Earnings Report /
Turkey

Akbank: Better cost of risk help beat estimates

  • Akbank posted 3Q21 NI of TL3,209mn (+52% q/q and +111% y/y), 22% higher than our and 16% higher than consensus estimate.

  • Akbank shares are down 17% year-to-date vs. -17% for BIST banking index and -2.2% for BIST-100.

  • TL loans are up 19.2% q/q in 3Q21, while FX loan volumes remained flat.

Batuhan Ozsahin
ATA Invest
27 October 2021
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