Categories Business Company & Industry HIGHLIGHTS Garanti Bank shareholder rejects share price offer Cem CetingucPosted on25 March, 2022 Spanish banking group BBVA’s share price offer to achieve full control of Turkish lender Garanti BBVA, … Continue ReadingGaranti Bank shareholder rejects share price offer
Categories Business Company & Industry Finance HIGHLIGHTS Turkish Banks: Q4 21 results – What to expect? Cem CetingucPosted on1 February, 2022 Q4 2021 earnings season will start next week. We expect 39% earnings growth qoq and … Continue ReadingTurkish Banks: Q4 21 results – What to expect?
Categories Business Company & Industry Finance HIGHLIGHTS Turkish Banks: Sector Monthly Data Cem CetingucPosted on1 February, 2022 29% monthly ROE on lower provision expenses Turkish banking sector’s December net income is up … Continue ReadingTurkish Banks: Sector Monthly Data
Categories Economy General HIGHLIGHTS Politics Turkish Banks: Amendments to the reserve requirement regulation to encourage the new deposit scheme Cem CetingucPosted on5 January, 2022 The Central Bank of Turkey (CBT) announced amendments to the reserve requirement regulation last week … Continue ReadingTurkish Banks: Amendments to the reserve requirement regulation to encourage the new deposit scheme
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 Company & Industry General HIGHLIGHTS JP Morgan: Turkish Banks Cem CetingucPosted on30 November, 2021 We upgrade select subs of Turkish large banks from N to OW. For this upgrade … Continue ReadingJP Morgan: Turkish Banks
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 Business HYPED Markets FDD: Landmark Iran Sanctions Ruling Against Turkish Public Lender Builds U.S. Deterrence Atilla YeşiladaPosted on27 October, 2021 A U.S. appeals court ruled on October 22 that Halkbank, a public lender majority-owned by … Continue ReadingFDD: Landmark Iran Sanctions Ruling Against Turkish Public Lender Builds U.S. Deterrence
Categories Business Company & Industry Turkish Banks: Still cheap but less cheerful Cem CetingucPosted on21 October, 2021 Going through an easing cycle but concerns on inflation still lingering Following the CBRT’s 100 … Continue ReadingTurkish Banks: Still cheap but less cheerful
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 Company & Industry Economy Turkish Banks: Sector Monthly Data Cem CetingucPosted on7 September, 2021 Lower monthly ROE of 12% due to higher trading loss Turkish banking sector’s July net … Continue ReadingTurkish Banks: Sector Monthly Data
Categories Business Company & Industry Turkish Banks: Sector Monthly Data Cem CetingucPosted on6 August, 2021 Strong monthly ROE of 17% on higher other income Turkish banking sector’s June net income … Continue ReadingTurkish Banks: Sector Monthly Data
Categories Business Company & Industry HALKB: 2Q Preview, Target Price & Rating Revision – Uphill Battle Cem CetingucPosted on26 July, 2021 Higher funding and credit risk costs remain as risk factors Following the strong loan growth … Continue ReadingHALKB: 2Q Preview, Target Price & Rating Revision – Uphill Battle
Categories Company & Industry GARAN: 2Q Preview & Target Price Revision – Mind the ROE Progress Cem CetingucPosted on12 July, 2021 Earnings recovery and attractive valuation support share performance Garanti share price is up 15% since … Continue ReadingGARAN: 2Q Preview & Target Price Revision – Mind the ROE Progress
Categories General Reuters: Turkey’s banks shy away from Erdogan’s ‘crazy’ canal – sources Atilla YeşiladaPosted on6 June, 20216 June, 2021 The craziest of President Erdogan’s “crazy projects”, Canal Istanbul ought to take start at the … Continue ReadingReuters: Turkey’s banks shy away from Erdogan’s ‘crazy’ canal – sources
Categories Business Company & Industry Top Banking Pick of 2021: Garanti Bank Cem CetingucPosted on10 May, 2021 Short-term recovery from recent lows likely Garanti share price is down 30% since our downgrade … Continue ReadingTop Banking Pick of 2021: Garanti Bank
Categories Company & Industry Economy Banking Sector: 1Q21 Earnings Preview Cem CetingucPosted on23 April, 2021 Macro volatility to take a toll on earnings We expect ROE’s to range between 0-12% … Continue ReadingBanking Sector: 1Q21 Earnings Preview
Categories Business Turkey rate hikes slow loan growth, to compress banks’ margins – Fitch Atilla YeşiladaPosted on16 March, 2021 Turkish banks saw slower loan growth in the fourth quarter of 2020 and their margins … Continue ReadingTurkey rate hikes slow loan growth, to compress banks’ margins – Fitch
Categories Business A frightening predicament for banks from S&P Atilla YeşiladaPosted on24 June, 202026 June, 2020 Turkey is in the midst of a mind-blowing credit boom, with loan growth having reached … Continue ReadingA frightening predicament for banks from S&P
