Halkbank: Not A Good Play for the Current Trends
Halkbank has performed poorly since last November and now the stock trades slightly below its book value and is one of the worst performing stocks among Turkish blue-chip stocks.
The bank closed 2011 with 14.4% return on equity and an aggregate net income of 2,206 million liras, which was 22% lower compared to the posted number a year earlier. Net interest margin stood at 4.2% at yearend thanks to solid fourth quarter margin of 4.5%. The...
What Fee Restriction Would Mean for the Stocks
Huseyin Aydin, head of the Turkish Banks’ Association, said that he expects the regulator to publish new rules that limit fees and commission charged by the banks (read the Bloomberg story here). This has been longstanding topic in the industry and eventually it will be likely made come true by the regulator.
This will also have an impact on industry, especially on banks capitalized by non-state investors. Additionally, we will probably see a switch by many analysts...