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Turkiye Garanti Bankasi Anonim Sirketi 144A (TKGZY)
OTHER OTC:TKGZY
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: -2.90%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a strong financial performance with significant net income and core banking revenue growth. However, there are challenges related to increased cost of risk and NPL formation in retail, along with uncertainties in regulatory impacts and monetary policy. The bank remains optimistic about navigating these challenges through strategic focus and digital advancements.Company Guidance
During the third quarter of 2024, Garanti BBVA reported strong financial performance, achieving a net income of TRY 22.4 billion, which contributed to a nine-month total of TRY 67 billion, reflecting a 27% year-on-year growth when adjusted for last year's provision reversal. The bank maintained a return on average assets of 3.5% and a return on average equity of 33%. Core banking revenues grew by 12% quarterly and 58% year-on-year, driven by a significant 18% quarterly and 2.5-fold annual increase in net fees and commissions. Turkish lira lending saw an 8% growth in the quarter, with a year-to-date increase of 38%, while foreign currency lending achieved double-digit growth. Despite regulatory changes affecting funding costs, the bank's core net interest margin rose slightly to 2%, supported by managing funding costs and maintaining high loan yields. The bank's asset quality remained robust, with 88% of the total TRY 1.7 trillion loan book in Stage 1, and total provisions reaching TRY 76.5 billion, representing a 4.5% coverage. Garanti BBVA's focus on customer-driven asset mix and efficient cost management contributed to a best-in-class performance, while digitalization efforts expanded their active customer base to 16.3 million. Looking ahead, the bank aims to continue its capital-generative growth strategy, with an expectation of moderate interest rate cuts and regulatory adjustments to support economic stabilization.Strong Net Income Growth
Garanti BBVA sustained its best-in-class performance with a TRY 22.4 billion of net income for Q3 2024, bringing the 9 months net income to TRY 67 billion, representing a 27% year-on-year earnings growth.
Core Banking Revenue Growth
Quarterly growth of 12% in core banking revenues led to a cumulative year-on-year growth of 58%, driven by net fees and commissions with an 18% quarterly and 2.5-fold annual growth.
Market Leadership in Turkish Lira Loans
Achieved a year-to-date Turkish lira loan growth of 38%, surpassing the TRY 1 trillion mark, with substantial growth in credit cards (49%), consumer loans (40%), and business loans (28%).
High Asset Quality
88% of the total loan portfolio is in Stage 1, with a strong provision level of TRY 76.5 billion, representing a 4.5% total cash coverage.
Resilient Margins
Despite regulatory changes, quarterly margin improvement of 50 basis points was achieved, with expectations for higher net interest margins in Q4.
Digital Growth
The bank's digital active customers reached 16.3 million, with digital sales accounting for 89% of total sales.
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Turkiye Garanti Bankasi Anonim Sirketi 144A (TKGZY) Earnings, Revenues Date & History
TKGZY 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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TKGZY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 29, 2025 | $3.79 | $3.77 | -0.53% |
| 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% |
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 Anonim Sirketi 144A (TKGZY) report earnings?
Turkiye Garanti Bankasi Anonim Sirketi 144A (TKGZY) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Turkiye Garanti Bankasi Anonim Sirketi 144A (TKGZY) earnings time?
Turkiye Garanti Bankasi Anonim Sirketi 144A (TKGZY) 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 TKGZY EPS forecast?
Currently, no data Available
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