BGC Partners - Akbank TAS (AKBNK) BGC Partners - AKBNK 3Q19 Update: Robust results with pro-active NPL recognitions

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BGC Partners

Cagdas Dogan

EUR 102.99 For Business Accounts Only

BGC Partners - AKBNK 3Q19 Update: Robust results with pro-active NPL recognitions

Akbank reported TL1,397mn unconsolidated net income in 3Q19, slightly above the TL1,284mn consensus and in line with the TL1,374mn BGC estimates. We observe that the slight beat was thanks to marginally better NIM and CoR, despite a more front-loaded NPL recognition policy than projected for 3Q19.

30/10/2019 6 EN

Underlying

Akbank TAS

Akbank 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.

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TRAAKBNK91N6 Istanbul Stock Exchange Turkey

Provider

BGC Partners

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

See profile

Analysts

Cagdas Dogan

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BGC Partners - AKBNK 3Q19 Update: Robust results with pro-active NPL recognitions

Turkish Banking Sector - Initial glance into 2026: Funding mix to drive outperformance

The Rear-View Mirror – EME markets: Hungarian BUX in the lead in October

WOOD Daily: PL Utilities; MIL PW; AKBNK TI; KTY PW; OPL PW; PKN PW; TL Macro; MTLN GA; EUROB GA; BRISA TI; ALE PW

BGC Partners: TURKEY - Central Government Budget continued to improve in February

BGC Partners: TURKEY - CBT Expectation Survey: No major change in inflation forecasts and a 50bps rate cut expectation from the CBT next week...

BGC Partners: TURKEY - Retail sales volume maintained a strong trend in January

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