Yapı Kredi's Profit Exceeded Expectations

Yapı Kredi's profit exceeded expectations. Yapı Kredi's first quarter net profit was recorded as 1.45 billion liras.

In the first quarter of the year, Yapı Kredi's net profit was recorded as 1.45 billion Turkish lira. According to analyst expectations compiled by Bloomberg, the first quarter profit was estimated to be 1.35 billion TL. While the net interest income of the bank in the first quarter decreased by 6.5 percent compared to the same period of the previous year, it was 3.71 billion TL, while its net fee and commission income increased by 16 percent compared to the same period of the previous year and reached 1.65 billion TL. Yapı Kredi CEO Gökhan Erün made the following statements in his assessment on the subject: "In the first three months of 2021, when the pandemic effect continued, we increased our financial support to the economy and people of our country with a resource of 421.5 billion TL. Despite all the uncertainties created by the pandemic, we managed to increase our asset size by 23 percent to 534.7 billion TL. On the other hand, our market share in cash loans was 16.6 percent among private banks and 15.2 percent in customer deposits. Then we will continue to contribute to our country and society with our understanding of customer-oriented service and social responsibility. "