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BGC Partners: TURKISH BANKS: BRSA announced the banking sector’s aggregate net income for 3M19 as TL12.4bn, down 12% y/y, neutral…
BRSA announced the banking sector’s aggregate net income for 3M19 as TL12.4bn, down 12% y/y. This indicates a 79% m/m surge for March earnings which is also up 4% y/y. As a result, earnings of the Turkish banking system dropped by 1% q/q in 1Q19. The sector aggregates, which tend to get revised later, currently suggest that the state bank earnings should be broadly in line with expectations, while there seems to be some upside risk for the remaining private banks, i.e. YKB and Isbank.
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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
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