Tolu Alamutu

Tellimer Research

Credit Research Analyst, Banks @ Tellimer Research

Covering banks in a number of markets including Nigeria, Ukraine and Kazakhstan, Tolu brings experience from leading the CEEMEA Corporate Credit Research team at Bank of America Merrill Lynch (BofAML), where she covered 50 banks across the region, and, previously, financial institutions in Western Europe. Tolu has a BSc in economics from LSE, and is a CFA Charterholder.

Tolu Alamutu
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Latest articles from Tolu Alamutu

Privatbank: Unfinished business

Since we last wrote about Privatbank (PRBANK), Ukraine’s much-discussed banking law has been passed. Passage of the banking law does not preclude a settlement with holders of senior PRBANK eurobonds that are not linked to the former owners of the ban...
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Tolu Alamutu @ Tellimer Research 29 May 2020

Transcapitalbank in the news: Asking for forever

Transcapitalbank (TRACAP) announced a consent solicitation in respect of its September 2020 bond on 27 May. The lender isseeking to amend the terms of this short-dated security to allow for its treatment as Basel III Tier 1 capital. In 2015, the term...
Tellimer Research
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Tolu Alamutu @ Tellimer Research 28 May 2020
Transcapitalbank in the news: Asking for forever
Transcapitalbank in the news: Asking for forever

TBC Bank: Q1 results highlights – Still worth holding on to

Still worth holding on to: TBC Bank (TBCBGE) reported results for Q1 20 on May 20. The net loss was narrower than at Bank of Georgia (cGEL100mn net loss), but there was a smaller difference in the pre-tax result of both banks (GEL113mn pre-tax loss a...
Tellimer Research
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Tolu Alamutu @ Tellimer Research 26 May 2020

Bank of Georgia: Q1 results highlights

Buy recommendations unchanged: Bank of Georgia (GEBGG) reported results for Q1 20 on 14 May. The net loss of almost GEL100mn equated to an annualised ROE of -18.6%. Operating income actually improved yoy and despite recording a marked rise in costs, ...
Tellimer Research
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Tolu Alamutu @ Tellimer Research 26 May 2020

Ziraat: Q1 results highlights – All-round solid performance

All-round solid performance:Ziraat (TCZIRA) reported results for Q1 20 on 15 May. Net income of TRY2.5bn was about 50% higher than a year ago, primarily reflecting strong net interest income. This will be an important thing to monitor over the next f...
Tellimer Research
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Tolu Alamutu @ Tellimer Research 26 May 2020

Halkbank: Q1 results highlights – Some improvements

Some improvements: Halkbank (HALKBK) reported results for Q1 20 on 14 May. The issuer also hosted a conference call. Consolidated net income of more than TRY1.1bn for Q1 20 compares to net income of just TRY173mn a year ago. Capital ratios declined, ...
Tellimer Research
Tolu
Tolu Alamutu @ Tellimer Research 26 May 2020

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