Türkiye Garanti Bankasi - Die letzten 30 Beiträge
eröffnet am 05.07.19 17:16:01 von
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neuester Beitrag 21.12.23 13:34:34 von
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Werte aus der Branche Finanzdienstleistungen
Wertpapier | Kurs | Perf. % |
---|---|---|
3,0000 | +500,00 | |
1,9500 | +56,00 | |
1,2900 | +36,33 | |
2,7050 | +14,14 | |
13,000 | +11,11 |
Wertpapier | Kurs | Perf. % |
---|---|---|
5,8400 | -11,65 | |
5,0800 | -11,83 | |
3,90 | -15,22 | |
9,8500 | -17,92 | |
0,7500 | -25,00 |
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21.12.
Türkische Notenbank stockt Leitzins erneut auf - baldiges Ende der Anhebungen erwartet
https://www.finanzen.net/nachricht/zinsen/vor-jahreswende-tu…
...
Die Währungshüter hoben den Schlüsselsatz auf 42,50 Prozent von 40,0 Prozent an, wie die Notenbank am Donnerstag mitteilte. Von Reuters befragte Experten hatten damit gerechnet. Es ist bereits der siebte Zinsschritt, seit die neue Zentralbankchefin Hafize Gaye Erkan im Juni das Ruder übernahm und die Geldpolitik auf einen straffen Kurs ausrichtete. Die Notenbank hatte das Zinsniveau dabei zuletzt dreimal in Folge um jeweils fünf Prozentpunkte nach oben geschleust.
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Türkische Notenbank stockt Leitzins erneut auf - baldiges Ende der Anhebungen erwartet
https://www.finanzen.net/nachricht/zinsen/vor-jahreswende-tu…
...
Die Währungshüter hoben den Schlüsselsatz auf 42,50 Prozent von 40,0 Prozent an, wie die Notenbank am Donnerstag mitteilte. Von Reuters befragte Experten hatten damit gerechnet. Es ist bereits der siebte Zinsschritt, seit die neue Zentralbankchefin Hafize Gaye Erkan im Juni das Ruder übernahm und die Geldpolitik auf einen straffen Kurs ausrichtete. Die Notenbank hatte das Zinsniveau dabei zuletzt dreimal in Folge um jeweils fünf Prozentpunkte nach oben geschleust.
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30.11.
S&P unexpectedly revises Turkey's outlook to positive, rating affirmed
https://www.nasdaq.com/articles/sp-unexpectedly-revises-turk…
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S&P Global Ratings on Thursday revised Turkey's sovereign credit outlook to positive from stable on subsiding twin deficits and affirmed its rating at "B".
The move comes outside of a strict ratings calendar and S&P said the deviation complies with recent policy adjustments including last week's 10 percentage point hike in the central bank's benchmark rate to 40% as well as "the monthly current account surplus posted in September, and the recovery in usable reserves during the first 17 days of November."
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S&P unexpectedly revises Turkey's outlook to positive, rating affirmed
https://www.nasdaq.com/articles/sp-unexpectedly-revises-turk…
...
S&P Global Ratings on Thursday revised Turkey's sovereign credit outlook to positive from stable on subsiding twin deficits and affirmed its rating at "B".
The move comes outside of a strict ratings calendar and S&P said the deviation complies with recent policy adjustments including last week's 10 percentage point hike in the central bank's benchmark rate to 40% as well as "the monthly current account surplus posted in September, and the recovery in usable reserves during the first 17 days of November."
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23.11.
Turkey's central bank hikes interest rate by 500 basis points to 40%, well above expectations
https://www.msn.com/en-us/money/other/turkey-s-central-bank-…
...
• Turkey's central bank hiked its key interest rate to 40% on Thursday.
• The increase was double economists' expectations, who had forecast a 250-basis-point hike.
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The move was seen as a continuation of the bank's attempt to combat high inflation and a weak lira, the Turkish currency. Inflation in the country came in at a whopping 61% in October.
Turkey's central bank hikes interest rate by 500 basis points to 40%, well above expectations
https://www.msn.com/en-us/money/other/turkey-s-central-bank-…
...
• Turkey's central bank hiked its key interest rate to 40% on Thursday.
• The increase was double economists' expectations, who had forecast a 250-basis-point hike.
...
The move was seen as a continuation of the bank's attempt to combat high inflation and a weak lira, the Turkish currency. Inflation in the country came in at a whopping 61% in October.
24.8.
Massive Zinsanhebung in der Türkei
https://www.n-tv.de/wirtschaft/der_boersen_tag/Massive-Zinsa…
...
Die türkische Notenbank hat angesichts der hohen Inflation den Leitzins deutlich stärker als erwartet angehoben. Der Leitzins steigt um 7,5 Prozentpunkte auf 25,0 Prozent, wie die Notenbank in Ankara nach ihrer geldpolitischen Sitzung mitteilte. Volkswirte hatten im Schnitt lediglich mit einem Leitzins von 20,0 Prozent gerechnet. Es war die dritte Zinserhöhung in Folge. Der Leitzins liegt aber weiter unter der Inflationsrate, die im Juli auf 47,8 Prozent gestiegen war.
Mit dem großen Zinsschritt am Donnerstag dürften die Notenbanker daher auch versucht haben, ihre Entschlossenheit im Kampf gegen die hohe Inflation zu untermauern. Die vor allem seit Mai im Wert nochmals deutlich gefallene türkische Lira legte am Devisenmarkt zu Euro und US-Dollar zu.
Massive Zinsanhebung in der Türkei
https://www.n-tv.de/wirtschaft/der_boersen_tag/Massive-Zinsa…
...
Die türkische Notenbank hat angesichts der hohen Inflation den Leitzins deutlich stärker als erwartet angehoben. Der Leitzins steigt um 7,5 Prozentpunkte auf 25,0 Prozent, wie die Notenbank in Ankara nach ihrer geldpolitischen Sitzung mitteilte. Volkswirte hatten im Schnitt lediglich mit einem Leitzins von 20,0 Prozent gerechnet. Es war die dritte Zinserhöhung in Folge. Der Leitzins liegt aber weiter unter der Inflationsrate, die im Juli auf 47,8 Prozent gestiegen war.
Mit dem großen Zinsschritt am Donnerstag dürften die Notenbanker daher auch versucht haben, ihre Entschlossenheit im Kampf gegen die hohe Inflation zu untermauern. Die vor allem seit Mai im Wert nochmals deutlich gefallene türkische Lira legte am Devisenmarkt zu Euro und US-Dollar zu.
21.8.
Turkish Banks Tumble After Central Bank’s Move, Bonds Rally
https://news.yahoo.com/turkish-banks-tumble-central-bank-080…
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Via a regulation introduced over the weekend, the central bank aims to reduce Turks’ reliance on FX-linked deposit accounts and compel banks that fail to meet specific conversion targets into regular lira accounts to purchase additional government bonds.
The monetary authority also boosted the reserve requirement ratios for short-term FX deposits, which will force banks to park more foreign currency at the regulator.
The decision is expected to “increase Turkish lira deposit rates substantially, making them more attractive, while FX-protected lira deposit rates may decline sharply, reducing the scheme’s appeal,” Istanbul-based Oyak Securities wrote in a note. “The impact on foreign currency demand hinges on the lira deposit rates. Loan interest rates are likely to rise notably,” it said.
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Turkish Banks Tumble After Central Bank’s Move, Bonds Rally
https://news.yahoo.com/turkish-banks-tumble-central-bank-080…
...
Via a regulation introduced over the weekend, the central bank aims to reduce Turks’ reliance on FX-linked deposit accounts and compel banks that fail to meet specific conversion targets into regular lira accounts to purchase additional government bonds.
The monetary authority also boosted the reserve requirement ratios for short-term FX deposits, which will force banks to park more foreign currency at the regulator.
The decision is expected to “increase Turkish lira deposit rates substantially, making them more attractive, while FX-protected lira deposit rates may decline sharply, reducing the scheme’s appeal,” Istanbul-based Oyak Securities wrote in a note. “The impact on foreign currency demand hinges on the lira deposit rates. Loan interest rates are likely to rise notably,” it said.
...
15.8.
Turkish Banks Jump After Moody’s Lifts Sector Outlook to Stable
https://finance.yahoo.com/news/turkish-banks-jump-moody-lift…
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Moody’s Investors Service raised the Turkish banking system’s outlook to stable from negative, boosting the nation’s lenders to all-time highs.
The Borsa Istanbul Banking Sector Index, a gauge that tracks shares of Turkey’s listed lenders, reversed losses and rose as much as 4.1% to the highest level ever on a closing basis. It was trading 0.8% higher as of 4:42 p.m. in Istanbul.
The credit-rating firm said Tuesday that the turnaround in Turkey’s monetary policies following presidential elections in May was “positive” and supported banks’ operating conditions. High inflation, and a weakening lira may slow economic growth to a projected 4.2% at the end of 2023 from last year’s 5.6%, affecting banks’ asset quality, Moody’s analysts wrote in the report.
The upgrade to the sector outlook comes only days after Moody’s became the first of the top three rating firms to raise the possibility of giving Turkish sovereign debt a better assessment, citing an improvement in the country’s finances.
...
Turkish Banks Jump After Moody’s Lifts Sector Outlook to Stable
https://finance.yahoo.com/news/turkish-banks-jump-moody-lift…
...
Moody’s Investors Service raised the Turkish banking system’s outlook to stable from negative, boosting the nation’s lenders to all-time highs.
The Borsa Istanbul Banking Sector Index, a gauge that tracks shares of Turkey’s listed lenders, reversed losses and rose as much as 4.1% to the highest level ever on a closing basis. It was trading 0.8% higher as of 4:42 p.m. in Istanbul.
The credit-rating firm said Tuesday that the turnaround in Turkey’s monetary policies following presidential elections in May was “positive” and supported banks’ operating conditions. High inflation, and a weakening lira may slow economic growth to a projected 4.2% at the end of 2023 from last year’s 5.6%, affecting banks’ asset quality, Moody’s analysts wrote in the report.
The upgrade to the sector outlook comes only days after Moody’s became the first of the top three rating firms to raise the possibility of giving Turkish sovereign debt a better assessment, citing an improvement in the country’s finances.
...
der türkische Aktienmarkt heute naheliegenderweise im Eimer (in U.S. dollar):
https://www.marketwatch.com/investing/fund/tur
https://www.marketwatch.com/investing/fund/tur
$TKGBY als eine Wette gegen die Wiederwahl von Erdoğan am Sonntag?
31.1.
HSBC Says It’s Payback Time for Turkey Banks After Inflation Win
https://finance.yahoo.com/news/hsbc-says-payback-time-turkey…
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Turkish banks were among the biggest winners to emerge from the worst inflation crisis under President Recep Tayyip Erdogan but profits are expected to crater this year as lower inflation and regulatory pressures squeeze margins.
The combined earnings for the country’s six largest-listed lenders such as Akbank and Garanti may fall as much as 30% this year, according to Bloomberg Intelligence. HSBC Holdings Plc estimates that falling net interest income and inflationary pressures on costs may lead to a 34% drop in earnings.
After earning lucrative yields on bonds linked to consumer prices and subsidized currency protected deposits, “payback time has arrived for Turkish banks,” HSBC analyst Cihan Saraoglu said in a note. Higher deposit rates, lending caps and regulations that force banks to hold low-yield government debt while paying commission on FX reserves will see record profits get “taxed indirectly,” he said.
Banks in Turkey are part of a financial industry that’s been intensely micromanaged by authorities last year in an effort to channel cheaper credit to businesses and boost favored industries ahead of crucial presidential elections in May.
Fourth-quarter earnings are expected to be their highest ever, pushing full-year net income to a record, according to median estimates of analysts surveyed by Bloomberg. Across the industry, the combined profit for the nation’s lenders jumped more than fourfold to 433.5 billion liras last year, up from 92.9 billion liras in 2021, according to official data.
The bounce in earnings follows a period of ultra-loose monetary policy in the country after inflation soared to its highest level in over two decades. The relaxed policy created a borrowing opportunity for banks, who saw their net interest margins widen as they continued to lend out at higher rates. High inflation also boosted their earnings from bonds linked to consumer prices and led to faster loan and fee growth in nominal terms.
...
HSBC Says It’s Payback Time for Turkey Banks After Inflation Win
https://finance.yahoo.com/news/hsbc-says-payback-time-turkey…
...
Turkish banks were among the biggest winners to emerge from the worst inflation crisis under President Recep Tayyip Erdogan but profits are expected to crater this year as lower inflation and regulatory pressures squeeze margins.
The combined earnings for the country’s six largest-listed lenders such as Akbank and Garanti may fall as much as 30% this year, according to Bloomberg Intelligence. HSBC Holdings Plc estimates that falling net interest income and inflationary pressures on costs may lead to a 34% drop in earnings.
After earning lucrative yields on bonds linked to consumer prices and subsidized currency protected deposits, “payback time has arrived for Turkish banks,” HSBC analyst Cihan Saraoglu said in a note. Higher deposit rates, lending caps and regulations that force banks to hold low-yield government debt while paying commission on FX reserves will see record profits get “taxed indirectly,” he said.
Banks in Turkey are part of a financial industry that’s been intensely micromanaged by authorities last year in an effort to channel cheaper credit to businesses and boost favored industries ahead of crucial presidential elections in May.
Fourth-quarter earnings are expected to be their highest ever, pushing full-year net income to a record, according to median estimates of analysts surveyed by Bloomberg. Across the industry, the combined profit for the nation’s lenders jumped more than fourfold to 433.5 billion liras last year, up from 92.9 billion liras in 2021, according to official data.
The bounce in earnings follows a period of ultra-loose monetary policy in the country after inflation soared to its highest level in over two decades. The relaxed policy created a borrowing opportunity for banks, who saw their net interest margins widen as they continued to lend out at higher rates. High inflation also boosted their earnings from bonds linked to consumer prices and led to faster loan and fee growth in nominal terms.
...
türkische Aktien -- der Knaller 2022:
25.8.
Turkish Stock Rally Lures Biggest Foreign Inflows in a Year
https://www.bnnbloomberg.ca/turkish-stock-rally-lures-bigges…
...
Overseas investors ramped up purchases of Turkish stocks at the fastest pace since November, joining a rally fueled by local investors seeking protection from the fastest inflation in a quarter century.
Foreigners poured a net $366 million into Turkish equities in the week ended Aug. 19, according to central bank data. Stocks have climbed 68% in local currency terms so far this year, the most worldwide. In dollar terms, they’re the third-best performer.
A surprise central bank interest-rate cut last week rattled traders and sent the lira close to a record low, adding fresh impetus to the hunt for investments offering protection against price growth. As Turks pile into equities to safeguard their savings, foreign cash is returning too as investors seize the opportunity for higher returns.
Still, the pickup in inflows has yet to offset the foreign exodus since the start of the year. Total year-to-date outflows stand at about $2.9 billion.
...
=>
https://tradingeconomics.com/turkey/stock-market
Turkish Stock Rally Lures Biggest Foreign Inflows in a Year
https://www.bnnbloomberg.ca/turkish-stock-rally-lures-bigges…
...
Overseas investors ramped up purchases of Turkish stocks at the fastest pace since November, joining a rally fueled by local investors seeking protection from the fastest inflation in a quarter century.
Foreigners poured a net $366 million into Turkish equities in the week ended Aug. 19, according to central bank data. Stocks have climbed 68% in local currency terms so far this year, the most worldwide. In dollar terms, they’re the third-best performer.
A surprise central bank interest-rate cut last week rattled traders and sent the lira close to a record low, adding fresh impetus to the hunt for investments offering protection against price growth. As Turks pile into equities to safeguard their savings, foreign cash is returning too as investors seize the opportunity for higher returns.
Still, the pickup in inflows has yet to offset the foreign exodus since the start of the year. Total year-to-date outflows stand at about $2.9 billion.
...
=>
https://tradingeconomics.com/turkey/stock-market
31.5.
Turkish Quest to Hedge Inflation Fuels World-Beating Stocks Boom
https://www.bnnbloomberg.ca/turkish-quest-to-hedge-inflation…
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Turkish stocks have outpaced every equity market in the world this year in local currency terms as domestic investors clamor for assets that can shield against soaring inflation.
The Borsa Istanbul 30 index of blue-chip firms has surged 39% so far in 2022, just shading out Lebanon’s Blom Index. The Borsa Istanbul 100 Index, Turkey’s benchmark, is up 37%.
A jump in the inflation rate to almost 70%, coupled with a government-led pause to interest-rate hikes, has left Turks with limited choices for where to park their savings. The trend has powered stellar gains for companies such as Turkish Airlines, up 145% since the start of January, or steelmaker Eregli Demir ve Celik Fabrikalari TAS, which has gained almost 40%.
“There’s not much option for where Turkish money can go,” said Burak Cetinceker, a money manager at Istanbul-based Strateji Portfoy, in a phone interview. “It’s impossible for savers to ignore Turkish equities if they want to protect their savings from inflation.”
Gains for Turkish equities are in contrast to the losses seen in global stock markets on concerns over recession risks as surging inflation spurs central banks to ramp up rate hikes. The scale of the advance is such that the country’s BIST 30 index is still up more than 12% in dollar terms, among the top 15 performers worldwide, even after the lira plunged 19% since the start of the year.
...
70%
5.5.
Triple-Digit Factory Inflation Stirs Up Storm for Turkish Prices
• Consumer inflation reaches 70%, staying at highest since 2002
• Prices fueled by low interest rates, weak lira, food, energy
https://news.yahoo.com/turkish-inflation-accelerates-70-driv…
...
Turkish policy makers have mainly heeded Erdogan’s demands for lower rates since he expanded his powers with 2018 elections. Erdogan sacked three central bank governors for not toeing his line, and installed Kavcioglu, a former lawmaker of the ruling party, in March last year.
With Kavcioglu at the helm, the central bank’s key one-week repo rate of 14% corresponds to the world’s lowest -- at about negative 56 -- when adjusted for prices.
...
5.5.
Triple-Digit Factory Inflation Stirs Up Storm for Turkish Prices
• Consumer inflation reaches 70%, staying at highest since 2002
• Prices fueled by low interest rates, weak lira, food, energy
https://news.yahoo.com/turkish-inflation-accelerates-70-driv…
...
Turkish policy makers have mainly heeded Erdogan’s demands for lower rates since he expanded his powers with 2018 elections. Erdogan sacked three central bank governors for not toeing his line, and installed Kavcioglu, a former lawmaker of the ruling party, in March last year.
With Kavcioglu at the helm, the central bank’s key one-week repo rate of 14% corresponds to the world’s lowest -- at about negative 56 -- when adjusted for prices.
...
BBVA bekommt die Turkiye Garanti Bankasi für 'n Appel und 'n Ei -- und sie sagen das auch noch:
29.11.
https://www.reuters.com/business/finance/ceo-spains-bbva-say…
Sie bezahlen den Kaufpreis in Türkischer Lira
29.11.
https://www.reuters.com/business/finance/ceo-spains-bbva-say…
Sie bezahlen den Kaufpreis in Türkischer Lira
es scheinen sich erste Unruhen in der Türkei auszubreiten:
https://twitter.com/HergelePostasi/status/146317996956422963…
https://twitter.com/HergelePostasi/status/146317996956422963…
15.11.
BBVA Boosts Bet on Turkey in $2.6 Billion Bid for Garanti
https://finance.yahoo.com/news/bbva-seeks-control-turkey-gar…
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Banco Bilbao Vizcaya Argentaria SA is seeking full control of its Turkish unit in a deal valued at as much as 25.7 billion liras ($2.56 billion), increasing its bet on the country amid a slump in the nation’s currency.
The Spanish lender will offer 12.20 liras per share for the 50.15% it doesn’t own in Turkiye Garanti Bankasi AS, according to a statement from the bank on Monday. That represents a premium of about 15% over Garanti’s closing price on Nov. 12.
BBVA first bought a stake in Garanti about a decade ago and then boosted its position to just under 50% in 2017. Turkey is currently the third-largest market for BBVA in terms of profit contribution and executives have repeatedly defended their focus on the emerging market, even amid increasingly unorthodox monetary policy that’s pushing the lira to record lows.
BBVA Chairman Carlos Torres shrugged off concerns that further exposure to Turkey could be a drag on his bank given the macroeconomic situation.
“We know the asset well, we’ve run it for a decade, we’ve seen how in crisis situations it operates and generates euro returns,” he said, adding that Garanti’s return on capital is “very attractive.”
...
=> TRY12.2 = ~USD1.22
<das reicht für meine Position aus 2018 nicht [Kosten ~USD1.46]. Aber der Deal wird mMn so kommen>
BBVA Boosts Bet on Turkey in $2.6 Billion Bid for Garanti
https://finance.yahoo.com/news/bbva-seeks-control-turkey-gar…
...
Banco Bilbao Vizcaya Argentaria SA is seeking full control of its Turkish unit in a deal valued at as much as 25.7 billion liras ($2.56 billion), increasing its bet on the country amid a slump in the nation’s currency.
The Spanish lender will offer 12.20 liras per share for the 50.15% it doesn’t own in Turkiye Garanti Bankasi AS, according to a statement from the bank on Monday. That represents a premium of about 15% over Garanti’s closing price on Nov. 12.
BBVA first bought a stake in Garanti about a decade ago and then boosted its position to just under 50% in 2017. Turkey is currently the third-largest market for BBVA in terms of profit contribution and executives have repeatedly defended their focus on the emerging market, even amid increasingly unorthodox monetary policy that’s pushing the lira to record lows.
BBVA Chairman Carlos Torres shrugged off concerns that further exposure to Turkey could be a drag on his bank given the macroeconomic situation.
“We know the asset well, we’ve run it for a decade, we’ve seen how in crisis situations it operates and generates euro returns,” he said, adding that Garanti’s return on capital is “very attractive.”
...
=> TRY12.2 = ~USD1.22
<das reicht für meine Position aus 2018 nicht [Kosten ~USD1.46]. Aber der Deal wird mMn so kommen>
Antwort auf Beitrag Nr.: 67.566.867 von faultcode am 23.03.21 14:18:10so gesehen ist die Türkei spätestens nun bankrott:
Antwort auf Beitrag Nr.: 66.147.211 von faultcode am 21.12.20 13:54:4723.3.
All Hell Breaks Loose In Turkey: Stocks Halted, Overnight Lira Implied Rate Hits 10,000%
https://www.zerohedge.com/markets/all-hell-breaks-loose-turk…
...
...
All Hell Breaks Loose In Turkey: Stocks Halted, Overnight Lira Implied Rate Hits 10,000%
https://www.zerohedge.com/markets/all-hell-breaks-loose-turk…
...
...
21.12.
Top Turkish Equity Fund Bets on Banks to Be Among 2021 Stars
https://ca.finance.yahoo.com/news/top-turkish-equity-fund-be…
...
Turkey’s top-performing equity fund is buying banks and other large industrial companies, anticipating that they will benefit the most from an economic upswing in 2021.
This shift is happening at the cost of the smaller companies so beloved by Turkey’s legion of mom and pop investors and which have helped Tacirler Portfoy’s $80 million equity intensive fund outpace its peers, said General Manager Okan Alpay. The fund has gained 102% in 2020 as of Dec. 18, the most among those focused on domestic stocks, according to the national fund distribution platform, known as Tefas.
Valuations of Turkish lenders have become “meaningfully” cheap compared with regional peers and the broader local market, Alpay said in an interview in Istanbul. The overhaul of the country’s economic management and a return to more conventional central-bank policy, could trigger gains next year, he said.
Until early November, the shares of Turkey’s biggest companies, including its banks, bore the brunt of a foreign selloff as the lira tumbled in the face of investor concerns about monetary policies that prioritized economic growth above all else. That began to change as President Recep Tayyip Erdogan signaled his support for an investor-friendly approach to running the economy.
The replacement of Turkey’s treasury and finance minister and its central bank head have spurred gains. In the past six weeks, the Borsa Istanbul Banks Index is up 23%, while the Borsa Istanbul 30 Index of the most-widely owned and largest companies has gained 17%. That compares with the 7% rise in the MSCI Emerging Markets Index. If the commitment to orthodox policy proves sustained, banks could find a place among the longer-term holdings in the fund, Alpay said.
Tacirler has started to invest in stocks worst-hit by the pandemic, including airlines and tourism on bets that Covid-19 headlines will start to wane.
Turkish stocks have the potential to gain more than 100% in dollar terms over “a few years” as the country’s revised economic policy combines with increased flows toward emerging markets, said Semih Kara, Tacirler Portfoy’s chief portfolio manager. Tacirler has been speaking to potential foreign equity investors, and “there is a good level of interest from them,” he said.
Foreign Investors
That suggestion is backed by some overseas money managers. “Turkish stocks possess the rare combination of high growth prospects and attractive current valuations,” said Change Global Investment Managing Director Thea Jamison, in Camas, Washington. “As long as the authorities stay within their lane, we believe investors will be well rewarded to take on Turkish risk.”
Bank Julius Baer closed most of their short recommendations in Turkish assets in mid-November, said Mathieu Racheter, the bank’s head of equity strategy. “Despite the recent rally, we still see value in Turkish banks stocks relative to other EM banks stocks,” he said.
Top Turkish Equity Fund Bets on Banks to Be Among 2021 Stars
https://ca.finance.yahoo.com/news/top-turkish-equity-fund-be…
...
Turkey’s top-performing equity fund is buying banks and other large industrial companies, anticipating that they will benefit the most from an economic upswing in 2021.
This shift is happening at the cost of the smaller companies so beloved by Turkey’s legion of mom and pop investors and which have helped Tacirler Portfoy’s $80 million equity intensive fund outpace its peers, said General Manager Okan Alpay. The fund has gained 102% in 2020 as of Dec. 18, the most among those focused on domestic stocks, according to the national fund distribution platform, known as Tefas.
Valuations of Turkish lenders have become “meaningfully” cheap compared with regional peers and the broader local market, Alpay said in an interview in Istanbul. The overhaul of the country’s economic management and a return to more conventional central-bank policy, could trigger gains next year, he said.
Until early November, the shares of Turkey’s biggest companies, including its banks, bore the brunt of a foreign selloff as the lira tumbled in the face of investor concerns about monetary policies that prioritized economic growth above all else. That began to change as President Recep Tayyip Erdogan signaled his support for an investor-friendly approach to running the economy.
The replacement of Turkey’s treasury and finance minister and its central bank head have spurred gains. In the past six weeks, the Borsa Istanbul Banks Index is up 23%, while the Borsa Istanbul 30 Index of the most-widely owned and largest companies has gained 17%. That compares with the 7% rise in the MSCI Emerging Markets Index. If the commitment to orthodox policy proves sustained, banks could find a place among the longer-term holdings in the fund, Alpay said.
Tacirler has started to invest in stocks worst-hit by the pandemic, including airlines and tourism on bets that Covid-19 headlines will start to wane.
Turkish stocks have the potential to gain more than 100% in dollar terms over “a few years” as the country’s revised economic policy combines with increased flows toward emerging markets, said Semih Kara, Tacirler Portfoy’s chief portfolio manager. Tacirler has been speaking to potential foreign equity investors, and “there is a good level of interest from them,” he said.
Foreign Investors
That suggestion is backed by some overseas money managers. “Turkish stocks possess the rare combination of high growth prospects and attractive current valuations,” said Change Global Investment Managing Director Thea Jamison, in Camas, Washington. “As long as the authorities stay within their lane, we believe investors will be well rewarded to take on Turkish risk.”
Bank Julius Baer closed most of their short recommendations in Turkish assets in mid-November, said Mathieu Racheter, the bank’s head of equity strategy. “Despite the recent rally, we still see value in Turkish banks stocks relative to other EM banks stocks,” he said.
Antwort auf Beitrag Nr.: 65.768.961 von faultcode am 19.11.20 14:33:58
Antwort auf Beitrag Nr.: 64.777.861 von faultcode am 16.08.20 13:43:0919.11.
Türkische Notenbank forciert Kampf gegen Lira-Verfall
Nach dem Wachwechsel an der Spitze hat die türkische Notenbank den Kampf gegen die Inflation mit einer kräftigen Zinserhöhung forciert. Der Erhöhung ging offenbar ein Sinneswandel bei Staatschef Erdogan voraus.
https://www.manager-magazin.de/finanzen/tuerkische-lira-note…
...
Die Notenbank hob den geldpolitischen Schlüsselsatz am Donnerstag auf 15,0 von bislang 10,25 Prozent an. Sie gelobte zugleich, entschlossen am Straffungskurs festzuhalten, um die Inflation in Schach zu halten.
...
ADR: TKGBY
Türkische Notenbank forciert Kampf gegen Lira-Verfall
Nach dem Wachwechsel an der Spitze hat die türkische Notenbank den Kampf gegen die Inflation mit einer kräftigen Zinserhöhung forciert. Der Erhöhung ging offenbar ein Sinneswandel bei Staatschef Erdogan voraus.
https://www.manager-magazin.de/finanzen/tuerkische-lira-note…
...
Die Notenbank hob den geldpolitischen Schlüsselsatz am Donnerstag auf 15,0 von bislang 10,25 Prozent an. Sie gelobte zugleich, entschlossen am Straffungskurs festzuhalten, um die Inflation in Schach zu halten.
...
ADR: TKGBY
Antwort auf Beitrag Nr.: 64.777.852 von faultcode am 16.08.20 13:41:12
<NASDAQ OTC>
Einfaches Einfügen von wallstreetONLINE Charts: So funktionierts.
<NASDAQ OTC>
15.8.
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank
https://wolfstreet.com/2020/08/15/as-turkeys-2nd-financial-c…
...
Subordinate bonds of Turkiye Garanti Bankasi AS, which is majority owned by Spanish lender BBVA, together with two other local banks — Turkiye Is Bankasi AS and Akbank TAS — are trading at distressed levels (yields of over 10 percentage points above U.S. Treasuries), even though the banks are still profitable and said to be highly capitalized.
This is an indication of the amount of confidence investors have in the ability of these companies to repay their obligations.
...
Of all non-Turkish lenders Spanish and French banks continue to have the most loans outstanding to Turkey, according to the Bank for International Settlements. Banks in Spain, France, Italy and the UK have an estimated combined exposure of around €118 billion. Spanish lenders (read: BBVA) account for just over half of that (€61 billion) while French (read: BNP Paribas), Italian (read: Unicredit) and British (read: HSBC) banks are respectively due €24 billion, €21 billion and €11 billion.
...
These lenders were drawn to Turkey by the country’s record of high-octane, debt-fueled economic growth and its much more favorable demographics than the ageing populations of Western Europe. For a fair while, the bet paid off. Erdogan’s economic miracle, fueled largely by a huge foreign-currency-denominated debt bubble, provided over a decade of juicy lending opportunities and bumper profits for the banks. Then, when the miracle faltered, the bubble went pop, and things went to heck.
...
Conditions have changed in the past three weeks. The lira has sunk to a new low and financing pressures are rising. Once the moratoriums on loan payments and interest come to an end, which one day they must, those pressures will soar as defaults surge. Yet despite that, BBVA believes that Turkey’s economy — and with it, Garanti — will ride out this latest storm reasonably unscathed.
...
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank
https://wolfstreet.com/2020/08/15/as-turkeys-2nd-financial-c…
...
Subordinate bonds of Turkiye Garanti Bankasi AS, which is majority owned by Spanish lender BBVA, together with two other local banks — Turkiye Is Bankasi AS and Akbank TAS — are trading at distressed levels (yields of over 10 percentage points above U.S. Treasuries), even though the banks are still profitable and said to be highly capitalized.
This is an indication of the amount of confidence investors have in the ability of these companies to repay their obligations.
...
Of all non-Turkish lenders Spanish and French banks continue to have the most loans outstanding to Turkey, according to the Bank for International Settlements. Banks in Spain, France, Italy and the UK have an estimated combined exposure of around €118 billion. Spanish lenders (read: BBVA) account for just over half of that (€61 billion) while French (read: BNP Paribas), Italian (read: Unicredit) and British (read: HSBC) banks are respectively due €24 billion, €21 billion and €11 billion.
...
These lenders were drawn to Turkey by the country’s record of high-octane, debt-fueled economic growth and its much more favorable demographics than the ageing populations of Western Europe. For a fair while, the bet paid off. Erdogan’s economic miracle, fueled largely by a huge foreign-currency-denominated debt bubble, provided over a decade of juicy lending opportunities and bumper profits for the banks. Then, when the miracle faltered, the bubble went pop, and things went to heck.
...
Conditions have changed in the past three weeks. The lira has sunk to a new low and financing pressures are rising. Once the moratoriums on loan payments and interest come to an end, which one day they must, those pressures will soar as defaults surge. Yet despite that, BBVA believes that Turkey’s economy — and with it, Garanti — will ride out this latest storm reasonably unscathed.
...
<sehr lang>
10.8.
Why global investors can’t ignore Turkey’s latest currency woes
https://www.marketwatch.com/story/why-global-investors-cant-…
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Turkey’s lenders should pay attention, they said, noting that the country’s banks and corporates have to roll over $100 billion in debt in the next 12 months, with net external liabilities amounting to around $76 billion and accompanied by “significant currency mismatches” among borrowers.
As an example, they note that, according to data from the Bank for International Settlements, Turkish banks have $29 billion of dollar-denominated liabilities versus just $18 billion of dollar assets. They also have a shortfall of more than $4.6 billion between euro-denominated assets and liabilities. It’s worse for the nonbank sector, where borrowers have €19 billion in liabilities and just €3.6 billion in assets.
...
10.8.
Why global investors can’t ignore Turkey’s latest currency woes
https://www.marketwatch.com/story/why-global-investors-cant-…
...
Turkey’s lenders should pay attention, they said, noting that the country’s banks and corporates have to roll over $100 billion in debt in the next 12 months, with net external liabilities amounting to around $76 billion and accompanied by “significant currency mismatches” among borrowers.
As an example, they note that, according to data from the Bank for International Settlements, Turkish banks have $29 billion of dollar-denominated liabilities versus just $18 billion of dollar assets. They also have a shortfall of more than $4.6 billion between euro-denominated assets and liabilities. It’s worse for the nonbank sector, where borrowers have €19 billion in liabilities and just €3.6 billion in assets.
...
Antwort auf Beitrag Nr.: 62.701.444 von faultcode am 17.02.20 13:07:11Hier habe ich noch eine Bank:
Bank Audi S.A.L. WKN: A1107B
Der Kurs sieht fürchterlich aus, aber nach der Staatspleite von Libanon ist das kein Wunder.
Bank Audi S.A.L. WKN: A1107B
Der Kurs sieht fürchterlich aus, aber nach der Staatspleite von Libanon ist das kein Wunder.
betrifft eine andere Bank; ich stelle das aber trotzdem hier mal rein:
17.2.
Why Erdogan Aims to Seize Stake in No. 2 Turkish Bank: QuickTake
https://www.bloomberg.com/news/articles/2020-02-17/why-erdog…
Turkish President Recep Tayyip Erdogan has already brought the central bank under his control, ousting the governor and installing a successor to drive interest rates lower and try to turbo-charge economic growth. Now he’s making a play for the country’s biggest private lender, Turkiye Is Bankasi AS, as he pushes to unleash credit in the economy. The problem? Isbank is part-owned by the main opposition party, not that that’s likely to get in the Turkish leader’s way.
...
--> wobei man sagen muss, daß diese Auseinandersetzung (also um diese Bank) schon seit mindestens 2 Jahren anhält
17.2.
Why Erdogan Aims to Seize Stake in No. 2 Turkish Bank: QuickTake
https://www.bloomberg.com/news/articles/2020-02-17/why-erdog…
Turkish President Recep Tayyip Erdogan has already brought the central bank under his control, ousting the governor and installing a successor to drive interest rates lower and try to turbo-charge economic growth. Now he’s making a play for the country’s biggest private lender, Turkiye Is Bankasi AS, as he pushes to unleash credit in the economy. The problem? Isbank is part-owned by the main opposition party, not that that’s likely to get in the Turkish leader’s way.
...
--> wobei man sagen muss, daß diese Auseinandersetzung (also um diese Bank) schon seit mindestens 2 Jahren anhält
Antwort auf Beitrag Nr.: 61.468.979 von faultcode am 12.09.19 14:56:57
https://www.finanzen.net/nachricht/aktien/tuerkei-inflation-…
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...In der Türkei ist die Inflation erstmals seit gut zwei Jahren wieder in den einstelligen Bereich gefallen. Die Lebenshaltungskosten erhöhten sich im September gegenüber dem Vorjahresmonat um 9,3 Prozent, wie das nationale Statistikamt am Donnerstag in Ankara mitteilte. Es ist das erste Mal seit Mitte 2017, dass die Inflationsrate nicht mehr zweistellig ist. Analysten hatten mit dieser Entwicklung der Tendenz nach gerechnet, allerdings im Mittel eine etwas höhere Rate erwartet.
Ein wichtiger Grund für den deutlichen Rückgang der Inflation liegt in dem starken Preissprung im vergangenen Jahr, der zunehmend aus dem Jahresvergleich herausfällt. 2018 hatte die türkische Währung Lira massiv an Wert verloren, es war die Rede von einer Lirakrise. Die schwache Lira hatte die Inlandspreise im Zuge höherer Einfuhrpreise stark nach oben getrieben. Der Höhepunkt wurde vergangenes Jahr mit einer Inflation von gut 25 Prozent erreicht.
Gedrückt wird die Inflationsrate darüber hinaus durch die Lira an sich, deren Wert sich in den vergangenen Monaten stabilisiert hat. Ein wesentlicher Grund dafür ist die lockerere Geldpolitik der amerikanischen Notenbank Fed, die Druck von Schwellenländerwährungen nimmt. Hinzu kommt die ebenfalls stabilere Konjunkturlage in der Türkei.
Fachleute verweisen jedoch auf die Geldpolitik der türkischen Notenbank als Risiko für die weitere Inflationsentwicklung. Die Notenbank hat die Leitzinsen zuletzt deutlich reduziert. Staatspräsident Recep Tayyip Erdogan hatte vor einigen Monaten den Notenbankchef ausgetauscht. Seither gilt die Geldpolitik der türkischen Zentralbank als stark von der Politik beeinflusst...
Türkei: Inflation erstmals seit langem wieder einstellig
3.10.https://www.finanzen.net/nachricht/aktien/tuerkei-inflation-…
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...In der Türkei ist die Inflation erstmals seit gut zwei Jahren wieder in den einstelligen Bereich gefallen. Die Lebenshaltungskosten erhöhten sich im September gegenüber dem Vorjahresmonat um 9,3 Prozent, wie das nationale Statistikamt am Donnerstag in Ankara mitteilte. Es ist das erste Mal seit Mitte 2017, dass die Inflationsrate nicht mehr zweistellig ist. Analysten hatten mit dieser Entwicklung der Tendenz nach gerechnet, allerdings im Mittel eine etwas höhere Rate erwartet.
Ein wichtiger Grund für den deutlichen Rückgang der Inflation liegt in dem starken Preissprung im vergangenen Jahr, der zunehmend aus dem Jahresvergleich herausfällt. 2018 hatte die türkische Währung Lira massiv an Wert verloren, es war die Rede von einer Lirakrise. Die schwache Lira hatte die Inlandspreise im Zuge höherer Einfuhrpreise stark nach oben getrieben. Der Höhepunkt wurde vergangenes Jahr mit einer Inflation von gut 25 Prozent erreicht.
Gedrückt wird die Inflationsrate darüber hinaus durch die Lira an sich, deren Wert sich in den vergangenen Monaten stabilisiert hat. Ein wesentlicher Grund dafür ist die lockerere Geldpolitik der amerikanischen Notenbank Fed, die Druck von Schwellenländerwährungen nimmt. Hinzu kommt die ebenfalls stabilere Konjunkturlage in der Türkei.
Fachleute verweisen jedoch auf die Geldpolitik der türkischen Notenbank als Risiko für die weitere Inflationsentwicklung. Die Notenbank hat die Leitzinsen zuletzt deutlich reduziert. Staatspräsident Recep Tayyip Erdogan hatte vor einigen Monaten den Notenbankchef ausgetauscht. Seither gilt die Geldpolitik der türkischen Zentralbank als stark von der Politik beeinflusst...
Türkische Notenbank senkt Leitzins erneut kräftig
12.9.https://www.finanzen.net/nachricht/zinsen/trotz-hoher-inflat…
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...Der Zins für einwöchiges Notenbankgeld sei von 19,75 Prozent auf 16,50 Prozent reduziert worden, teilte die Zentralbank am Donnerstag in Ankara mit. Bereits Ende Juli hatte die Notenbank eine starke Zinssenkung um 4,25 Prozentpunkte vorgenommen.
Experten hatten einen weiteren starken Zinsschritt erwartet. Sie waren aber nur von einer Reduzierung auf 17,00 Prozent ausgegangen. Obwohl die Senkung stärker als von Ökonomen erwartet ausgefallen war, konnte der Kurs der türkischen Lira nach der Zinsentscheidung zulegen.
Marktbeobachter gehen davon aus, dass einige Anleger einen noch stärkeren Zinsschritt befürchtet hatten.
Der türkische Staatspräsident Recep Tayyip Erdogan hatte Anfang Juli unter Protest von Opposition und Wirtschaftsexperten den Chef der Zentralbank gefeuert. Murat Cetinkaya, der den Posten seit April 2016 innehatte, wurde durch seinen bisherigen Stellvertreter Murat Uysal ersetzt.
Erdogan hatte in den vergangenen Monaten immer wieder Zinssenkungen gefordert. Der Staatschef geht entgegen jeder Lehrbuchmeinung davon aus, dass Zinssenkungen die Inflation bekämpfen...
Antwort auf Beitrag Nr.: 61.230.723 von faultcode am 12.08.19 13:12:57
https://www.finanzen.net/nachricht/aktien/zinssenkung-voraus…
Die Verbraucherpreise liegen im Schnitt nur noch um 15,01 Prozent über dem Niveau des Vorjahresmonats, wie das Statistikamt am Dienstag in Ankara mitteilte. Das ist der niedrigste Stand seit Mai 2018. Im Juli lag die Teuerungsrate noch bei 16,65 Prozent. Auf dem Höhepunkt der Währungskrise im vergangenen Oktober hatte sie mit mehr als 25 Prozent den höchsten Wert seit 15 Jahren erreicht. Durch die schwache Lira verteuerten sich Importe deutlich, was die Kosten für die Lebenshaltung in die Höhe trieb.
Angesichts der nachlassenden Inflation steigt die Wahrscheinlichkeit, dass die Zentralbank ihren Leitzins in diesem Jahr weiter senken wird. Deren Chef Murat Uysal hatte dies von einer nachlassenden Teuerung abhängig gemacht. Bis Jahresende soll die Preissteigerungsrate nach Prognose der Notenbank auf 13,9 Prozent nachlassen, bis Ende 2020 auf 8,2 Prozent.
Der Leitzins liegt derzeit bei 19,75 Prozent. Die türkische Wirtschaft kann niedrigere Zinsen gebrauchen, droht sie doch nach Prognose der Regierung in diesem Jahr zu stagnieren. Billigeres Geld kann Investitionen und Konsum anregen. Der Aufschwung endete im vergangenen Jahr durch die Währungskrise, die durch den diplomatischen Streit mit den USA und Zweifeln an der Unabhängigkeit der Zentralbank ausgelöst wurde. Dadurch verlor die Landeswährung Lira 2018 fast ein Drittel ihres Wertes.
Inflationsrate in Türkei auf niedrigstem Stand seit über einem Jahr
3.9.https://www.finanzen.net/nachricht/aktien/zinssenkung-voraus…
Die Verbraucherpreise liegen im Schnitt nur noch um 15,01 Prozent über dem Niveau des Vorjahresmonats, wie das Statistikamt am Dienstag in Ankara mitteilte. Das ist der niedrigste Stand seit Mai 2018. Im Juli lag die Teuerungsrate noch bei 16,65 Prozent. Auf dem Höhepunkt der Währungskrise im vergangenen Oktober hatte sie mit mehr als 25 Prozent den höchsten Wert seit 15 Jahren erreicht. Durch die schwache Lira verteuerten sich Importe deutlich, was die Kosten für die Lebenshaltung in die Höhe trieb.
Angesichts der nachlassenden Inflation steigt die Wahrscheinlichkeit, dass die Zentralbank ihren Leitzins in diesem Jahr weiter senken wird. Deren Chef Murat Uysal hatte dies von einer nachlassenden Teuerung abhängig gemacht. Bis Jahresende soll die Preissteigerungsrate nach Prognose der Notenbank auf 13,9 Prozent nachlassen, bis Ende 2020 auf 8,2 Prozent.
Der Leitzins liegt derzeit bei 19,75 Prozent. Die türkische Wirtschaft kann niedrigere Zinsen gebrauchen, droht sie doch nach Prognose der Regierung in diesem Jahr zu stagnieren. Billigeres Geld kann Investitionen und Konsum anregen. Der Aufschwung endete im vergangenen Jahr durch die Währungskrise, die durch den diplomatischen Streit mit den USA und Zweifeln an der Unabhängigkeit der Zentralbank ausgelöst wurde. Dadurch verlor die Landeswährung Lira 2018 fast ein Drittel ihres Wertes.
Turkey Got a $1 Billion Foreign Cash Boost From China in June
9.8.https://nz.finance.yahoo.com/news/turkey-got-1-billion-china…
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...China’s central bank transferred $1 billion worth of funds to Turkey in June, Beijing’s biggest support package ever for President Recep Tayyip Erdogan delivered at a critical time in an election month.
The inflow marks the first time Turkey received such a substantial amount under the lira-yuan swap agreement with Beijing that dates back to 2012, according to a person with direct knowledge of the matter who asked not to be named because the information isn’t public.
The cash infusion boosted Turkey’s foreign reserves around the time of Istanbul local elections that had left international investors fretting about the country’s political and financial stability.
While it marks a success in Erdogan’s effort to re-align Turkey’s international relations by forging new partnerships with the likes of Russia and China, those ties aren’t a match for traditional allies in the West it risks further alienating, said Ozgur Unluhisarcikli, Turkish head of the German Marshall Fund of the United States.
“Such short term sources of financing can’t be a remedy for Turkey’s longer term needs,” Unluhisarcikli said by phone. “They are by no means a replacement for Turkey’s long-standing relations with the U.S. and the West.”
Still, the Chinese funds show Turkey is making headway in its efforts to diversify sources of foreign investment amid unprecedented tensions with the West. Treasury and Finance Minister Berat Albayrak has said the Asian economy is a promising partner from which Turkey needs to attract investment.
Turkey and China signed the currency-swap deal seven years ago and have renewed it every three years. However, until Friday’s balance of payments data release, there was hardly ever a transfer from China under the swap deal that made a significant contribution to Turkish holdings.
The cash transfer “represents a step up in the central bank’s efforts to bolster reserves via swaps,” said Inan Demir, an economist at Nomura International Plc in London. “Although the increase in reserves is ultimately positive, the market would have preferred more transparent methods of reserve build up.”
Turkey has been trying to sign similar agreements with other partners, and inked a deal with Qatar last year that dwarfed similar attempts. The agreement with Qatar at the height of a currency rout provided $3 billion in inflows from the Gulf state.
The Turkish central bank declined to comment. The People’s Bank of China wasn’t immediately available for comment outside normal business hours on Friday...
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