Education
About Us
Working with TipRanks
Follow Us
Turkiye Garanti Bankasi Anonim Sirketi 144A (TKGZY)
OTHER OTC:TKGZY
Top Page
Turkiye Garanti Bankasi Anonim Sirketi 144A
(OTC:TKGZY)
Select Model
Select Model
Rating:66Neutral
Price Target:―
Turkiye Garanti Bankasi demonstrates solid financial performance with significant income growth and a strong balance sheet. Despite this, technical indicators suggest current market weakness. The low P/E ratio and reasonable dividend yield indicate potential undervaluation, but liquidity challenges and macroeconomic concerns limit the score.
Positive Factors
Revenue Growth
Significant revenue growth indicates the company's ability to expand its market presence and enhance its product offerings, supporting long-term financial stability.
Strong Balance Sheet
A robust balance sheet with high equity and no debt enhances financial resilience, providing a solid foundation for future growth and investment.
Market Share Gains
Increasing market share in key financial products strengthens competitive positioning and supports sustained revenue growth over time.
Negative Factors
Cash Flow Volatility
Volatile cash flows can lead to liquidity challenges, potentially impacting the company's ability to invest in growth opportunities and meet financial obligations.
Higher Inflation Estimate
Rising inflation can erode purchasing power and increase operational costs, posing challenges to maintaining profit margins and consumer demand.
NIM Recovery Postponement
Delayed NIM recovery can pressure profitability, affecting the bank's ability to generate interest income and maintain competitive pricing strategies.
Turkiye Garanti Bankasi Anonim Sirketi 144A (TKGZY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.95B
Dividend Yield18.83%
Average Volume (3M)0.00
Price to Earnings (P/E)4.8
Beta (1Y)0.54
Revenue Growth29.35%
EPS Growth-6.44%
CountryUS
Employees19,521
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.18
Shares Outstanding4,200,000,000
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)0.25
Price to Sales (P/S)0.29
P/FCF Ratio-0.54
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue0.02
Enterprise Value/Gross Profit0.04
Enterprise Value/Ebitda0.20
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Turkiye Garanti Bankasi Anonim Sirketi 144A Business Overview & Revenue Model
Company DescriptionTurkiye Garanti Bankasi A.S. provides various banking products and services. It offers current, savings, time and term deposit, ELMA, structured deposit, and gold accounts; and general purpose, auto, revolving, house, discount, SME project, installment, working capital, foreign currency, mortgage, and other loans, as well as spot TL and foreign currency, letters of guarantee and reference, and overdraft accounts. The company also provides various cards; and auto, liability, health, unemployment, life, house, individual accident, automobile, business premises, fire, freight, engineering, accident, loan, and agriculture insurance products, as well as pension products. In addition, it offers mutual funds, T-bills/government bonds, Eurobonds, repos, equities, dual currency deposit transactions, Turkish derivatives exchange, e-trader, forward transactions, and taxation services; cash management services; and SME specific products, such as support packages, foreign trade financing and legislation, and related services. Further, the company provides leasing, fleet management, factoring, investment and private banking, payment, safety box, and Internet and mobile/SMS banking services. As of December 31, 2021, the company operated 872 branches and 5,401 ATMs. Turkiye Garanti Bankasi A.S. was founded in 1946 and is headquartered in Istanbul, Turkey. As of May 18, 2022, Turkiye Garanti Bankasi A.S. operates as a subsidiary of Banco Bilbao Vizcaya Argentaria, S.A.
How the Company Makes MoneyGaranti Bank generates revenue primarily through interest income from loans and credit facilities provided to retail and corporate customers. Additionally, the bank earns from fees and commissions related to its broad array of financial services, such as transaction processing, asset management, and advisory services. The bank also benefits from its investment banking operations, trading activities, and strategic partnerships that enhance its product offerings and customer reach. Key factors contributing to its earnings include a strong customer base, robust digital banking platforms, and a focus on customer-centric financial solutions.
Turkiye Garanti Bankasi Anonim Sirketi 144A Earnings Call Summary
Earnings Call Date:Oct 30, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jan 29, 2026
Earnings Call Sentiment Neutral
Garanti BBVA reported strong financial performance with record net income and consistent growth in core banking revenues. However, there were challenges such as increased Stage 2 loans and a modest rise in NPL ratio. Despite some revisions in guidance, the bank remains confident in its ability to deliver sustainable value.Q3-2025 Updates
Positive Updates
Record Net Income Growth
Garanti BBVA achieved a quarterly net income growth of 9%, reaching a new record level of TRY 30.9 billion in the third quarter. This resulted in 9 months net earnings of TRY 84.5 billion, translating into a 31% ROE.
Strong NII and Fee Generation
Strong Net Interest Income (NII) improvement and stellar fee generation more than offset the increase in net provisions. NII base grew by 20% with a net interest margin of 5.3%, the highest among Tier 1 private peers.
Consistent Core Banking Revenue Growth
Garanti BBVA delivered consistent growth for 7 consecutive quarters in core banking revenue, with core banking revenues to assets reaching 7.8% in 9 months, the highest level among peers.
Robust Loan Growth
In the third quarter, TL loans grew by 10%, with credit cards and consumer loans leading at 15% and 12% growth, respectively. The bank's market share in TL loans increased to 22%.
Strong Fee Growth
Fee base remained robust, up by 54% year-over-year, supported by strong cash and noncash loan growth and increasing wealth management fees.
Negative Updates
Increased Stage 2 Loans
There was an increase in Stage 2 loans due to retail restructuring-related activities. The Stage 2 coverage ratio declined as a result.
NPL Ratio Increase
Non-Performing Loan (NPL) ratio rose modestly to 2.8%, attributed to the robust consumer and credit card growth in recent years.
Net Provisions Increase
Net provisions increased Q-on-Q, mainly due to an exceptionally low base in the second quarter, which benefited from large ticket provision reversals.
Guidance Revision on NIM Expansion
The NIM expansion guidance was revised down to 1.5% to 2% due to changes in policy rate expectations and the impact of TL deposit regulations.
Company Guidance
During Garanti BBVA's third quarter 2021 earnings call, the company revised various financial metrics while maintaining their return on equity (ROE) guidance. They adjusted their year-end net cost of risk expectation to below 2% due to high provision reversals and revised down their net interest margin (NIM) expansion guidance to 1.5% to 2%, reflecting changes in policy rate expectations and TL deposit regulations. Despite these adjustments, Garanti BBVA achieved a 31% ROE over nine months, with a new record net income of TRY 30.9 billion in the third quarter, driven by a 9% quarterly growth. Their fee growth guidance was also revised upward, expecting fee coverage of operating expenses to be between 90% and 95%. These strategic adjustments underscore their confidence in achieving sustained financial performance amidst a dynamic economic environment.Turkiye Garanti Bankasi Anonim Sirketi 144A Financial Statement Overview
Summary
Turkiye Garanti Bankasi Anonim Sirketi demonstrates strong growth with revenue and net income significantly increasing over the years. The balance sheet is robust with high equity and no debt recorded in 2024. However, cash flow volatility in the latest period indicates potential liquidity challenges.Income Statement
The company exhibits strong revenue growth, with total revenue increasing significantly over the years, from 39.19 billion in 2020 to 287.17 billion in 2024. The net profit margin has improved, with net income rising from 6.31 billion in 2020 to 91.24 billion in 2024. However, EBIT margins are unavailable for 2024, which may indicate changes in operational efficiency.85
Very Positive
Balance Sheet
The balance sheet is strong with a high equity level. Stockholders' equity increased from 62.16 billion in 2020 to 329.79 billion in 2024. The company has no total debt recorded in 2024, indicating a stable financial position. The equity ratio is robust, showing a solid capital structure. However, potential risks could arise if liabilities grow faster than equity in the future.80
Positive
Cash Flow
Operating cash flows have shown volatility, with negative figures in 2024. This indicates potential liquidity challenges. Free cash flow has also declined recently, suggesting the need for careful cash management. Despite this, previous years exhibited strong cash generation, providing a cushion for short-term fluctuations.75
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 603.86B | 287.17B | 346.52B | 177.72B | 85.59B | 53.19B |
| Gross Profit | 345.95B | 287.17B | 199.32B | 133.01B | 61.46B | 39.19B |
| EBITDA | 67.92B | 0.00 | 109.31B | 78.23B | 19.35B | 10.11B |
| Net Income | 100.03B | 91.24B | 86.37B | 58.29B | 13.47B | 6.31B |
Balance Sheet | ||||||
| Total Assets | 3.82T | 3.00T | 2.20T | 1.30T | 850.48B | 540.91B |
| Cash, Cash Equivalents and Short-Term Investments | 804.78B | 591.84B | 474.34B | 200.82B | 182.89B | 84.55B |
| Total Debt | 343.48B | 223.97B | 150.11B | 104.47B | 97.20B | 58.26B |
| Total Liabilities | 3.44T | 2.67T | 1.96T | 1.15T | 770.17B | 478.50B |
| Stockholders Equity | 377.35B | 329.79B | 244.70B | 152.64B | 79.98B | 62.16B |
Cash Flow | ||||||
| Free Cash Flow | -65.65B | -155.25B | 186.17B | 43.63B | 31.02B | -972.03M |
| Operating Cash Flow | -51.64B | -145.82B | 191.28B | 45.76B | 32.31B | 293.01M |
| Investing Cash Flow | -21.13B | -46.85B | -81.76B | -55.25B | -12.41B | -11.72B |
| Financing Cash Flow | 136.23B | 95.27B | 10.45B | 25.67B | 29.34B | 13.72B |
Turkiye Garanti Bankasi Anonim Sirketi 144A Technical Analysis
Positive
3.32
Price Trends
3.15
Positive
3.32
Positive
3.20
Positive
Market Momentum
0.04
Positive
60.65
Neutral
52.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TKGZY, the sentiment is Positive. The current price of 3.32 is above the 20-day moving average (MA) of 3.28, above the 50-day MA of 3.15, and above the 200-day MA of 3.20, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 60.65 is Neutral, neither overbought nor oversold. The STOCH value of 52.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TKGZY.
Turkiye Garanti Bankasi Anonim Sirketi 144A Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $19.08B | 14.90 | 21.29% | 5.58% | -11.64% | -8.75% | |
71 Outperform | $15.78B | 16.04 | 17.06% | 10.45% | -6.79% | 16.13% | |
70 Outperform | $13.72B | 6.39 | 9.61% | 3.76% | -2.90% | 16.10% | |
69 Neutral | $14.43B | 12.91 | 24.13% | 4.33% | 12.43% | 56.30% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $13.95B | 4.84 | 30.76% | 18.83% | 29.35% | -6.44% | |
66 Neutral | $21.87B | 20.99 | 9.34% | 5.17% | 1.13% | -11.93% |
* Financial Sector Average
TKGZY
Turkiye Garanti Bankasi Anonim Sirketi 144A
3.32
-0.24
-6.74%
BCH
Banco De Chile
37.69
16.23
75.63%
BSBR
Banco Santander Brasil
5.89
2.23
60.93%
BSAC
Banco Santander Chile
30.69
12.73
70.88%
CIB
Grupo Cibest
62.68
34.35
121.25%
WF
Woori Finance Holdings Co
57.07
24.99
77.90%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.