BGC PARTNERS -HALKBANK 1Q18 - IN LINE
Halkbank reported TL790mn unconsolidated net income in 1Q18, which is in line with BGCe of TL788mn and consensus estimate of TL800mn, where there would have been a slight beat had the bank not set aside TL70mn free provisions. We should first of all note that this is the first IFRS-9 compliant result, which is not fully comparable to previous quarters, as NIM is slightly elevated due to accounting changes while CoR could go either way, depending on each bank’s assumptions.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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