BGC Partners: HALKB 4Q18 IN LINE
TL317m NI is exactly in-line w/mkt cons. Profitability remained weak as the ROE repeated at 4% in 4Q18, primarily driven by another 20bps q/q drop in NIM to 2.4%, despite massive support from CPI-linkers. Otherwise, slightly higher fees and operating expenses seem to offset each other while there also appears to be a shift between general and other provisions.Turkiye Halk Bankasi (Halkbank) is a banking and financial services company based in Turkey. Co. offers corporate and commercial banking products and services to a range of customers, from individuals to large corporations. Co.'s operations include: consumer and retail banking, consumer loans, credit and debit cards, deposit and overdraft accounts, payroll services, corporate and commercial banking, budget loans, credit line facilities, cash management, investment banking, brokerage, factoring, leasing and insurance services, and tradesmen/SME banking. As of Dec 31 2011, Co. operates 771 branches and had total assets of TL92,160,657,000.
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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