Turkiye Vakiflar Bankasi Turk Anonim Ortakligi · BIST:VAKBN
Turkiye Vakiflar Bankasi Turk Anonim Ortakligi — Türkiye Vakıflar Bankası T.A.O. (VakıfBank) — Q1 2026 Earnings Presentation
25 slides from Turkiye Vakiflar Bankasi Turk Anonim Ortakligi's earnings presentation, May 6, 2026
Slide 1: 1Q26 Earnings Presentation
1Q26 EARNINGS PRESENTATION Based on BRSA Unconsolidated Financials May 6th, 2026
Slide 2: Conservative CPI valuation & outstanding free provisions provide potential net income base
Earnings Presentation Bank-Only 1Q26 Conservative CPI valuation & outstanding free provisions provides potential net income base to offset uncertainty Annual Net Income (TL billion) ROAE % 20.0 35.4 15.0 28.2 Outstanding 25.9 TL 8 billion 18.4 9.0 free provisions 16.0 1Q25 1Q25 adj.* 1Q26 1Q25 1Q25
Slide 3: NIM evolves in line with guidance despite conservative CPI estimate
Earnings Presentation Bank-Only 1Q26 NIM evolves in line with guidance despite conservative CPI estimate CPI Expectation Net Interest Margin Assuming with %25 CPI estimate 4.6 4.9 4.1 4.4 Vs. ~4.5% 3.7 3.4 2026 FY expectation 2.3 2.4 1Q25 2025 1Q26 1Q26 adj. NIM Swap Adj NIM Total Money Market Fundi
Slide 4: Solid annual fee growth contributed to outperform core banking revenue generation
Earnings Presentation Bank-Only 1Q26 Solid annual fee growth contributed to outperform core banking revenue generation Net F&C Income (TL billion) Net F&C Composition (%) Insurance Flattish QoQ 4.8% 26% YoY Cash Loans 19.4 19.3 35.3% 15.4 1Q26 Payment TL 19.3 bn Systems 49.8% Non-Cash Loans 10.6% 1Q
Slide 5: Promotion expenses weigh on annual opex growth; yet to decline
Earnings Presentation Bank-Only 1Q26 Promotion expenses weigh on annual opex growth; yet to decline in upcoming periods Opex Breakdown (%) Opex Breakdown (%) Opex (TL billion) 12% QoQ Advertisement 60% YoY Advertisement Maintenance Maintenance 1 39.0 2 17 &Others &Others 19 34.7 HR 38 HR 24.4 36 11
Slide 6: Selective loan growth with well-managed risk-return focus
Earnings Presentation Bank-Only 1Q26 Selective loan growth with well-managed risk-return focus Portfolio Breakdown QoQ Loan Growth 1Q26 6% YoY growth: Total Loans Com.&Corp. 36% TL Loans 4Q25 7% 50% TL 1,550 billion FC Loans ($) 3Q25 7% Non-retail loans 2Q25 11% Retail loans YoY growth: 49% 30% 1Q26
Slide 7: With well-balanced loan portfolio
Earnings Presentation Bank-Only 1Q26 With well-balanced loan portfolio Currency Breakdown Loan / Deposit Ratio (%) Loans/Deposits 83 85 85 91 88 61% 39% 113 110 110 112 TL Loans FC Loans ($) 95 74 75 81 79 72 6% QoQ Growth 5% 10% 10% 4% 8% 3% 4% 2Q25 3Q25 4Q25 1Q26 2Q25 3Q25 4Q25 1Q26 2Q25 3Q25 4Q25
Slide 8: Limited yet increased and expected levels of NPL ratio
Earnings Presentation Bank-Only 1Q26 Limited yet increased and expected levels of NPL ratio NPL (TL million) NPL Ratios (%) 18,797 6,615 9 99,397 Average of NPL 3.61 3.68 ratio between 87,224 Commercial 2008-2019**: 12% & Corp. Sector* 3.21 4.3% 35% SME 2.90 3.12 53% Retail 2.05 1Q25 4Q25 1Q26 NPL 4
Slide 9: Prudent provisioning risk management policy & steady increased coverage ratios
Earnings Presentation Bank-Only 1Q26 Prudent provisioning risk management policy & steady increased levels of coverage ratios Coverage Ratios (%) 61.7 63.3 0.5 0.5 Stage III Stage I 12.6 3.4 3.6 Stage II 11.2 Total Coverage 4Q25 1Q26 4Q25 1Q26 Net Expected Credit Losses (TL billion) Net Cost of Risk
Slide 10: Deposit portfolio shifted in favor of more granular base
Earnings Presentation Bank-Only 1Q26 Deposit portfolio shifted in favor of more granular base Total Deposits (TL billion) Breakdown of Deposits 29% 69% 59% 3,449 3,404 31% 41% Sector 1,010 1,067 2,633 ‘Precious TL Deposits FC Deposits 356.2 434.7 metal ’ TL Deposits FC Deposits 721 175.9 FC TL 67% S
Slide 11: Ytd international funding exceeded USD 2.9 billion
Earnings Presentation Bank-Only 1Q26 Ytd international funding exceeded USD 2.9 billion Breakdown of International Funding Short term Long term $7.4 billion $16.7 billion Tier II Eurobond International Funding 2.9% 10.4% Private Placement Syndication 14.3% In March, EUR 1.5 billion fresh funding via
Slide 12: Solvency ratios
Earnings Presentation Bank-Only 1Q26 Solvency ratios Capital Adequacy Ratio (%) CET I 9.1 10.0 9.4 Required CET I Consolidated CET1 ratio is level 8.5% ~35 bps higher than bank-only CET1 ratio Tier I 11.2 12.6 11.9 Required Tier I level 10% 13.5 14.8 14.1 BRSA Rec. 12% The effect of The effect of +/
Slide 13: Appendix
Earnings Presentation Bank-Only 1Q26 Appendix Pg. 14 Sustainable banking approach Pg. 15 Sustainable loan products Pg. 16 Sustainable customer base thanks to enhanced digital platforms Pg. 17 Composition of asset & liabilities Pg. 18 Well positioned TL security portfolio Pg. 19 Breakdown of retail l
Slide 14: Sustainable banking approach
Earnings Presentation Bank-Only 1Q26 Sustainable banking approach Indices & initiatives Sustainability Ratings Firsts in sustainable banking The first Turkish bank to have its targets validated by Total ESG Score: 60 in 2025 Science Based Targets initiative (SBTi) Scope 3 Scope 3 Scope 1 Electricity
Slide 15: Sustainable Loans & Products
Earnings Presentation Bank-Only 1Q26 Sustainable Loans & Products Women in Business Loan Environment-Friendly Auto Loan For a business that is managed or owned by For retail customers; hybrid and electrical vehicles women, having less than 250 employees and which have much less carbon emissions. com
Slide 16: Sustainable customer base thanks to enhanced digital platforms
Earnings Presentation Bank-Only 1Q26 Sustainable customer base thanks to enhanced digital platforms ATMs Branch Call Center Digital banking customers (mn)* 9% 7% 1% 8.6 8.8 8.1 7.6 6.7 Mobile 31% 1Q26 Banking 31% 52% Internet Banking 2022 2023 2024 2025 1Q26 49,971 daily average call 93% Non-branch
Slide 17: Composition of asset & liabilities
Earnings Presentation Bank-Only 1Q26 Composition of asset & liabilities Breakdown of Assets (%) Currency Breakdown of Total Assets and Liabilities Other 20.6 Assets The share of IEAs Interbank 86% Loans 1.9 55.6 in total assets 38% 62% 1Q26 The biggest listed bank in 1Q26 terms of asset size with Se
Slide 18: Well positioned TL security portfolio
Earnings Presentation Bank-Only 1Q26 Well positioned TL security portfolio Total Securities (TL billion) Portfolio Structure 21% 1% 1,199.7 1,217.1 1% 1,007.8 39% 58% 41% 657.1 707.5 60% 395.7 5.4 9.5 9.8 1Q25 1Q26 606.7 533.1 499.8 Trading AFS HTM Trading AFS HTM 1Q25 4Q25 1Q26 AFS Trading HTM Secu
Slide 19: Breakdown of retail loan portfolio
Earnings Presentation Bank-Only 1Q26 Breakdown of retail loan portfolio Total Retail (TL billion) Breakdown of Retail Loans 28% Auto QoQ YoY 0.2% 607.3 Overdraft GPC 578.9 1.3 Auto 23% 25% (27%) (68%) 1.8 64.9 Mortgage 4% 11% 62.4 473.4 1Q26 4.1 154.7 GPC 8% 49% 58.3 143.2 11% Mortgage 103.9 Credit
Slide 20: Diversified funding sources via non-deposit funding
Earnings Presentation Bank-Only 1Q26 Diversified funding sources via non-deposit funding Subordinated Bonds & Eurobonds TL 4,250 million & USD 700 million outstanding Tier II and TL 5 billion & EUR 700 million & USD 1,050 million outstanding AT1 Instrument ISIN Issuance Date Amount (million) Currenc
Slide 21: Unconsolidated Key Financial Ratios
Earnings Presentation Bank-Only 1Q26 Unconsolidated Key Financial Ratios 1Q25 4Q25 1Q26 Profitability ROAE 35.4% 38.4% 18.4% ROAA 2.0% 2.2% 1.1% Cost / Income 32.2% 37.1% 45.5% Cost / Avg. Assets 2.4% 2.7% 2.9% Fee / Cost 63.0% 55.8% 49.6% NIM 2.3% 6.0% 4.6% Swap-adj NIM* 2.4% 5.4% 4.1% Liquidity Lo
Slide 22: Unconsolidated Balance Sheet
Earnings Presentation Bank-Only 1Q26 Unconsolidated Balance Sheet (TL million, %) 1Q25 4Q25 1Q26 TL USD USD USD TL TL TL USD equivalent YoY QoQ YoY QoQ equivalent equivalent Cash & Balances with 645,729 16,989 897,166 20,881 843,521 18,964 30.63% (5.98%) 11.62% (9.18%) Central Bank Interbank 141,744
Slide 23: Unconsolidated Income Statement
Earnings Presentation Bank-Only 1Q26 Unconsolidated Income Statement (TL million, %) 1Q25 4Q25 1Q26 YoY QoQ Net Interest Income 21,017 66,325 53,849 156.2% (18.8%) Swap Cost * 890 -5,960 -5,368 (702.8%) (9.9%) Net Fee & Com. Income 15,370 19,373 19,338 25.8% (0.2%) Dividend Income 2 7 386 22939.4% 5
Slide 24: 1Q26 P&L details
Earnings Presentation Bank-Only 1Q26 1Q26 P&L details YoY 1Q25 1Q26 TL million vs. TL million QoQ Total free provisions in 1Q26: TL 8 billion 156% 21,017 Net Interest 53,849 (19%) Income Free Provisions 26% Net Fee and 19,338 0% YE22 TL 19 billion 15,370 Commissions 2 2Q23 -TL12.3 billion* 22939% Di
Slide 25: For Earnings Presentations: Investor Relations
For Earnings Presentations: A member of BIST Sustainability Index Investor Relations Finanskent Mahallesi Finans Caddesi No:40/1 Ümraniye / İstanbul E-mail: investorrelations@vakifbank.com.tr Tel (90-216) 724 2685 Fax (90-216) 724 3941 www.vakifbank.com.tr Disclaimer Notice: This report has been pre
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