Operator

Ladies and gentlemen, welcome to the VakifBank Audio Webcast First Quarter 2026 Bank-only Earnings Results. Now we will have a question and answer session following the presentation. [Operator Instructions] Our speakers for today are Mr. Ali Tahan. He's the Head of International Banking and Investor Relations; and Ms. Ece Seda Yasan Yilmaz, the Head of Investor Relations. I will now leave the floor to our host, Mr. Ali Tahan. Over to you, sir.

Ali Tahan
Senior VP and Head of International Banking & Investor Relations

Thank you, Rob. Good afternoon, everybody, and welcome to the VakifBank's First Quarter 2026 Earnings Presentation Conference Call. As usual, together with myself, we have [ Ece ], Head of IR and all the IR colleagues with me. And as usual, after the call, in case you have any follow-up questions, we will be more than happy to answer your questions. Without losing further time, let me jump to the presentation. Starting with the first page. In this quarter, we are announcing TRY 15 billion, first quarter net income, which is slightly higher than the market consensus of TRY 14.3 billion and this is bank-only numbers.

Today, we are also announcing the first quarter consolidated financials and consolidated numbers are even stronger at TRY 17 billion net income for the same period. Compared to a year ago, reported twice last year in the first quarter, we delivered TRY 20 billion net income.

Just to remind you, during this quarter of the last years, we were [ enjoying ] around TRY 11 billion preprovisioning reversal. So therefore, like-on-like wises, TRY 9 billion a year ago versus TRY 15 billion in