL 31 billion, up 36% year-on-year, with a return on tangible equity of 23.4% and a strong customer base exceeding 18 million.

• Strategic partnership with Azimut Holding Italy included the sale of Yapı Kredi Asset Management shares and a 15-year exclusive distribution agreement, valued at $425 million and expected to close by year-end.

• Asset quality remained pressured by macroeconomic conditions, with sustained NPL inflows from unsecured consumer and SME loans.

• Supported the Turkish economy with cash and non-cash loans up 33% year-over-year, reaching TL 3 trillion.

Financial highlights

• Total revenues for 1H26 were TL 139 billion, up 46% year-over-year; net interest income including swap costs was TL 54.7 billion, up 83% year-over-year.

• Net profit for the first half of 2026 was TL 31,012 million, up from TL 22,750 million year-over-year.

• Net fee and commission income grew 26% year-over-year to TL 66 billion, with strong contributions from payment systems, money transfer, lending, and investment products.

• Operating costs increased 34% year-over-year to TL 73 billion, with fee coverage of operating costs at 90%.

• Trading income for H1 was TRY 15.3 billion.

Outlook and guidance

• Maintains full-year ROE guidance in the mid-high 20s and expects at least 100 basis points improvement in net interest margin for 2026.

• 2026 guidance targets TL loan growth of 30% and FX loan growth in low single digits.

• Expects cost of risk to be slightly above the guided 150-175 basis points range due to slower recoveries and macro tightening.

• Macro assumptions include a year-end policy rate of 36%, inflation around 30%, and GDP growth near 3%.