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Turkiye Garanti Bankasi AS (TKGBY)
OTHER OTC:TKGBY
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.17Last Year’s EPS
0.23Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: 18.07%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Neutral
Garanti BBVA demonstrated strong financial performance and growth in core banking revenues despite regulatory challenges and an increase in cost of risk. The bank maintained high asset quality and a resilient funding strategy, though faced rising NPL inflows and regulatory pressures.Company Guidance
During Garanti BBVA's Q3 2024 earnings call, the bank provided detailed guidance amidst a complex market environment. The Turkish economy is experiencing a mild slowdown, with GDP growth anticipated to hover around 3% in the short term. The bank expects monthly inflation to dip below 2% by the end of 2024, potentially leading to an annualized rate of about 25% in 2025. Garanti BBVA maintained robust financial performance with a net income of TRY 22.4 billion for the quarter, contributing to a nine-month total of TRY 67 billion, marking a 27% year-on-year growth. The bank achieved a return on average assets of 3.5% and a return on average equity of 33%. Core banking revenues soared by 58% year-on-year, with net fees and commissions growing 2.5-fold. Turkish lira loan portfolio exceeded TRY 1 trillion, with notable growth in credit cards and consumer loans. Despite pressures from regulatory changes, the bank upheld strong asset quality, with a cost of risk forecasted to reach 125 basis points by year-end. Garanti BBVA continues to leverage its high share of demand deposits and maintains a low leverage ratio of 8.5x equity, anticipating a strategic focus on capital-generative growth, digital transformation, and customer experience in the coming year.Strong Financial Performance
Garanti BBVA posted a net income of TRY 22.4 billion for Q3 2024, with a 27% year-on-year earnings growth, maintaining a return on average assets of 3.5% and a return on average equity of 33%.
Robust Core Banking Revenue Growth
Core banking revenues grew by 12% quarterly and 58% year-on-year, driven by a 2.5-fold growth in net fees and commissions.
Turkish Lira Loan Growth
Turkish lira lending grew by 8% in the quarter, with a year-to-date growth of 38%, driven by consumer loans, credit cards, and strategic investments.
High Asset Quality
88% of the loan book is in Stage 1, indicating strong asset quality. The NPL ratio increased slightly to 2.1% from 1.9% in the first half.
Resilient Funding Strategy
The bank maintained a high share of demand deposits, supporting margin outperformance. Turkish lira deposits grew by 6% in the quarter, making up 56% of total deposits.
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TKGBY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TKGBY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $3.21 | $3.16 | -1.56% |
| Jul 30, 2024 | $3.82 | $3.58 | -6.28% |
| Apr 29, 2024 | $2.49 | $2.53 | +1.61% |
| Jan 29, 2024 | $2.01 | $2.01 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Turkiye Garanti Bankasi AS (TKGBY) report earnings?
Turkiye Garanti Bankasi AS (TKGBY) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Turkiye Garanti Bankasi AS (TKGBY) earnings time?
Turkiye Garanti Bankasi AS (TKGBY) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TKGBY EPS forecast?
TKGBY EPS forecast for the fiscal quarter 2024 (Q4) is 0.17.
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