BGC Partners - AKBNK 2Q19 Update: Robust results in line with expectations
Akbank reported TL1,278mn unconsolidated net income in 2Q19, broadly in line with the TL1,186mn consensus and TL1,188mn BGC estimates. We observe that core operational metrics were all in line with expectations while a better-than-forecast subsidiary income and lower-than-estimated effective tax rate led to a slight beat at the bottom-lineAkbank is a commercial bank. Co. operates in five segments: Retail banking offers a range of retail services, such as deposit accounts, loans, credit cards, insurance products and asset management services; Corporate and Small and Medium Size Enterprises banking provides financial solutions and banking services; Treasury Activities conducts regional and foreign currency spot and forward transactions, bonds and other domestic securities; Private banking offers banking and investment transactions for upper-income groups and the International banking provides services for foreign trade financing and Turkish Lira clearances, and money transfers through agent financial institutions.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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