CarthagoTurkish banking data
DenizbankStandardized per-bank financials from quarterly BRSA reports
10th of 23 — upper half, 4.8pp over the target.
2.78pp above the median. The worst book in the field runs 6.7%.
| Metric | Q4 2025 | Q1 2026 | Δ |
|---|---|---|---|
| Capital adequacywhile assets grew 10.1% q/q | 19.6% | 16.8% | −2.77pp |
| Loan–deposit spread | 1.57% | 2.59% | +1.02pp |
| NPL ratio4 consecutive rises | 5.18% | 5.45% | +0.27pp |
| ROE (TTM) | 30.1% | 31.1% | +1.1pp |
Funded by depositors, not markets. Deposits cover 57% of the balance sheet.
| Loan / deposit — TL+FC | 102% | leans on wholesale · audited, quarterly |
| Assets per branch | ₺3.3bn |
Balance sheet · income statement · cash flow — as filed, y/y, real (CPI-deflated) or common-size against the sector. Plus the shape: composition, the profit waterfall and the interest flow.
3 statements · 4 lensesFX net open position and the ≤1y repricing gap from the §4 footnotes, with the audited capital stack and its buffer over the 12% minimum.
§4 footnotesShareholders ≥5% and the §7 subsidiary grid, from the KAP Genel Bilgi Formu — re-scraped weekly.
KAP7th of 21 — 6.6pp over the median and 0.7pp under inflation.
8th of 21. 0.38pp over the median margin.
6th of 21 — top quartile. 11.4pp better than the median: scale is earning its keep.
Capital step-down. CAR fell 2.8pp in a quarter to 16.8% — a 4.8pp buffer over the 12% target ratio, 20th of 37, while the balance sheet grew 10.1% q/q.Δcar_qoq < −1pp AND buffer < 8pp
Real returns. ROE 31.1% against 32.1% 12-month-average CPI: equity compounds a 0.9pp real loss.roe − cpi_12m_avg < 0
NPL drift. 4 consecutive quarterly rises, to 5.45%. Level and direction are both adverse. Stage-2 — the pre-NPL watchlist — sits at 10.4% of the book.consecutive_rise(npl) ≥ 4q
Chart data: 13 rows, Date from 2023-01-01 to 2026-01-01. Loan yield: 15.17 at the start, 27.22 at the end, ranging 15.17 to 27.8. Deposit cost: 7.38 at the start, 24.63 at the end, ranging 7.38 to 28.28. The full data follows as a table.
| Date | Loan yield | Deposit cost |
|---|---|---|
| 2023-01-01 | 15.16972991755628 | 7.381132286018268 |
| 2023-04-01 | 15.238608900279038 | 8.242383490495724 |
| 2023-07-01 | 15.622364183974591 | 9.764809389542759 |
| 2023-10-01 | 17.498491764205422 | 13.63544122730817 |
| 2024-01-01 | 20.10983113946819 | 17.95590032605894 |
| 2024-04-01 | 22.908808135103047 | 22.45196911677812 |
| 2024-07-01 | 25.594437048928903 | 25.834281914466857 |
| 2024-10-01 | 26.88051161213157 | 27.92591061002785 |
| 2025-01-01 | 27.510176725207604 | 28.277767220301907 |
| 2025-04-01 | 27.791655091584026 | 27.679844406701942 |
| 2025-07-01 | 27.804512322534965 | 27.433397656239677 |
| 2025-10-01 | 27.680250434724694 | 26.107602622797394 |
| 2026-01-01 | 27.221782384265854 | 24.631657866816248 |
| 578 branches |
| Assets per employee | ₺147mn | 12,993 staff |
| Leverage | 8.4× | assets ÷ equity |
| Stage 1 — performing | ₺939bn | 84.1% · 0.7% cover |
| Stage 2 — watchlist | ₺116bn | 10.4% · 12.7% cover |
| Stage 3 — NPL | ₺60.8bn | 5.4% · 62.4% cover |
Chart data: 13 rows, Date from 2023-01-01 to 2026-01-01. Assets: 3.85 at the start, 3.96 at the end, ranging 3.8 to 4.49. Loans: 3.74 at the start, 4.22 at the end, ranging 3.74 to 4.37. Deposits: 3.76 at the start, 3.73 at the end, ranging 3.49 to 3.88. The full data follows as a table.
| Date | Assets | Loans | Deposits |
|---|---|---|---|
| 2023-01-01 | 3.846500378316481 | 3.742055802653235 | 3.7636170804714495 |
| 2023-04-01 | 4.001400244622685 | 3.8583200020612702 | 3.719815278296924 |
| 2023-07-01 | 4.140220658544176 | 3.8767187042694613 | 3.7415261336185104 |
| 2023-10-01 | 4.379205450760745 | 4.095244810557089 | 3.84158410770881 |
| 2024-01-01 | 4.402853676793835 | 4.185199331218312 | 3.7928316408971834 |
| 2024-04-01 | 4.488723773181757 | 4.32600506353634 | 3.8843406800957303 |
| 2024-07-01 | 4.459060151382714 | 4.365101060019854 | 3.8584541307776625 |
| 2024-10-01 | 4.298847256884041 | 4.340488444100298 | 3.8080488475628194 |
| 2025-01-01 | 4.181129719002449 | 4.30178865674828 | 3.646710679048791 |
| 2025-04-01 | 4.175470757053999 | 4.234538393065829 | 3.7450867929894653 |
| 2025-07-01 | 3.9991635286845524 | 4.178066659765115 | 3.7459417736141707 |
| 2025-10-01 | 3.8004501108983852 | 4.115876309820487 | 3.4933163860983925 |
| 2026-01-01 | 3.9563335517304075 | 4.215023059995914 | 3.733182485765269 |