Yapi Kredi (YKBNK.IS): Monetizes asset management franchise through strategic partnership with Azimut

Research evidence excerpt

Yapi Kredi (YKBNK.IS): Monetizes asset management franchise through strategic partnership with Azimut

Goldman Sachs Yapi Kredi (YKBNK.IS)

the future growth and scale-up of the combined platform under the long-term alliance.

Yapi expects the transaction to strengthen its capital position, with a projected positive

impact of roughly 70bps on its CET1 ratio based on March 2026 financials. The

transaction remains subject to regulatory approvals and customary closing conditions.

Partnership expands product offering and creates international gateway

The strategic partnership is expected to combine Yapı Kredi’s extensive domestic

distribution franchise—including more than 730 branches, over 5,000 relationship

managers and a strong digital platform—with Azimut’s international investment

expertise. Under the contemplated distribution agreement, Yapı Kredi will distribute the

relevant asset management products as its primary and preferred offering, enabling

customers to access a broader range of investment solutions while maintaining

continuity in existing products.

Management has also emphasized the potential for the partnership to strengthen links

between Turkish and international capital markets. By leveraging Azimut’s global

network, Turkish investment products could gain access to foreign investors, while Yapı

Kredi customers benefit from a wider suite of global investment opportunities. The

transaction therefore represents not only a capital-accretive asset monetization but

also a strategic step toward enhancing Yapı Kredi’s long-term wealth management and

asset management proposition in Türkiye.

Valuation and risks

Yapi Kredi is one of the largest private sector banks in Turkiye with a nationwide

presence.