Turkey's Akbank 2Q Net Profit Seen 16% Down -- Market Talk
21 Julho 2014 - 12:32PM
Dow Jones News
Akbank (AKBNK.IS): 2Q Earnings
Due: July 23
DJ Survey of 5 Analysts
Average Net Profit: TRY771M, down 16% (TRY914M in 2Q 2013)
Average Net Interest Income: TRY1.64B, up 9.3% (TRY1.5B in 2Q 2013)
Note: Unconsolidated net profit is seen down due to contraction
on the core margin spread and high swap costs, according to
analysts. However, analysts expect the bank's net interest margins
to increase, thanks to higher CPI linkers yield. "We project the
bank to record strong trading gains on its securities book, which
is likely to neutralize the negative impact of TRY200 million swap
costs on the bottom line," says Finansinvest. Analysts will focus
on the impact of the trading gains on the bank's bottom line.
(yeliz.candemir@wsj.com)
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