Yapi ve Kredi Bankasi (YKBNK) Q3 2025 earnings summary

Executive summary

• Net profit for the first nine months reached TL 37.8 billion, up 69% year-over-year, with strong core revenue growth and improved profitability metrics.

• Return on tangible equity stood at 23.7% and return on assets at 1.7% for the period.

• Core revenues rose 91% year-over-year, supported by robust net interest income and fee growth.

• Asset quality outperformed peers, with net NPL inflows declining for the fifth consecutive quarter and NPL ratio at 3.3–3.4%.

• The Group maintained strong liquidity, with total and foreign currency liquidity coverage ratios at 125% and 308%, respectively.

Financial highlights

• Revenues increased 23% quarter-on-quarter to TL 59 billion and 82% year-over-year to TL 153 billion.

• Net interest income including swap costs rose 258% year-over-year to TL 49.6 billion.

• Net fees and commissions income grew 50% year-over-year to TL 84.2 billion.

• Operating expenses increased 52% year-over-year, with fee coverage over OpEx at 97% for the first nine months.

• Pre-provision profit surged 145% year-over-year to TL 66.7 billion.

Outlook and guidance

• Guidance maintained for 2025: TL loan growth below inflation, mid-teens growth in FX loans.

• NIM improvement of 200–225 bps expected, with actual +130 bps year-to-date.

• Fee growth guidance at ≥40%, with 50% achieved year-to-date.

• Cost of risk expected between 125–175 bps in 2026.

• ROTE expected in the mid-twenties, with 23.7% achieved.