From the point of view of activity, performing loans are declining, due to the fall in wholesale customer portfolios in the region, while lending to the retail segment, specifically in Garanti, continues to grow steadily. The most notable aspect of customer funds is the outstanding performance of low-cost deposits, specifically current and savings accounts.
In earnings, gross income has been notably resilient thanks to the improved net interest income in Garanti and the NTI from the Global Markets unit, which have offset reduced income from fees and commissions and the lower contribution from CNCB compared with the same period last year. In the rest of the headings in the income statement, the reduction in operating expenses and higher impairment losses on financial assets should be noted.