Turkish Banks - 3Q17 Earnings Preview
We expect 3Q17 earnings season to kick off with Akbank on October 25. We project aggregate earnings growth of 9.6% y-o-y for our covered banks but an 11.8% contraction in Q-o-Q terms. We think private banks will see softer earnings contraction than their state peers, as the latter likely suffered from declining CPI linker yields. We expect Garanti Bank to post the strongest earnings performance, despite an estimated discretionary provisioning expense of TRY200 mln, while Vakif Bank and Yapi Kredi Bank are likely to be the laggards on this metric.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.