DOCSLIB.ORG

US$ 22.4 Billion US$ 11.2 Billion US

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
US$ 22.4 Billion US$ 11.2 Billion US ABOUT GARANTI STOCK ‘GARAN’ With an actual free float ratio of ~50%, Garanti shares constituted 16% of the foreign transactions in the BIST and represented 31% of the foreign transactions among all listed banks. US$ 22.4 Billion Market Capitalization constitutes 8% of the BIST-100* US$ 11.2 Billion Highest floating market capitalization in the BIST* US$ 207 Million Average daily turnover in 1Q 2013, representing 13% of the BIST-100 US$ 7 Billion Total 1Q 2013 foreign transactions in GARAN The most traded stock by foreigners ~12% Biggest weight of shares on the BIST-100 Note: Currency conversion is based on US$/TL CBRT ask rate * As of March 29, 2013. DID YOU KNOW? Among the financial institutions in Europe, Garanti Garanti Mobile Banking logins increased by 22% to the related service point. In addition, Garanti Call ranks first on Facebook with its more than 1.3 million in 1Q13 through the technology-oriented campaigns. Center “Full Support” team added customer retention followers. Garanti uses Facebook for product offerings Garanti Mobile Banking has a leading market share of increasing activities to their sales efforts in the area of besides providing high convenience. Most recently, 44% in mobile financial transactions and serves 500,000 GPLs. Garanti became the first in the World to accept General customers. Purpose Loan applications via secure form on Garanti Securities successfully completed 14 debt Facebook. Consequently Garanti’s “Facebook Offers” Garanti became the first bank in Turkey to apply Call offerings with a total size of TL 3.1 billion as of 1Q13. became a global case study. Steering at its Call Center, in directing the customers GARANTI AND THE COMMUNITY Garanti celebrated the 10th anniversary of the Garanti Garanti’s educational project “Women Entrepreneur women over the last five years. Through these Anatolian Meetings, which brings together SMEs Executive Training” with cooperation of Boğaziçi gatherings, Garanti aims to strengthen the economic and the representatives of local administrations from University Lifelong Learning Center reached a total of and social standing of women and promote women different provinces in Turkey. Through discussing the 400 women entrepreneurs in Ankara, Istanbul and Izmir. entrepreneurship. changes in the economy and market conditions with Trainings, aiming to enhance the knowledge of women professionals who are experts in their field, Garanti entrepreneurs and broaden their vision, continue in With its continuous support to WWF Turkey for 21 enables SMEs and local administrators to evaluate Antalya. years, Garanti participated in the annual “Earth Hour” regional and international opportunities, discover as the main sponsor this year to take a stand against potential business areas and create solutions together “Women Entrepreneurs Gatherings” organized climate change. Garanti Bank turned off its lights at for their local problems. by Garanti in collaboration with KAGIDER (Women the Headquarters in Istanbul on March 23rd for the fifth Entrepreneurs Association of Turkey) reached 4,500 consecutive year. AWARDS & RECOGNITIONS Garanti became the first bank in Turkey to have an women entrepreneurship in Turkey by the New Economy award in the “Not-for-profit / Public Services” category “A” rated Sustainability Report upon the approval of magazine. at Mixx Awards 2012 Turkey. Global Reporting Initiative (“GRI”), the internationally recognized reporting standards institution. In Webrazzi Awards 2012, Garanti ranked 1st in the In Mercury Awards, Garanti was recognized among “Bank that Utilizes Technology the Best” category “Best of Category” winners in three categories. Garanti is recognized as the “Best Project Finance and 2nd in the “Best Domestic Mobile Application” Garanti’s 2011 Interactive Annual Report received House in Central and Eastern Europe” by a credible category. “Gold” award in “Websites/Emerging Media”; Annual finance magazine, EMEA Finance. Report 2011 received “Silver” award in “Annual Reports Garanti Link application, a first in Europe, was granted - Overall Presentation: Banks” and quarterly bulletin Garanti Masters Private Banking received “Turkey’s with “Silver Award” in the “Product Launch” category StockWatch won “Bronze” award in “Newsletters: Best Relationship Management” award in the Private in the interactive advertising contest, Mixx Awards 2012 Financial/Investor Relations” categories. Banking Poll 2013 conducted by Euromoney. Turkey. Garanti Factoring was recognized as the “Most Garanti was honored with “Women’s Empowerment The promotional film We Can Do It shot for the Admired Factoring Company” for the fourth Corporate Leadership Award” for its efforts to support Teachers Academy Foundation received “Gold” consecutive year by Capital Magazine. WHAT ANALYSTS SAY ABOUT GARANTI? Ata Invest: …the best bank in terms of cost control… BGC Partners: ...best-in-class management, which increases its cross-sell ratios in the long term, We expect the bank to maintain its expense ratios well advanced technology infrastructure, strong sales especially in consumer loans. under control, while further strengthening the retail culture, and good customer penetration... franchise. Morgan Stanley: Garanti presents an attractive capital Finans Invest: ...above sector fee generation position versus peers. Barclays: We like Garanti as a fundamental story on capability and better credit risk assessment in addition quality management, value generating franchise with to high NIM. Garanti is one of the best positioned Societe Generale: We focus on Garanti for its resilient proven track record on execution. banks to sustain its high RoAA level in the long margins and capital strength. term thanks to its strong presence in credit cards, DEVELOPMENTS AT GARANTI Garanti successfully completed its first TL Garanti Bank once again became the only Turkish Garanti Securities acted as the sell-side advisor to denominated international offering amounting to TL bank in the list of the World’s Top 100 Banks in S&P’s the Prime Ministry Privatization Administration at the 750 million with a 5 year maturity at a coupon rate of report comparing the capital adequacies of banks. privatization of Başkent Doğalgaz Dağıtım A.Ş. (Natural 7.375% on February 28, 2013. Garanti climbed from its rank of 41st in 2011 to 13th in Gas Distribution Corporation) 2012 based on its capital adequacy ratio calculated The amount of bank bonds issued by Garanti in 1Q with the risk-adjusted capital (RAC) methodology. Garanti Technology upgraded the mainframe system reached TL 2.4 billion. to provide more computing power, better response Garanti rolled out a new small ticket loan product, time performance and less software cost. The Garanti signed US$ 500 million loan agreement with “Quick Cash”, designed for customers who are in mainframe database system was also upgraded to JBIC for long term financing of renewable energy need of immediate cash. Offered through instant improve performance, scalability, availability, security, projects and a cooperation agreement with Sumitomo credit evaluation, Quick Cash, is a transparent and and application integration. Mitsui Banking Corporation to finance Japanese uncomplicated product with formerly announced net companies operating in Turkey. payment amount payable within 3 months. Garanti signed the “Manifesto for Energy Efficiency in Buildings” published by the Turkish Business Garanti continues to be a lead arranger in the financing Garanti offered “Gram Gold Payment” and enabled Council for Sustainable Development, with commitment of infrastructure, energy and privatization projects: customers to access their gold savings and withdraw to take measures to ensure energy efficiency in its • Participated with US$ 75 million in US$ 960 in 1 and 5 grams of 24 carat gold from designated office buildings, setting targets to reduce greenhouse million financing of Eurasia Tunnel Project branches in Istanbul. gas emissions and reporting. and awarded with “Best PPP Deal” by EMEA Finance. Through collaboration with Turkcell, Garanti offers Garanti sponsored “UNEP FI Introductory Training • Provided US$ 312 million project financing to its SME customers advantages in many products in Workshop on Environmental and Social Risk Eren Holding’s cement factory & port investment the areas of secure data storing, digital marketing, Analysis” at SALT and participated along with more in Mersin and US$ 34.8 million financing to Bilgin corporate identity and operational efficiency. than 15 banks sharing experience. Enerji for Bucakkışla HEPP project with an installed capacity of 34 MW. Garanti Pension moved up to #1 ranking in terms Garanti developed a set of new environmental • Participated in the US$ 1.4 billion financing of of total participants with a quarterly growth of 78,805 criteria to be integrated into supply chain agreements. Gebze-İzmir Motorway Phase-I Project; provided participants, reaching 688 thousand pension holders The criteria ensures mitigation measures including US$ 84 million to Global Yatırım Holding for the and a 20% market share. waste management, eco-friendly chemical usage and acquisition of 22% of Global Liman shares, and reporting these activities which also enables tracking EUR 50 million to per each of Rönesans’ İzmir suppliers’ environmental impact. Optimum Shopping Mall and Küçükyalı Office & School Projects. SELECTED CREDIT CARD FIGURES IN TURKEY 1.89 up from 1.82 in 2012 YE 1.3% vs. Garanti’s 1.6% 21% Credit cards’ share in retail loans # of plastic cards
Load more

Recommended publications
  • Financial Health
    About Our Value Our 2020 Material Financial Reaching Operational Data and The Best and Most Corporate Financial Reports Introduction Sustainability 100 Garanti BBVA Creation Issue: COVID-19 Health More Customers Excellence Technology Engaged Team Governance and Appendix 101 2020 PERFORMANCE IN STRATEGIC PRIORITIES AND OUTLOOK BURAK ALİ GÖÇER CEO - Garanti BBVA Pension FINANCIAL ELİF GÜVENEN Director - Corporate Brand Management HEALTH and Marketing Communication HÜLYA TÜRKMEN Director - Customer Experience and Satisfaction ZEYNEP ÖZER YILDIRIM Istanbul, Kozyatağı Commercial Branch Manager MAHMUT KAYA CEO - Garanti BBVA Asset Management Scan the QR code to watch the video. TRUST PIONEER SUSTAINABILITY RESPONSIBILTY EXPERIENCE TRANSPARENCY SUCCESS AGILITY EMPATHY DIGITALIZATION Garanti BBVA | Integrated Annual Report 2020 Garanti BBVA | Integrated Annual Report 2020 About Our Value Our 2020 Material Financial Introduction Sustainability 102 Garanti BBVA Creation Issue: COVID-19 Health Financial 7,307 37 min 12 customer Health Related Material Value Drivers Indicators 2019 2020 Topics OFFER OUR CUSTOMERS New and updated products, services and channels SOLUTIONS AND SUGGESTIONS that aim to support the customers in terms of 5 5 THAT CATER TO THEIR NEEDS SO managing their financials AS TO HELP THEM ATTAIN THEIR Customers informed about their financial positions 85% 92% GOALS Disabled-friendly Garanti BBVA ATMs 5,214 5,276 FINANCIAL ADVISORY TO OUR Customers that started using saving products 943,541 898,212 #3 BUSINESS CUSTOMERS TO HELP THEM
    [Show full text]
  • The Cause of Misfire in Counter-Terrorist Financing Regulation
    UNIVERSITY OF CALIFORNIA RIVERSIDE Making a Killing: The Cause of Misfire in Counter-Terrorist Financing Regulation A Dissertation submitted in partial satisfaction of the requirements for the degree of Doctor of Philosophy in Political Science by Ian Oxnevad June 2019 Dissertation Committee: Dr. John Cioffi, Chairperson Dr. Marissa Brookes Dr. Fariba Zarinebaf Copyright by Ian Oxnevad 2019 The Dissertation of Ian Oxnevad is approved: ________________________________________________ ________________________________________________ ________________________________________________ Committee Chairperson University of California, Riverside ABSTRACT OF THE DISSERTATION Making a Killing: The Cause of Misfire in Counter-Terrorist Financing Regulation by Ian Oxnevad Doctor of Philosophy, Graduate Program in Political Science University of California, Riverside, June 2019 Dr. John Cioffi, Chairperson Financial regulations designed to counter the financing of terrorism have spread internationally over past several decades, but little is known about their effectiveness or why certain banks get penalized for financing terrorism while others do not. This research addresses this question and tests for the effects of institutional linkages between banks and states on the enforcement of these regulations. It is hypothesized here that a bank’s institutional link to its home state is necessary to block attempted enforcement. This research utilizes comparative studies of cases in which enforcement and penalization were attempted, and examines the role of institutional links between the bank and state in these outcomes. The case comparisons include five cases in all, with three comprising positive cases in which enforcement was blocked, and two in which penalty occurred. Combined, these cases control for rival variables such as rule of law, state capacity, iv authoritarianism, and membership of a country in a regulatory body while also testing for the impact of institutional linkage between a bank and its state in the country’s national political economy.
    [Show full text]
  • Yös -2020 Hatali Iban Bilgisi Olan Öğrenci Listesi
    YÖS -2020 HATALI IBAN BİLGİSİ OLAN ÖĞRENCİ LİSTESİ Öğrencinin Dikkatine:İade işlemleri yapılmış ancak IBAN numarası ile iade edilecek kişi adı/soyadı uyuşmazlığı veya ıban numarasının hatalı girilmesi nedeniyle iadeler ödeme biriminden geri gelmiştir. Dikkat edilmesi gereken hususlar: • İadelerin yapılabilmesi için mutlaka IBAN numarası verilmelidir. • İade edilecek kişinin ad/soyad bilgileri ve bu kişiye ait IBAN numarasının uyuşması gerekmektedir. • Yapılacak iade Türk Lirası ise verilen IBAN numarasının TR dahil 26 hane olması gerekmektedir. • Yapılacak iade tutarının para cinsine göre (Örnek:TL.-USD-AVRO) banka IBAN numarası verilmesi gerekmektedir. YÖS-2020 HATALI IBAN BİLGİSİ OLAN ÖĞRENCİ LİSTESİ ADAY KREDİ KARTI S.N. NO NO ÖĞRENCİ ADI/SOYADI HESAP SAHİBİ ADI/SOYADI İBAN NO BANKA ADI BIC/SWIFT NO 1 758874 387204 Sarkhan Mammadzada ELVIRA MAMMADOVA AZ03AIIB45810019442100005121 KAPİTAL BANK AIIBAZ2X 2 761418 389292 DAIANA HAMMADI MUHAMMED YUSUF TR6600015001580073083707310 VAKIF BANKASI 3 758245 386790 Karina Panayeva KARİNA PANAYEVA KZ76722C000033463013 KASPİ.KZ 273 4 757255 386232 meryem bircan MERYEM BİRCAN TR730001000749836073465001 ZİRAAT BANKASI SPARKASSE HAMELN- 5 757807 386579 DAMLA CAKA DAMLA CAKA DE86 2545 0110 0160 1387 15 WESERBERGLAND NOLADE21SWB 6 758957 387265 AYSAN FAHIMI AYSAN FAHİMİ IR6037701491151079 KESHAVARZİ 7 750454 391789 GÜNAY SÜRMELİOĞLU GÜNAY SÜRMELİOĞLU TR410001001690867468685004 ZİRAAT BANKASI 8 758411 387868 ALMINA CHAISMAILOVA AYŞE ALİSOY TR10006701000000073994618 YAPIKREDİ GHAZALEH 9 757560 386421 ILIA
    [Show full text]
  • Premailer Middle East 2021
    Bonds, Loans Shangri-La Bosphorus, Istanbul & Sukuk Turkey 2021 Turkey’s largest capital markets event www.bondsloansturkey.com 93% 50+ 20% 250+ DIRECTOR LEVEL OR ABOVE REGIONAL & INTERNATIONAL SOVEREIGN, CORPORATE & INDUSTRY EXPERT SPEAKERS BANKS ATTENDED FI BORROWERS Bonds, Loans & Sukuk Turkey has become the meeting point of all important players in finance through the correct mix of its participants, and its reliability with continuity of successful organisations in the last consecutive years Selahattin BİLGEN, IGA Airport PLATINUM SPONSOR GOLD SPONSOR BRONZE SPONSORS WELCOME TO THE ANNUAL MEETING PLACE FOR TURKEY’S FINANCE PROFESSIONALS Bonds, Loans & Sukuk Turkey is the country’s largest capital markets event. It is the only event to combine discussions across the Bond, Loans and Sukuk markets, making it a “must attend” event for the country’s leading CEOs, CFOs and Treasurers. With over 65% of the audience representing issuers and borrowers and over 93% being director level or above, it is the place where live deals are discussed and mandates are won each year. As a speaker, I had a dynamic discussion which was a great experience. Overall, the organisation was great and attracted an invaluable list of attendees. Orhan Kaya, ICBC Turkey SAVE YOURSELF SHOWCASE YOUR INCREASE TIME AND MONEY EXPERTISE IN THE REGION AWARENESS get the attendee list 2 weeks by presenting a case study by taking an exhibition space before the event so you can to a room full of potential and demonstrating your pre-arrange meetings. clients. products and services. WIN MORE INCREASE YOUR BUSINESS BRANDS PRESENCE packages include a number through the numerous of staff passes so you can branding opportunities cover more clients.
    [Show full text]
  • Turkey RISK & COMPLIANCE REPORT DATE: March 2018
    Turkey RISK & COMPLIANCE REPORT DATE: March 2018 KNOWYOURCOUNTRY Executive Summary - Turkey Sanctions: None FAFT list of AML No Deficient Countries US Dept of State Money Laundering assessment Higher Risk Areas: Not on EU White list equivalent jurisdictions Failed States Index (Political)(Average score) Weakness in Government Legislation to combat Money Laundering Medium Risk Areas: Corruption Index (Transparency International & W.G.I.)) World Governance Indicators (Average score) Compliance of OECD Global Forum’s information exchange standard Major Investment Areas: Agriculture - products: tobacco, cotton, grain, olives, sugar beets, hazelnuts, pulses, citrus; livestock Industries: textiles, food processing, autos, electronics, mining (coal, chromate, copper, boron), steel, petroleum, construction, lumber, paper Exports - commodities: apparel, foodstuffs, textiles, metal manufactures, transport equipment Exports - partners: Germany 10.3%, Iraq 6.2%, UK 6%, Italy 5.8%, France 5%, Russia 4.4% (2011) Imports - commodities: machinery, chemicals, semi-finished goods, fuels, transport equipment Imports - partners: Russia 9.9%, Germany 9.5%, China 9%, US 6.7%, Italy 5.6%, Iran 5.2% (2011) 2 Investment Restrictions: The Government of Turkey (GOT) has developed specific strategies for 24 industrial sectors, including eight priority sectors. It has also established specific plans for physical infrastructure upgrades, as well as a major expansion of Turkey’s health, information technology, and education sectors, all of which are geared to make the Turkish workforce and companies more competitive. GOT recognizes that the domestic economy alone will not be sufficient to reach these goals and that Turkey will need to attract significant new foreign direct investment (FDI). Foreign-owned interests in the petroleum, mining, broadcasting, maritime transportation, and aviation sectors are subject to special regulatory requirements.
    [Show full text]
  • 2019 Annual Report
    2019 ANNUAL REPORT “A VEHICLE SUITS EVERYONE IS AVAILABLE AT GARANTI BBVA FLEET.” ABOUT GARANTI BBVA FLEET CONTENTS 4 Independent Auditor Report on 48 RISKS AND ASSESSMENTS OF THE BOARD OF DIRECTORS Annual Activity Report by Board of Directors 50 Sectoral Risks 50 Risks from Products and Services 6 ABOUT GARANTI BBVA FLEET 51 Risks Related to the Determination of Used Car Price (RV) 8 Our Vision - Our Mission - Our Strategy 51 Risks Related to the Second Hand Vehicle Sales 9 Our Values 52 Risks Arising from External Factors 10 Corporate Profile 52 Financial Risks 11 Accounting Period 54 Committees 11 Approval of Annual Report 56 Meetings of the Board of Directors 11 Statement of Responsibility 56 Administrative Sanctions and Penalties 11 Shareholder Structure 56 Assessment of Financial Situation, Profitability and Solvency of Indemnity 12 Organizational Structure 56 Grants and Donations 14 Board of Directors 56 The Suits Filed Against the Company and Their Possible Results 18 Senior Management 56 Remarks on the Private Auditing and Public Auditing 20 Message from the Chairman 57 Amendments on Articles of Association 22 Message from the General Manager 57 Significant Events Occurring Up to the Date of the General Assembly Meeting, in which the Relevant Financial Statements Shall Be Discussed, from the Closure of the 24 HUMAN RESOURCES AND TRAINING Accounting Period 26 Human Resources 57 General Assemblies held yearly 3 27 Training Types Training Made During the Year 57 Significant Purchase/Sales of Assets 27 Training Made During the Year
    [Show full text]
  • Vulnerability Analysis of Turkish Banks Using Stress Testing and Internal Credit Rating Approach
    Journal of Economics, Finance and Accounting – JEFA (2020), Vol.7(2),p.103-119 Ghazavi, Bayraktar Tur VULNERABILITY ANALYSIS OF TURKISH BANKS USING STRESS TESTING AND INTERNAL CREDIT RATING APPROACH DOI: 10.17261/Pressacademia.2020.1207 JEFA- V.7-ISS.2-2020(4)-p.103-119 Masoud Ghazavi1, Sema Bayraktar Tur2 1Financial Specialist, Bank Mellat Headquarters, Tehran, Iran. [email protected] , ORCID: 0000-0002-3973-1076 2Istanbul Bilgi University, Department of Banking and Finance Istanbul, Turkey. [email protected], ORCID: 0000-0002-7564-4148 Date Received: April 2, 2020 Date Accepted: June 15, 2020 To cite this document Ghazavi, M., Tur, S.B,, (2020). Vulnerability analysis of Turkish banks using stress testing and internal credit rating approach. Journal of Economics, Finance and Accounting (JEFA), V.7(2), p.103-119. Permanent link to this document: http://doi.org/10.17261/Pressacademia.2020.1207 Copyright: Published by PressAcademia and limited licensed re-use rights only. ABSTRACT Purpose- This study examines the performance and financial vulnerability of twelve Turkish banks for 2019. Methodology - Stress testing identifies the impact of extreme expected and unexpected shocks to a bank’s capital, provides an assessment of its financial strength to withstand shocks and helps to spot emerging risk(s) and uncover weak spots in the financial institution. It enables banks in identifying their vulnerabilities at an early stage. In addition to stress testing, as for Internal Credit Rating (ICR), some financial ratios have been selected to assess the performance of each bank within banking industry. Findings- All banks in 2019 are within the standard classification of ICR rating except for Şekerbank.
    [Show full text]
  • Monthly Equity Strategy
    Equity Strategy June 05, 2012 Monthly Equity Strategy Selling pressure rose in May… Research Team HOLD +90 (212) 334 33 33 [email protected] Following the strong first quarter fuelled by increased risk appetite in developed markets, sentiment has Facts & Figures Close MoM again turned negative over the past two months. The ISE - 100, TRY 55,099 -8.18 mood in the market went south in April on news from ISE - 100, USD 29,939 -12.75 the U.S., while sales accelerated in May on increased Total Volume, TRY mn 43,471 -69.14 uncertainty following the elections in France and Greece. In addition to this, the inability to establish a MSCI EM Turkey 413,199 -13.0% government in Athens, and the emergent likelihood of MSCI EM 906 -11.7% its exit from the euro increased selling pressure in the Benchmark Bond 9.45% -13 bps stock market in May. The ISE-100 index, remaining relatively strong compared to international peers in USD/TL 1.8404 5.23% April, was also buffeted by international sell-off winds EUR/TL 2.2840 -1.26% in the last month. The ISE-100 index, which started the P/E Current month of May at 60,000 levels, has, aside from negative developments in foreign markets, been affected by ISE - 100 10.2 S&P’s downgrading of the country outlook from positive Banking 7.9 to ‘stable’, and Fitch’s statement that the period Industrial 13.2 leading to Turkey’s uptick to investment grade would Steel 8.4 be longer than expected, and retreated to 54,000 levels.
    [Show full text]
  • Turkey's Largest Capital Markets Event
    Book your place before 5th September to SAVE £200 enter code DM1 at www.BondsLoansTurkey.com Turkey’s largest capital markets event Platinum Sponsors Gold Sponsors Lunch Sponsor Silver Sponsor Bronze Sponsors WELCOME TO Bonds, Loans & Sukuk Turkey 2018 REASONS TO ATTEND 1 Hear global investors’ analysis of the opportunities in the market from: BlueBay, Barings, Manulife 2 Gain an economist’s assessment of Turkey’s macroeconomic fundamentals: Find out which external factors are likely to impact Turkey over the next 2 years 520+ 3 Discover how issuers are hedging against FX volatility, attendees and what companies are doing with existing hard 95% currency debt Director level 4 Uncover which markets offer borrowers and issuers or above the best options, hear from: Medical Park, Vakıf Emeklilik, Bank ABC, HSBC and Emirates NBD 5 Network with 520+ senior stakeholders from the Turkish Capital Markets: 95% are Director level or above 63% Corporate & Bonds, Loans & Sukuk Turkey is a fantastic event where I can see many financial institutions and colleagues from all over the world. It also FI Issuers and provides a useful market update, covering the latest developments in the Borrowers, Turkish Capital Markets. 70+ Muzaffer Aksoy, Bank ABC Investors and speakers 2 Government Senior Level Speakers include Semih Ergür, Naz Masraff, Timothy Ash, Murat Ucer, Chief Executive Officer, Director of Europe, Senior EM Sovereign Strategist, Economist, IC Holding Eurasia Group BlueBay Asset Management GlobalSource Partners Burcu Ozturk, Burcu Geris Richard
    [Show full text]
  • 2Q19 Earnings Preview
    July 22, 2019 2Q19 Earnings Preview Flat spreads with no major asset quality problem TL mn 2Q19E 1Q19 2Q18 Chg. QoQ Chg. YoY Banks will begin announcing their 2Q19 earnings on July 25, spearheaded by Akbank. The deadline for the BRSA AKBNK 1,201 1413 1602 -15% -25% results is August 19. We estimate a total net profit of TL4.1bn for the banks HALKB 315 305 1113 3% -72% under our coverage in 2Q19, implying a 23% qoq and 39% yoy decline. ISCTR 934 1458 1528 -36% -39% The main highlights of 2Q19 are: i) flattish core lending spread qoq, ii) almost zero loan growth iii) drop in COR, despite a 30bps rise in NPL ratio VAKBN 400 651 1074 -39% -63% Akbank and Yapi Kredi have distinguished themselves YKBNK 1,020 1241 1227 -18% -17% from their peers on the back of relatively solid spreads supported by declining deposit costs. TSKB 191 185 166 3% 15% Main highlights of the quarter: FX-adjusted loan growth is almost zero in 2Q19, vs. 3.9% Total 4,060 5,254 6,710 -23% -39% in 1Q19, in which the decline in SME loans is partially compensated for by retail loan growth. Looking at the stock values, TL lending spreads are P/E (x) P/BV (x) ROE % almost stable, despite the rise in deposit rates. That said, the FX lending spread is also supportive due to the currency impact. 19-June- 2019E 2020E 2019E 2020E 2019E 2020E 19 The sector’s swap average volumes increased from USD37bn in 1Q19 to USD46bn in 2Q19, mainly due to the heavy swap usage of state banks.
    [Show full text]
  • Fitch Affirms 4 Large Privately-Owned Turkish Banks
    FITCH AFFIRMS 4 LARGE PRIVATELY-OWNED TURKISH BANKS Fitch Ratings-London-10 June 2016: Fitch Ratings has affirmed the IDRs, Viability Ratings (VRs) and Support Ratings of Turkiye Is Bankasi (Isbank), Akbank T.A.S. (Akbank), Yapi ve Kredi Bankasi (YKB) and Turkiye Garanti Bankasi (Garanti). The Outlook on YKB's Long-Term IDRs is Negative. The Outlooks on Akbank's, Isbank's and Garanti's Long-Term IDRs are Stable. A full list of rating actions is at the end of this rating action commentary. Isbank and Akbank's 'BBB-' Long-term IDRs are driven by their standalone creditworthiness, as reflected by their 'bbb-' VRs. Garanti's and YKB's 'BBB' Long-term IDRs are driven by potential support from their controlling shareholders, Banco Bilbao Vizcaya Argentaria (A-/Stable) and Unicredit (BBB+/Negative), respectively. YKB's ratings are sensitive not just to Unicredit's ratings, but also to any decision by Unicredit to reduce or sell its stake in the bank. The ratings of all four banks' subsidiaries are equalised with those of their parent institutions. Consequently, the Long-term IDRs of the subsidiaries of Isbank, Akbank and Garanti have been affirmed with Stable Outlooks, while the Outlooks on YKB's subsidiaries are Negative. KEY RATING DRIVERS: IDRS, NATIONAL RATINGS AND DEBT RATINGS OF ISBANK AND AKBANK; VRS OF ALL FOUR BANKS The 'bbb-' VRs of all four banks continue to reflect their still reasonable financial metrics in terms of performance and capitalisation, notwithstanding some weakening in 2015. They also consider the banks' strong franchises, which mean that any moderate deterioration in the operating environment should be manageable, in Fitch's view.
    [Show full text]
  • As Defined in Regulation S) Outside of the U.S
    IMPORTANT NOTICE OFFERINGS UNDER THE PROGRAMME ARE AVAILABLE ONLY TO INVESTORS WHO ARE PERSONS OTHER THAN U.S. PERSONS (AS DEFINED IN REGULATION S) OUTSIDE OF THE U.S. IMPORTANT: You must read the following before continuing. The following applies to the Base Prospectus following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the Base Prospectus. In accessing the Base Prospectus, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from the Bank as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. SECURITIES OFFERED UNDER THE PROGRAMME HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE U.S. OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE U.S. OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S (“REGULATION S”) UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. THE FOLLOWING BASE PROSPECTUS MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER AND IN PARTICULAR MAY NOT BE FORWARDED TO ANY U.S.
    [Show full text]