Report
Research Team

WOOD Daily: ELM AB; ALPHA GA; AIRA LI; ADNOCDRI UH; ADNOCDRI UH; EME Macro/Strategy Weekly; GARAN TI; TL Automotive; PKO PW

HEADLINES:
• Elm: 2Q24 financial results review POSITIVE
• Alpha Services and Holdings: 2Q24 highlights – similar trends vs. peers, guidance upgrade, catching up on CET1 and NPE ratios
• Air Astana Group: 2Q24 – first look – in line NEUTRAL
• ADNOC Drilling: 2Q results and interim dividend NEUTRAL
• ADNOC Drilling: Enersol JV makes third acquisition NEUTRAL
• EME Macro/Strategy: macro all-in-one (29 July-4 August)
• Garanti Bank: CEO resigns NEUTRAL
• Turkish automotive: ADA releases July light vehicle sales data NEUTRAL
• PKO BP: 2Q24E preview (due on 22 August)
Underlyings
ADNOC DRILLING CO

AIR ASTANA JSC

Alpha Bank AE

Alpha Bank is a banking and financial services group which is based in Greece. Co. is engaged in offering a range of services including retail, SME and corporate banking, credit cards, asset management, investment banking, private banking, brokerage, leasing and factoring. Co. is also active in international financial market, with a presence in Cyprus, Romania, London, Serbia, Albania, Jersey (Channel Islands), Bulgaria, former Yugoslav Republic of Macedonia and New York. Co. maintains a focus on retail banking in Greece and particularly loans to individuals and small business loans, and overall expansion in Southeastern Europe. Co.'s activities are divided into retail and wholesale banking.

PKO Bank Polski S.A.

PKO Bank Polski is a universal commercial bank offering services to both domestic and foreign retail, corporate and other clients. Co. is licensed to hold foreign exchange and currencies and sell/buy them, as well as perform a full range of foreign exchange services; open and hold bank accounts abroad and to deposit foreign exchange in these accounts. In addition, Co. conducts activities relating to leasing, factoring, electronic settlements via payment cards, as well as renders other financial services. As of Dec 31 2009, Co. had total assets of Zl156,478,685,000 and total deposit of Zl124,628,562,000. Co. operates in the Republic of Poland, Ukraine and Sweden.

Provider
Wood and Company
Wood and Company

WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.

A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.

Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.

We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.

Analysts
Research Team

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