BGC Partners - Turkiye Is Bankasi Anonim Sirketi Class C (ISCTR) BGC Partners - ISCTR 3Q19 Update: Downward guidance revision despite â€œbeatâ€

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BGC Partners

Cagdas Dogan

EUR 103.46 For Business Accounts Only

BGC Partners - ISCTR 3Q19 Update: Downward guidance revision despite â€œbeatâ€

Isbank reported TL1,348mn unconsolidated net income in 3Q19, well above the TL775mn consensus and TL830mn BGC estimates. We should note that expectations were once again significantly guided down as our original estimate stood at TL1.6bn. Indeed, Isbank has on average delivered 45% beat over the first three quarters of 2019; yet, the management has materially revised its 2019 guidance downward.

07/11/2019 6 EN

Underlying

Turkiye Is Bankasi Anonim Sirketi Class C

Turkiye Is Bankasi is a commercial banking group based in Turkey Co. is engaged in the provision of private, retail, commercial and corporate banking, money market and securities market operations as well as international banking services. Co. provides services to corporations, SMEs and other trading companies (excluding real trading persons) within the course of its corporate and commercial operations. Co. is organized into two main business segments: Banking segment, which includes corporate, retail and private banking, as well as treasury; and non-banking operations, which are followed according to insurance, ‘investment and finance' and ‘manufacturing and trading' segments.

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TRAISCTR91N2 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 - ISCTR 3Q19 Update: Downward guidance revision despite â€œbeatâ€

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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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BGC Partners - ISCTR 3Q19 Update: Downward guidance revision despite â€œbeatâ€