ASSESSMENT OF OUR FINANCIAL PERFORMANCE

The Bank, which commenced its activities in the last quarter of 2024, began executing a significant portion of its targeted commercial banking operations in 2025, opened 11 branches across Türkiye, and enhanced its human capital by continuing to recruit qualified personnel.

In 2025, the Bank’s total assets increased sixfold compared to the previous year, reaching TL 47 billion. This growth was primarily driven by the expansion in loan volume.

A significant portion of the Bank’s total loan volume, which reached TL 58.5 billion as of the end of the period, consisted of CBRT Rediscount loans, which are in high demand from exporters. Additionally, the cash loan balance extended to exporters increased from TL 2.4 billion at the end of the previous period to TL 26 billion.

As of the end of the period, efforts to establish credit limits for exporters continued rapidly. The total financing provided to exporting companies, including both cash and non-cash financing, amounted to TL 76.3 billion during the period.

The year 2025 was a period of intense activity for the Bank, focused on completing investments in both property, plant, and equipment, as well as software and licenses, to continue its operations without interruption. The net value of these investments increased from TL 653 million at the beginning of the year to TL 1,364 million at year-end.

In addition to its lending activities, the Bank continued its efforts in deposits collection. Deposit-gathering activities also showed steady growth throughout the year, with the period-end deposits balance reaching TL 35.6 billion, predominantly in foreign currency. The deposits volume increased ninefold year-to-date, which positively impacted the bank’s funding costs.

Within the framework of these business volumes, total interest income of TL 4 billion was generated during the period, of which TL 2.9 billion was interest on loans, while interest expense amounted to TL 1.4 billion. Based on these figures, net interest income reached TL 2.6 billion, an 800% increase compared to the previous year-end.

Commission income increased from TL 13 million in 2024 to TL 206 million, and the strengthening of non-interest income contributed to the Bank having a more balanced and sustainable revenue structure. With the contribution of trading profit/loss and other operating income, the Bank’s gross income reached TL 2.9 billion during the period.

In 2025, the application of the TFRS 9 standard for loan provisions began, and the total expense impact of loan provisions set aside during the year on the period-end financial statements was TL 223 million.

While the Bank closed 2024 with a loss of TL 224 million due to its investments and the commencement of its activities in the last quarter of the year, it became profitable in the first quarter of 2025 in line with the aforementioned financial developments. It continued to steadily increase its profitability ratios in the following periods, closing the year with a net profit of TL 560 million. Maintaining a strong equity structure is crucial for the healthy, sustainable, and growth-oriented continuation of banking activities. In this context, it is planned to retain profits to strengthen the capital adequacy ratio and preserve the equity buffer against risks that increase in parallel with asset growth.

As a result of two General Assemblies held in 2025, the Bank’s paid-in capital was increased from TL 3,234 million at the beginning of the period to TL 9,234 million as of December 31, 2025. Within the framework of the equity-related factors mentioned and the risk-weighted asset calculations arising from the business volumes discussed above, our period-end standard capital adequacy ratio was 20.70%.

Thanks to its strong capital structure, balanced growth strategy, and effective risk management, the Bank achieved sustainable profitability in 2025. In the upcoming period, it aims to support the sustainable growth of the export ecosystem, increase the value-added it provides to the national economy, and create value for its stakeholders.