Türkiye Is Bankasi (ISCTR) H1 2025 earnings summary

Executive summary

• Maintained strong performance in Q2 and H1 2025, supported by diversified revenue streams, subsidiaries' contributions, and effective cost management despite margin pressures and market volatility.

• Digitalization and sustainability initiatives advanced, including the first IFRS-aligned sustainability report and multiple awards.

• Net profit for H1 2025 reached 41.0 billion TL, up from 39.0 billion TL in the same period last year.

• Total assets increased to 4.65 trillion TL as of June 2025, compared to 3.86 trillion TL at year-end 2024.

• Shareholders' equity rose to 422.4 billion TL from 372.7 billion TL at year-end 2024.

Financial highlights

• Net interest income increased fourfold year-over-year in Q2 and reached 119.8 billion TL for H1 2025, up from 72.4 billion TL in H1 2024.

• Net fees and commissions income rose 46.2% year-over-year to 59,745 million TL, with quarterly growth over 22%.

• Total assets expanded 19.6% year-to-date, reaching 4.65 trillion TL as of June 2025.

• Loans grew 22.0% year-to-date, and deposits rose 23.7% year-to-date, with total deposits at 2.71 trillion TL.

• Cash and cash equivalents at period end were 434.3 billion TL, up from 305.2 billion TL a year earlier.

Outlook and guidance

• Revised 2025 guidance: TL loan growth ~35%, NIM expansion ~350 bps, net fees & commissions growth ~50%, OPEX growth ~30%, NPL ratio ~3%, net cost of risk ~200 bps, CAR (w/o forbearance) >15%, ROAE ~25%.

• Policy rate expected to end year at 35%, with annual inflation slightly below 30% for 2025.

• Moderate economic growth of around 3% anticipated for 2025.

• Comprehensive income for H1 2025 was 57.9 billion TL, up from 33.5 billion TL in H1 2024.