Categories Company & Industry HIGHLIGHTS Akbank: Upgrade to Buy: Margins turning the corner Cem CetingucPosted on19 August, 2024 Recent pullback provides an attractive entry point: We expect Akbank’s NIM to enter an upcycle … Continue ReadingAkbank: Upgrade to Buy: Margins turning the corner
Categories Business Company & Industry HYPED New recommendation for Turkey’s private lenders Atilla YeşiladaPosted on2 June, 2024 This is an excerpt from HSBC Research Note! PA Turkey does not do equity research, … Continue ReadingNew recommendation for Turkey’s private lenders
Categories Business Company & Industry Finance Markets BofA on Turkish bank stocks: Why domestic-retail investors shouldn’t be a worry Atilla YeşiladaPosted on17 December, 2023 Fears of possible overhang as retail clients feel squeeze One issue that frequently comes up … Continue ReadingBofA on Turkish bank stocks: Why domestic-retail investors shouldn’t be a worry
Categories Company & Industry Finance HIGHLIGHTS Turkish Equities: Potential winners post election Cem CetingucPosted on8 May, 2023 Identifying winners: As Turkish elections approach, we try to answer the question we are most … Continue ReadingTurkish Equities: Potential winners post election
Categories Company & Industry Finance General HIGHLIGHTS Turkish banks heavily concerned about new monetary rules Cem CetingucPosted on27 October, 202227 October, 2022 Turkish bank executives raised concerns with authorities this week that a year of new rules … Continue ReadingTurkish banks heavily concerned about new monetary rules
Categories Business Company & Industry Finance HIGHLIGHTS Y.F. Top Picks: Adding AKBN & VAKBN, Removing GARAN Cem CetingucPosted on25 August, 2022 AKBNK/VAKBN in, GARAN out We add AKBNK and VAKBN to our model portfolio, while removing … Continue ReadingY.F. Top Picks: Adding AKBN & VAKBN, Removing GARAN
Categories Business HYPED Markets Goldman Sachs: Turkey Banks- Taking stock of the latest sector trends Atilla YeşiladaPosted on30 January, 2022 What is new? As of January 19, the aggregate banking sector balance sheet showed a … Continue ReadingGoldman Sachs: Turkey Banks- Taking stock of the latest sector trends
Categories Business HYPED Markets Garanti BBVA: 4Q21E Earnings Estimates Atilla YeşiladaPosted on24 January, 2022 The earnings season will begin on January 26 with the announcement of Arcelik’s financials. Among … Continue ReadingGaranti BBVA: 4Q21E Earnings Estimates
Categories Business HIGHLIGHTS Markets 2022 Strategy Report: Policy Normalization in the Global Economy, Heterodox Policies in the Turkish Economy Atilla YeşiladaPosted on24 January, 2022 The World economy is shifting to policy normalization after the ultra-loose policy setting of the … Continue Reading2022 Strategy Report: Policy Normalization in the Global Economy, Heterodox Policies in the Turkish Economy
Categories Business Company & Industry Finance HIGHLIGHTS Downgrading Turkish banks; spotlight on capital Cem CetingucPosted on1 December, 2021 Until now, resilient financial performance of Turkish banks led to us to maintain Buy/High Risk … Continue ReadingDowngrading Turkish banks; spotlight on capital
Categories Business Finance HIGHLIGHTS Turkish Banks: Sensitivity of capital ratios to currency and asset quality Cem CetingucPosted on25 November, 202125 November, 2021 We update our interactive spreadsheet to stress capital positions with Q3 results: The unfavourable outlook … Continue ReadingTurkish Banks: Sensitivity of capital ratios to currency and asset quality
Categories Company & Industry Finance Fitch Ratings: Turkish banks have enough FC liquidity Cem CetingucPosted on27 September, 2021 Turkey’s seven largest banks have sufficient short-term foreign currency (FC) liquidity to service FC debt during the … Continue ReadingFitch Ratings: Turkish banks have enough FC liquidity
Categories Company & Industry Finance HSBC: Turkish Banks Cem CetingucPosted on22 September, 2021 Improving margins to boost core PPI in 2H21e and … We reiterate our view that … Continue ReadingHSBC: Turkish Banks
Categories Business Company & Industry Markets Turkish Private Banks: Margin recovery delayed by yet another quarter, but… Cem CetingucPosted on5 July, 2021 The market’s muted reaction to the banks’ strong Q1 profits implies a re-rating requires earnings … Continue ReadingTurkish Private Banks: Margin recovery delayed by yet another quarter, but…
