Halkbank Beats Forecasts with TL8.2bn Q2 Net Profit

Halkbank posted a TL8.2 billion net profit for Q2 2026, surpassing analysts’ consensus of TL7 billion and underscoring the bank’s resilient earnings profile.

Balance Sheet Expansion

Total assets grew 6.5% quarter‑on‑quarter to TL4.7 trillion, reflecting a 29% year‑on‑year expansion.

■TL4.7 trillion total assets (+6.5% QoQ)

■Year‑on‑year asset growth 29%

■Securities portfolio TL1.2 trillion, 37% CPI‑linked bonds

Credit Portfolio Momentum

The loan book reached TL2.2 trillion, up 9% QoQ and 40% YoY, indicating strong credit demand.

■TL2.2 trillion loan portfolio

■QoQ increase 9%

■YoY growth 40%

■Non‑performing loans at 3.7%, up 20 basis points

Income‑Expense Balance Sheet

Gross interest income stood at TL279 billion against interest expense of TL235.8 billion, delivering a net interest income of TL43.2 billion (+83% YoY). Net interest margin slipped to 3.3%, a 10‑bp decline.

■Net interest income TL43.2 billion, +83% YoY

■Net interest margin 3.3% (‑10 bp)

■Fee and commission income TL19 billion, +12% QoQ, +32% YoY

■Cost‑to‑income ratio 70.3%, up 7.5 pp

Profitability and Capital Strength

Return on equity fell to 14.3%, while the capital adequacy ratio remained at 14%.

■ROE 14.3% (‑310 bp)

■Capital adequacy ratio 14%

■Non‑performing loan ratio 3.7% (+20 bp)

■Funding costs rising, pressuring deposit rates

Halkbank’s results demonstrate that robust loan growth and a CPI‑linked securities mix helped it beat profit expectations. Nonetheless, the narrowing loan‑deposit spread and the dip in ROE signal higher funding pressures and a need for tighter credit risk oversight. The ongoing tightening of SME financing could temper the bank’s growth outlook in the near term.