Page 7 - TURKRptSept19

Akbank’s net income declined by 20% y/y in Q2.
Yapi Kredi Bank’s net profit declined by 9% y/y in Q2.
Koc Holding confirms talks after report partner Unicredit is sizing up possible sale of Yapi Kredi Bank stake.
Vakifbank’s net income declined by 44% y/y to TRY368mn in Q2.
State-run Halkbank’s net profit declined by 72% y/y to TRY310mn in Q2.
Turkish insurer HDI Sigorta buys local rival Ergo Sigorta.
Turkey’s Eti Krom hires JPMorgan to sell $250mn sukuk.
Borsa Istanbul’s benchmark BIST-100 nosedived to the 95,000-96,000s from the 102,000-103,000s at the end of July.
Borsa Istanbul-listed companies’ Q2 financial statement releases completed.
Turkey’s leading low-cost carrier Pegasus flying high. As of August 19, Pegasus shares were up 173% y/y while Turkish Airlines shares were down 26% y/y.
Turkish Airlines’ net income declined by 70% y/y to TRY133mn in Q2 despite a tax revenue of TRY342mn.
Turkish Airlines passenger decline ugly symptom of consumer crunch in Turkey.
BlackRock’s stake in Turkish Airlines has declined to 4.96% from 5.24%.
Largest Turkish retailer BIM posts 18% y/y profit growth in Q2
Migros’ net loss declined by 49% y/y in Q2.
Coca Cola Icecek’s net profit jumped to TRY411mn in Q2 from TRY185mn a year ago.
Breewer Anadolu Efes’ net profit jumped to TRY430mn in Q2 from TRY43mn a year ago.
Tupras reports 15% y/y decline in Q2 profit.
Petkim’s net income declined by 14% y/y in Q2.
Aygaz’s net income declined by 19% y/y in Q2.
Ford Otosan’s net income declined by 16% y/y in Q2.
Tofas increased its net income by 11% y/y in Q2.
Turkcell increased its net income by 12% y/y in Q2. Turkcell, China Development Bank agree new rates on loan.
Turk Telekom has posted TRY435mn net profit in Q2 versus a net loss of TRY870mn in Q2 2018.
Enerjisa’ net income for the second quarter declined by 37% y/y. Erdemir’s net profit declined by 14% y/y in Q2.
Kardemir’s net profit declined by 50% y/y in Q2.
7 TURKEY Country Report September 2019 www.intellinews.com