Turkiye Vakiflar Bankasi Turk Anonim Ortakligi · BIST:VAKBN
Turkiye Vakiflar Bankasi Turk Anonim Ortakligi — Türkiye Vakıflar Bankası T.A.O. (VakıfBank) — Q3 2025 Earnings Presentation
26 slides from Turkiye Vakiflar Bankasi Turk Anonim Ortakligi's earnings presentation, Nov 6, 2025
Slide 1: Earnings Presentation BRSA Bank-Only 3Q25
Earnings Presentation BRSA Bank-Only 3Q25 November 6, 2025
Slide 2: 3Q25 Earnings and profitability
Earnings Presentation Bank-Only 3Q25 3Q25 Earnings and profitability Annual Net Income (TL billion) Quarterly Net Income (TL billion) 54% vs. 48% 42.0 sector avg. of 45% 20.0 Free provision 11.0 reversal Sizeable impact from 11.9 27.2 interest income from CPI 10.0 linkers in 4Q25 8.0 TL 4 billion fr
Slide 3: Key highlights of 9M25
Earnings Presentation Bank-Only 3Q25 Key highlights of 9M25 Accelerating growth and profitability TL 42 9M25 net income materialized Quarterly net income increased 23.2% 9M25 ROAE came at 23.2% vs 9M24 19% QoQ by 19%, reaching TL 11.9 billion billion at TL 42 billion, which is up by ROAE of 19.5% 54
Slide 4: 3Q25 P&L details
Earnings Presentation Bank-Only 3Q25 3Q25 P&L details 3Q25 9M25 QoQ TL million vs. TL million YoY 33% Net Interest 86,059 53% 37,080 Income Free Provisions 19% 20,605 Net Fees and 53,321 61% Commissions YE22 TL 19 billion (100%) 2 Dividend 518 348% 2Q23 -TL 12.3 billion* Income Net Trading 4Q23 +TL
Slide 5: Ongoing NIM improvement & visible annual TL core spread expansion
Earnings Presentation Bank-Only 3Q25 Ongoing NIM improvement & visible annual TL core spread expansion CPI Expectation Net Interest Margin* 3Q25 NIM would be: 3.61% ~4.7% 2.93% 2.69% 2.41%** 4.2% NIM 3.07% Swap Adj. 2.59% With 32.9% NIM 2.12% 2.32% Oct-Oct realized CPI 3Q24 1Q25 2Q25 3Q25 Additional
Slide 6: Sustained fee & commission income growth with ongoing contribution of payment systems
Earnings Presentation Bank-Only 3Q25 Sustained fee & commission income growth with ongoing contribution of payment systems Net F&C Income Breakdown (TL billion) 61% Insurance Insurance vs. 4.7% 4.9% Cash Loans sector avg. of 53.3 Cash Loans 34.5% 50% YoY 14% QoQ 34.9% Payment Payment Systems 9M24 33
Slide 7: Operating expenses
Earnings Presentation Bank-Only 3Q25 Operating expenses Opex (TL billion) Opex Breakdown (%) Cumulative 63% Advertisement 83.3 2 Others 32.2 HR 18 51.2 HR 40 Maintenance 1 20.7 9M25 Non-HR 12 Regulatory 51.1 30.6 3 9M24 9M25 25 Depreciation Promotional Expenses Quarterly 9% 30.7 28.2 Cost / Income (
Slide 8: Total loan portfolio exceeded TL 2.5 trillion level
Earnings Presentation Bank-Only 3Q25 Total loan portfolio exceeded TL 2.5 trillion level Portfolio Breakdown VB Sector VB Sector QoQ Loan Growth Ytd growth: 28% QoQ (%) QoQ (%) Ytd (%) Ytd (%) Total Loan Growth 9.1 8.6 32.5 32.3 3Q25 7% Com.&Corp. 2Q25 11% TL Loan Growth 9.8 9.8 28.9 29.6 51% TL 1,3
Slide 9: Breakdown of loan portfolio
Earnings Presentation Bank-Only 3Q25 Breakdown of loan portfolio Currency Breakdown Loan / Deposit Ratio (%) Loans/Deposits 79 85 83 85 85 62% 38% 118 113 108 110 TL Loans FC Loans ($) 86 84 69 73 72 74 8% QoQ Growth 5% 5% 9% 10% 8% 8% 3% 4Q24 1Q25 2Q25 3Q25 4Q24 1Q25 2Q25 3Q25 4Q24 1Q25 2Q25 3Q25 T
Slide 10: Strong collections & normalisation of asset quality metrics
Earnings Presentation Bank-Only 3Q25 Strong collections & normalisation of asset quality metrics NPL (TL million) Stage II Loans Breakdown (TL billion) 9.1 8.8 8.0 7.9 Share in total loans (%) 19,175 10 5,925 75,889 233.8 Total Stage II 222.1 Loans Commercial 62,649 14% & Corp. 77.5 SICR 37% SME 158
Slide 11: Total deposit portfolio exceeded TL 3 trillion level for the first time
Earnings Presentation Bank-Only 3Q25 Total deposit portfolio exceeded TL 3 trillion level for the first time Total Deposits (TL billion) Breakdown of Deposits 23% 71% 61% 3,132 29% 39% 2,925 Sector 2,538 831 918 2,305 TL Deposits FC Deposits TL Deposits FC Deposits 674 $ 20.9 $ 22.1 FC 708 $ 19.0 TL
Slide 12: Strong penetration across all segments thanks to sector-leading products
Earnings Presentation Bank-Only 3Q25 Strong penetration across all segments thanks to sector-leading products V-PART Total volume of FX money V-PART enables non-retail transfers is 19% Biggest trade house in Türkiye customers with high-volume foreign trade transactions to ~USD 36 billion in 9M25 vs.
Slide 13: Ytd international funding amount: USD 11.4 billion
Earnings Presentation Bank-Only 3Q25 Ytd international funding amount: USD 11.4 billion Breakdown of International Funding Tier II Eurobond Private Placement 3.1% 14.4% 16.5% Short term $8.3 billion Secured Syndication International Transactions 8.7% Funding 0.4% Long term $14.2 billion USD 22.5 Rep
Slide 14: Solvency ratios
Earnings Presentation Bank-Only 3Q25 Solvency ratios Capital Adequacy Ratio (%) Bank-only solvency w/o BRSA + + ratios w/o Incl. free prov. İmpact forbearance (%) BRSA (Bank-only) consolidated CET I 9.57 10.03 10.01 Required CET1 forbearance solvency ratios 10.73 11.06 level 8.5% Required Tier I CET
Slide 15: Appendix
Earnings Presentation Bank-Only 3Q25 Appendix Pg. 16 Sustainable banking approach Pg. 17 Sustainable loan products Pg. 18 Sustainable customer base thanks to enhanced digital platforms Pg. 19 Composition of asset & liabilities Pg. 20 Well positioned TL security portfolio Pg. 21 Breakdown of retail l
Slide 16: Sustainable banking approach
Earnings Presentation Bank-Only 3Q25 Sustainable banking approach Indices & initiatives Sustainability Ratings Firsts in sustainable banking The first Turkish bank to have its targets validated by Total ESG Score: 52 in 2024 Science Based Targets initiative (SBTi) Scope 3 Scope 3 Scope 1 Electricity
Slide 17: Sustainable Loans & Products
Earnings Presentation Bank-Only 3Q25 Sustainable Loans & Products Women in Business Loan Green Mortgage Loan Earthquake Support Loans Supporting the reduction of For a business that is managed Energy Efficiency Loans For retail customers affected by or owned by women, having residential energy consu
Slide 18: Sustainable customer base thanks to enhanced digital platforms
Earnings Presentation Bank-Only 3Q25 Sustainable customer base thanks to enhanced digital platforms ATMs Branch Call Center Digital banking customers (mn)* 10% 7% 1% 8.4 8.1 7.6 6.7 6.0 Mobile 3Q25 Banking 32% 41% 50% Internet Banking 2021 2022 2023 2024 3Q25 54,144 daily average call 93% Non-branch
Slide 19: Composition of asset & liabilities
Earnings Presentation Bank-Only 3Q25 Composition of asset & liabilities Breakdown of Assets (%) Currency Breakdown of Total Assets Total assets reached 3Q25 Other TL 5 trillion 20.7 Loans The biggest listed bank Interbank 38% 53.3 in terms of 62% 3.8 3Q25 asset size with 11.5%* market share Securiti
Slide 20: Well positioned TL security portfolio
Earnings Presentation Bank-Only 3Q25 Well positioned TL security portfolio Total Securities (TL billion) Portfolio Structure 37% 1,072.5 1,108.8 1% 1% 915.4 8.7% 47% 810.2 53% 505.4 588.9 46% 382.6 52% 345.3 2.4 8.2 9.2 2.3 530.4 558.9 510.7 2Q25 3Q25 462.6 Trading AFS HTM Trading AFS HTM 3Q24 4Q24
Slide 21: Breakdown of retail loan portfolio
Earnings Presentation Bank-Only 3Q25 Breakdown of retail loan portfolio Total Retail (TL billion) Breakdown of Retail Loans 33% Auto 534.6 QoQ Ytd Overdraft 0.4% 505.0 Auto (33%) (63%) 23% 1.9 GPC 2.9 58.0 Mortgage 23% 1% 14% 57.4 402.5 124.6 GPC 14% 28% 3Q25 5.3 109.2 345.7 50.9 Mortgage 5.6 50.7 O
Slide 22: Diversified funding sources via non-deposit funding
Earnings Presentation Bank-Only 3Q25 Diversified funding sources via non-deposit funding Sustainable-linked syndication Eurobonds and Private Placements USD 2 billion outstanding USD 3.3 billion outstanding Eurobonds and USD 3.7 billion outstanding May’25: USD 1 billion equivalent syndicated loan, S
Slide 23: Unconsolidated Key Financial Ratios
Earnings Presentation Bank-Only 3Q25 Unconsolidated Key Financial Ratios 9M24 2024 2Q25 3Q25 9M25 Profitability ROAE 19.5% 20.7% 16.7% 18.7% 23.2% ROAA 1.1% 1.2% 0.9% 1.0% 1.2% Cost / Income 42.7% 40.2% 45.9% 48.4% 41.5% Cost / Avg. Assets 2.1% 2.2% 2.6% 2.6% 2.5% Fee / Cost 64.7% 63.4% 61.5% 67.1%
Slide 24: Unconsolidated Balance Sheet
Earnings Presentation Bank-Only 3Q25 Unconsolidated Balance Sheet (TL thousand, %) 3Q24 2Q25 3Q25 TL USD USD USD USD TL TL TL YoY QoQ YoY QoQ equivalent equivalent equivalent Cash & Balances with Central 696,809,067 20,381,507 794,062,027 19,954,446 823,808,718 19,812,014 18.2% 3.7% -2.8% -0.7% Bank
Slide 25: Unconsolidated Income Statement
Earnings Presentation Bank-Only 3Q25 Unconsolidated Income Statement (TL thousand, %) 9M24 2Q25 3Q25 9M25 YoY QoQ Net Interest Income 56,116,929 27,961,420 37,080,177 86,058,758 53% 33% Swap Cost - 25,177,423 -3,203,273 - 5,560,935 - 7,873,738 (69%) 74% Net Fee & Com. Income 33,175,482 17,345,666 20
Slide 26: For Earnings Presentations:
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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