Turkiye Vakiflar Bankasi Turk Anonim Ortakligi · BIST:VAKBN
Turkiye Vakiflar Bankasi Turk Anonim Ortakligi — Türkiye Vakıflar Bankası T.A.O. (VakıfBank) — H1 2025 Earnings Presentation
26 slides from Turkiye Vakiflar Bankasi Turk Anonim Ortakligi's earnings presentation, Aug 7, 2025
Slide 1: Earnings Presentation BRSA Bank-Only 1H25
Earnings Presentation BRSA Bank-Only 1H25 August 7, 2025
Slide 2: 2Q25 Earnings and profitability
Earnings Presentation Bank-Only 1H25 2Q25 Earnings and profitability Annual Net Income (TL billion) Quarterly Net Income (TL billion) 57% 40% vs. 30.0 sector avg. of 20.0 35% vs. Adj w/free sector avg. of 19.2 provisions 5% 11.0 reversal contraction QoQ 10.0 TL 4 billion 7.2 free provisions in the b
Slide 3: Key highlights of 1H25
Earnings Presentation Bank-Only 1H25 Key highlights of 1H25 Further improved profitability TL 30 1H25 net income materialized at Net income increased by 57% YoY vs 25.8% 1H25 ROAE came at 57% YoY billion TL 30 billion sector average of 35% 25.8% vs 1H24 ROAE of 21.2% Best-in-class quarterly NIM impr
Slide 4: 2Q25 P&L details
Earnings Presentation Bank-Only 1H25 2Q25 P&L details 2Q25 vs. 1H25 QoQ TL million TL million YoY 33% 27,961 Net Interest 48,979 35% Income Free Provisions 13% 17,346 Net Fees and 32,716 55% Commissions YE22 TL 19 billion 30576% 514 Dividend 516 352% 2Q23 -TL 12.3 billion* Income 4,214 Net Trading 4
Slide 5: Best-in-class quarterly NIM improvement driven by TL core spread expansion and CPI revaluation increase
Earnings Presentation Bank-Only 1H25 Best-in-class quarterly NIM improvement driven by TL core spread expansion and CPI revaluation increase CPI Expectation Net Interest Margin +61 bps QoQ improvement 2Q25 NIM would be: 3.29% 2.93% 3.16% 2.77% NIM 2.41% 2.29% 2.82% 2.59% 2.32% 1.14% With 28.5% Oct-O
Slide 6: Stellar fee & commission income growth
Earnings Presentation Bank-Only 1H25 Stellar fee & commission income growth Net F&C Income Breakdown (TL billion) 55% Insurance Insurance 4.6% vs. 5.2% Cash Loans sector avg. of Cash Loans 48% 34.9% 33.0% 32.7 1H24 Payment 1H25 Payment Systems Systems 21.1 17.3 52.6% 50.5% 15.4 9.2% 10.0% Non-Cash N
Slide 7: Visible further improvement on cost ratios driven by profitability
Earnings Presentation Bank-Only 1H25 Visible further improvement on cost ratios driven by profitability Opex (TL billion) Cost / Income (%) vs. sector avg. of 52.6 39.7 40.2 41% 38.3 32.5 1H24 2024 1H25 28.2 24.4 38.3% 41% 2.5% 3.2% 1H24 1Q25 2Q25 1H25 HR Cost (TL billion) Non-HR Cost (TL billion) 3
Slide 8: Ongoing lending growth on selective areas
Earnings Presentation Bank-Only 1Q25 Ongoing lending growth on selective areas Portfolio Breakdown VB Sector VB Sector QoQ Loan Growth Ytd growth: 20% QoQ (%) QoQ (%) Ytd (%) Ytd (%) Total Loan Growth 8.9 10.9 21.4 21.8 2Q25 11% Com.&Corp. 1Q25 8% TL Loan Growth 8.0 10.0 17.4 18.1 52% TL 1,267 4Q24
Slide 9: Breakdown of loan portfolio
Earnings Presentation Bank-Only 1H25 Breakdown of loan portfolio Currency Breakdown Loan / Deposit Ratio (%) Loans/Deposits 80 79 85 83 85 62% 38% 118 113 108 TL Loans FC Loans ($) 95 84 87 74 69 73 72 8% 8% 9% 8% 8% 7% QoQ Growth 5% 5% 3Q24 4Q24 1Q25 2Q25 3Q24 4Q24 1Q25 2Q25 3Q24 4Q24 1Q25 2Q25 TL
Slide 10: Higher-than-budgeted net CoR reflects conservative provisioning policy
Earnings Presentation Bank-Only 1H25 Higher-than-budgeted net CoR reflects conservative provisioning policy NPL (TL million) Stage II Loans Breakdown (TL billion) 8.3 9.1 7.9 7.9 Share in total 4,151 loans (%) 20,009 9 62,649 Commercial 222.1 Total Stage II 18% & Corp. Loans 46,799 186.7 SME 35% 158
Slide 11: TL deposit portfolio exceeded TL 2 trillion level for the first time
Earnings Presentation Bank-Only 1H25 TL deposit portfolio exceeded TL 2 trillion level for the first time Total Deposits (TL billion) Breakdown of Deposits 36% 72% 62% 2,925 38% 2,633 28% 2,538 Sector 2,152 831 674 721 $ 20.9 FC TL Deposits FC Deposits TL Deposits FC Deposits $ 19.0 $ 19.0 702 TL Sh
Slide 12: Strong penetration across all segments thanks to sector-leading products
Earnings Presentation Bank-Only 1H25 Strong penetration across all segments thanks to sector-leading products V-PART Total volume of FX money V-PART enables non-retail transfers is 20% customers with high-volume foreign trade transactions to ~USD 25 billion in 1H25 Biggest trade house in Türkiye vs.
Slide 13: Ytd international funding amount: USD 8.5 billion
Earnings Presentation Bank-Only 1H25 Ytd international funding amount: USD 8.5 billion Breakdown of International Funding Tier II Eurobond Private Placement 3.2% 11.4% 16.3% Short term $7.8 billion Syndication Other International 8.9% Funding 0.5% Long term $14.1 billion USD 21.9 Repo billion as of
Slide 14: Solvency ratios
Earnings Presentation Bank-Only 1H25 Solvency ratios Capital Adequacy Ratio (%) Bank-only + + Required CET1 solvency w/o BRSA CET I 10.54 10.73 11.06 9.57 10.03 ratios w/o Incl. free prov. İmpact forbearance level 8.5% (%) BRSA (Bank-only) consolidated forbearance solvency ratios Required Tier I Tie
Slide 15: Appendix
Earnings Presentation Bank-Only 1H25 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 1H25 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 1H25 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 1H25 Sustainable customer base thanks to enhanced digital platforms ATMs Branch Call Center Digital banking customers (mn)* 11% 7% 1% 8.1 8.3 7.6 6.7 6.0 Mobile 31% 2Q25 Banking 38% 50% Internet Banking 2021 2022 2023 2024 2Q25 54,162 daily average call 93% Non-branch
Slide 19: Composition of asset & liabilities
Earnings Presentation Bank-Only 1H25 Composition of asset & liabilities Breakdown of Assets (%) Currency Breakdown of Total Assets Total assets exceeded 2Q25 Other TL 4.5 trillion 21.1 Loans The biggest listed bank Interbank 39% 53.6 in terms of 2Q25 61% 1.8 asset size with 11.5%* market share Secur
Slide 20: Well positioned TL security portfolio
Earnings Presentation Bank-Only 1H25 Well positioned TL security portfolio Total Securities (TL billion) Portfolio Structure 44% 1% 1% 1,072.5 1,007.8 915.4 8.7% 39% 47% 743.3 395.7 505.4 382.6 52% 60% 332.4 5.4 2.4 8.2 5.8 530.4 606.7 558.9 1Q25 2Q25 405.1 Trading AFS HTM Trading AFS HTM 2Q24 4Q24
Slide 21: Breakdown of retail loan portfolio
Earnings Presentation Bank-Only 1H25 Breakdown of retail loan portfolio General Purpose Consumer (TL billion) Residential Mortgages (TL billion) Credit Card Loans (TL billion)* 12% 13% 32% 109.2 240.7 103.9 223.1 97.3 182.1 85.7 58.3 57.4 53.0 50.9 151.5 2Q24 4Q24 1Q25 2Q25 2Q24 4Q24 1Q25 2Q25 2Q24
Slide 22: Diversified funding sources via non-deposit funding
Earnings Presentation Bank-Only 1H25 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 3.6 billion outstanding May’25: USD 1 billion equivalent syndicated loan,
Slide 23: Unconsolidated Key Financial Ratios
Earnings Presentation Bank-Only 1H25 Unconsolidated Key Financial Ratios 1H24 2024 1Q25 2Q25 1H25 Profitability ROAE 21.2% 20.7% 35.4% 16.7% 25.8% ROAA 1.3% 1.2% 2.0% 0.9% 1.4% Cost / Income 39.7% 40.2% 32.2% 45.9% 38.3% Cost / Avg. Assets 2.2% 2.2% 2.4% 2.6% 2.5% Fee / Cost 65.1% 63.4% 63.0% 61.5%
Slide 24: Unconsolidated Balance Sheet
Earnings Presentation Bank-Only 1H25 Unconsolidated Balance Sheet (TL thousand, %) 2Q24 1Q25 2Q25 TL USD USD USD USD TL TL TL YoY QoQ YoY QoQ equivalent equivalent equivalent Cash & Balances with Central 591,900,126 18,041,720 645,729,359 16,989,498 794,062,027 19,954,446 34.2% 23.0% 10.6% 17.5% Ban
Slide 25: Unconsolidated Income Statement
Earnings Presentation Bank-Only 1H25 Unconsolidated Income Statement (TL thousand, %) 1H24 1Q25 2Q25 1H25 YoY QoQ Net Interest Income 36,327,630 21,017,161 27,961,420 48,978,581 34.8% 33.0% Swap Cost -20,971,564 890,470 -3,203,273 -2,312,803 (89.0%) (459.7%) Net Fee & Com. Income 21,134,778 15,370,4
Slide 26: 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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