Loading...

Turkiye Garanti Bankasi

LSE:TGBD
Snowflake Description

Very undervalued with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TGBD
LSE
TRY36B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Turkiye Garanti Bankasi A.S. provides various banking products and services. The last earnings update was 83 days ago. More info.


Add to Portfolio Compare Print
  • Turkiye Garanti Bankasi has significant price volatility in the past 3 months.
TGBD Share Price and Events
7 Day Returns
0%
LSE:TGBD
0%
GB Banks
1.5%
GB Market
1 Year Returns
-48.6%
LSE:TGBD
-9.9%
GB Banks
2.1%
GB Market
TGBD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Turkiye Garanti Bankasi (TGBD) 0% 0% 42.9% -48.6% -45.7% -40%
GB Banks 0% 7.6% 6.2% -9.9% 15.3% -12.2%
GB Market 1.5% 5.2% 9.7% 2.1% 17.8% 6.8%
1 Year Return vs Industry and Market
  • TGBD underperformed the Banks industry which returned -9.9% over the past year.
  • TGBD underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.1% over the past year.
Price Volatility
TGBD
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Turkiye Garanti Bankasi's competitors could be found in our database.

Value

 Is Turkiye Garanti Bankasi undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Turkiye Garanti Bankasi to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Turkiye Garanti Bankasi.

LSE:TGBD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= TRY14.22 * 15.2%
TRY2.16
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. TRY14.22
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:TGBD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 22%) (234.14%))
1.457
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.46
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.457 * 5.96%)
9.91%

Discounted Cash Flow Calculation for LSE:TGBD using Excess Returns Model Model

The calculations below outline how an intrinsic value for Turkiye Garanti Bankasi is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:TGBD Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (15.2% – 9.91%) * TRY14.22)
TRY0.75
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= TRY0.75 / (9.91% - 1.23%)
TRY8.63
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= TRY14.22 + TRY8.63
TRY22.85
LSE:TGBD Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:TGBD represents 0.21152x of IBSE:GARAN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.21152x
Value per Share
(Listing Adjusted, USD)
= Value per Share (TRY) x Listing Adjustment Factor
= TRY 22.85 x 0.21152
$4.83
Value per share (USD) From above. $4.83
Current discount Discount to share price of $1.80
= -1 x ($1.80 - $4.83) / $4.83
62.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Turkiye Garanti Bankasi is available for.
Intrinsic value
>50%
Share price is $1.8 vs Future cash flow value of $4.83
Current Discount Checks
For Turkiye Garanti Bankasi to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Turkiye Garanti Bankasi's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Turkiye Garanti Bankasi's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Turkiye Garanti Bankasi's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Turkiye Garanti Bankasi's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:TGBD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in TRY TRY1.58
IBSE:GARAN Share Price ** IBSE (2019-04-23) in TRY TRY8.51
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.28x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Turkiye Garanti Bankasi.

LSE:TGBD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= IBSE:GARAN Share Price ÷ EPS (both in TRY)

= 8.51 ÷ 1.58

5.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Turkiye Garanti Bankasi is good value based on earnings compared to the GB Banks industry average.
  • Turkiye Garanti Bankasi is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Turkiye Garanti Bankasi's expected growth come at a high price?
Raw Data
LSE:TGBD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
23.9%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.85x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

LSE:TGBD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.38x ÷ 23.9%

0.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Turkiye Garanti Bankasi is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Turkiye Garanti Bankasi's assets?
Raw Data
LSE:TGBD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in TRY TRY11.12
IBSE:GARAN Share Price * IBSE (2019-04-23) in TRY TRY8.51
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.52x
LSE:TGBD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= IBSE:GARAN Share Price ÷ Book Value per Share (both in TRY)

= 8.51 ÷ 11.12

0.77x

* Primary Listing of Turkiye Garanti Bankasi.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Turkiye Garanti Bankasi is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Turkiye Garanti Bankasi's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Turkiye Garanti Bankasi has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Turkiye Garanti Bankasi expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
23.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Turkiye Garanti Bankasi expected to grow at an attractive rate?
  • Turkiye Garanti Bankasi's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Turkiye Garanti Bankasi's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Turkiye Garanti Bankasi's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:TGBD Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:TGBD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 23.9%
LSE:TGBD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 15.5%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:TGBD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in TRY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:TGBD Future Estimates Data
Date (Data in TRY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 31,663 13,231 4
2020-12-31 29,078 9,291 5
2019-12-31 26,176 6,145 5
LSE:TGBD Past Financials Data
Date (Data in TRY Millions) Revenue Cash Flow Net Income *
2018-12-31 17,516 -28,017 6,642
2018-09-30 17,467 -81,838 6,907
2018-06-30 17,364 -48,168 7,160
2018-03-31 16,534 -39,101 6,803
2017-12-31 15,961 -26,733 6,332
2017-09-30 16,306 -26,201 6,220
2017-06-30 14,687 -23,263 5,596
2017-03-31 14,496 -26,744 5,595
2016-12-31 13,518 -20,237 5,105
2016-09-30 12,853 -6,398 4,856
2016-06-30 12,102 -20,889 4,162
2016-03-31 11,471 -9,977 3,751

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Turkiye Garanti Bankasi's earnings are expected to grow significantly at over 20% yearly.
  • Turkiye Garanti Bankasi's revenue is expected to grow by 15.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:TGBD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Turkiye Garanti Bankasi Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:TGBD Future Estimates Data
Date (Data in TRY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.65 2.88 2.36 6.00
2020-12-31 2.19 2.50 1.91 8.00
2019-12-31 1.43 1.53 1.30 6.00
LSE:TGBD Past Financials Data
Date (Data in TRY Millions) EPS *
2018-12-31 1.58
2018-09-30 1.64
2018-06-30 1.70
2018-03-31 1.62
2017-12-31 1.51
2017-09-30 1.48
2017-06-30 1.33
2017-03-31 1.33
2016-12-31 1.22
2016-09-30 1.16
2016-06-30 0.99
2016-03-31 0.89

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Turkiye Garanti Bankasi is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Turkiye Garanti Bankasi's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Turkiye Garanti Bankasi has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Turkiye Garanti Bankasi performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Turkiye Garanti Bankasi's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Turkiye Garanti Bankasi's year on year earnings growth rate has been positive over the past 5 years.
  • Turkiye Garanti Bankasi's 1-year earnings growth is less than its 5-year average (4.9% vs 19.1%)
  • Turkiye Garanti Bankasi's earnings growth has not exceeded the GB Banks industry average in the past year (4.9% vs 42.2%).
Earnings and Revenue History
Turkiye Garanti Bankasi's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Turkiye Garanti Bankasi Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:TGBD Past Revenue, Cash Flow and Net Income Data
Date (Data in TRY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 17,515.62 6,641.65 4,405.35
2018-09-30 17,467.03 6,907.12 4,634.78
2018-06-30 17,363.82 7,160.30 6,014.47
2018-03-31 16,533.99 6,802.86 4,333.81
2017-12-31 15,960.82 6,332.06 672.23
2017-09-30 16,306.05 6,219.86 4,308.49
2017-06-30 14,687.47 5,595.81 1,539.43
2017-03-31 14,496.05 5,594.80 3,083.75
2016-12-31 13,518.39 5,105.29 3,865.68
2016-09-30 12,852.62 4,855.60 3,759.49
2016-06-30 12,101.60 4,161.95 4,644.79
2016-03-31 11,471.44 3,750.77 3,673.94
2015-12-31 11,235.73 3,580.90 3,422.59
2015-09-30 10,835.49 3,442.56 3,268.22
2015-06-30 10,900.13 3,795.06 2,382.92
2015-03-31 10,504.13 3,635.47 4,595.22
2014-12-31 10,154.04 3,647.40 2,982.36
2014-09-30 9,432.64 3,161.54 2,818.40
2014-06-30 8,907.91 2,904.35 3,518.05
2014-03-31 8,814.59 3,013.56 1,975.48
2013-12-31 9,162.20 3,314.43 2,630.74
2013-09-30 9,470.21 3,715.67 4,416.79
2013-06-30 9,438.24 3,829.39 2,591.01
2013-03-31 8,995.17 3,567.52 1,921.28
2012-12-31 8,355.44 3,331.07 2,392.15
2012-09-30 8,785.86 3,521.68 882.20
2012-06-30 8,409.70 3,254.71 2,663.97

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Turkiye Garanti Bankasi has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Turkiye Garanti Bankasi used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Turkiye Garanti Bankasi improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Turkiye Garanti Bankasi's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Turkiye Garanti Bankasi has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Turkiye Garanti Bankasi's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Turkiye Garanti Bankasi's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Turkiye Garanti Bankasi Company Filings, last reported 3 months ago.

LSE:TGBD Past Debt and Equity Data
Date (Data in TRY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 46,886.84 83,685.19 77,536.66
2018-09-30 46,559.98 113,329.74 90,029.18
2018-06-30 44,404.99 92,837.16 51,506.19
2018-03-31 42,711.32 74,767.57 26,103.69
2017-12-31 41,606.00 92,484.15 10,903.28
2017-09-30 39,825.00 84,678.19 11,591.37
2017-06-30 38,278.18 84,395.52 13,663.11
2017-03-31 37,273.73 87,645.00 20,924.42
2016-12-31 35,795.91 79,614.99 13,283.09
2016-09-30 34,724.89 74,733.89 9,434.00
2016-06-30 33,300.65 64,640.41 9,903.17
2016-03-31 31,875.59 74,122.46 30,884.89
2015-12-31 31,203.76 74,472.17 7,844.33
2015-09-30 28,294.86 74,943.91 15,778.17
2015-06-30 27,760.54 69,661.27 12,052.64
2015-03-31 28,132.86 70,254.93 14,451.20
2014-12-31 26,661.02 66,768.98 7,741.38
2014-09-30 26,322.91 69,190.59 9,755.44
2014-06-30 25,440.11 62,440.02 9,851.05
2014-03-31 24,382.60 62,908.74 9,802.08
2013-12-31 23,016.17 62,537.96 7,926.32
2013-09-30 22,578.00 52,807.00 25,421.00
2013-06-30 21,938.40 49,367.17 6,942.54
2013-03-31 22,584.97 45,535.39 4,607.65
2012-12-31 21,641.19 47,004.24 4,509.76
2012-09-30 20,881.41 40,941.51 11,155.51
2012-06-30 19,309.07 42,770.12 6,328.01
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Turkiye Garanti Bankasi has an acceptable proportion of non-loan assets held.
  • Turkiye Garanti Bankasi's liabilities are made up of primarily low risk sources of funding.
  • Loans at Turkiye Garanti Bankasi are broadly funded by customer deposits.
  • Turkiye Garanti Bankasi's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Turkiye Garanti Bankasi has a low allowance for bad loans.
  • Turkiye Garanti Bankasi has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Turkiye Garanti Bankasi's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Turkiye Garanti Bankasi has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Turkiye Garanti Bankasi's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.9%
Current annual income from Turkiye Garanti Bankasi dividends. Estimated to be 6.11% next year.
If you bought $2,000 of Turkiye Garanti Bankasi shares you are expected to receive $98 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Turkiye Garanti Bankasi's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • Turkiye Garanti Bankasi's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.14%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:TGBD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.1%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:TGBD Future Dividends Estimate Data
Date (Data in TRY) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.67 5.00
2020-12-31 0.56 7.00
2019-12-31 0.35 6.00
LSE:TGBD Past Annualized Dividends Data
Date (Data in TRY) Dividend per share (annual) Avg. Yield (%)
2018-03-02 0.417 5.112
2018-01-31 0.417 3.531
2017-04-24 0.298 2.929
2016-03-04 0.135 1.685
2015-02-03 0.135 1.712
2012-07-31 0.150 1.841
2011-05-03 0.150 2.261
2011-04-19 0.150 1.916
2011-02-10 0.150 2.009

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Turkiye Garanti Bankasi has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Turkiye Garanti Bankasi only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Turkiye Garanti Bankasi's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.9x coverage).
X
Income/ dividend checks
We assess Turkiye Garanti Bankasi's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Turkiye Garanti Bankasi afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Turkiye Garanti Bankasi has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Turkiye Garanti Bankasi's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ali Erbil
AGE 50
TENURE AS CEO 3.6 years
CEO Bio

Mr. Ali Fuat Erbil has been the President and Chief Executive Officer of Turkiye Garanti Bankasi A.S. since September 30, 2015. Mr. Erbil served as General Manager of Turkiye Garanti Bankasi A.S. He serves as Chairman at Garanti Faktoring A.S. He served as an Executive Vice President of Financial Institutions & Corporate Banking at Turkiye Garanti Bankasi A.S. from 2012 to September 30, 2015, Executive Vice President of Retail Banking and Distribution Channels from April 30, 2009 to February 2012 and also served as its Executive Vice President of Retail Banking & Channel Management since April 30, 1999. He served as the Head of Distribution Channels of Garanati Payment Systems since 1997. Mr. Erbil serves as Chairman of the Board at Garanti Bank S.A. and Garanti Emeklilik ve Hayat A.S. Mr. Erbil serves as a Director at Garanti Faktoring A.S. He has been a Director of Turkiye Garanti Bankasi A.S. since September 2, 2015. He serves as a board member of Garanti Payment Systems and Garanti Asset Management. Mr. Erbil graduated from the Computer Engineering Department of the Middle East Technical University, received his MBA from Bilkent University and his PhD in Banking and Finance from Istanbul Technical University.

CEO Compensation
  • Insufficient data for Ali to compare compensation growth.
  • Insufficient data for Ali to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Turkiye Garanti Bankasi management team in years:

3.5
Average Tenure
50
Average Age
  • The tenure for the Turkiye Garanti Bankasi management team is about average.
Management Team

Ali Erbil

TITLE
President
AGE
50
TENURE
3.6 yrs

Aydin Güler

TITLE
Executive Vice President of ALM
TENURE
3.3 yrs

Handan Saygin

TITLE
Senior Vice President of Investor Relations Department

Avni Düren

TITLE
Executive Vice President of Legal Services & Collection
AGE
50
TENURE
2.4 yrs

Emre Özbek

TITLE
Head of Compliance

Luis Francisco González

TITLE
Co-Director for Global Markets
TENURE
0.8 yrs

Osman Tüzün

TITLE
Executive Vice President of Human Resources & Support Services
TENURE
3.7 yrs

Ali Temel

TITLE
Executive VP & Chief Credit Risk Officer
AGE
50
TENURE
18.3 yrs

Metin Kiliç

TITLE
Senior Vice President of Assets & Liabilities Management

Fulya Göyenç

TITLE
Senior Vice President of Corporate Banking Coordination
Board of Directors Tenure

Average tenure and age of the Turkiye Garanti Bankasi board of directors in years:

4.1
Average Tenure
55
Average Age
  • The tenure for the Turkiye Garanti Bankasi board of directors is about average.
Board of Directors

Süleyman Sözen

TITLE
Chairman of the Board
AGE
72
TENURE
21.6 yrs

Ali Erbil

TITLE
President
AGE
50
TENURE
3.6 yrs

Jorge Azcunaga Carranza

TITLE
Vice Chairman of the Board
TENURE
1.6 yrs

Muammer Sezgin

TITLE
Director
AGE
57
TENURE
14.8 yrs

Sait Özen

TITLE
Director
AGE
58
TENURE
15.9 yrs

Belkis Yurdum

TITLE
Independent Director
TENURE
6 yrs

Jaime Saenz de Tejada Pulido

TITLE
Director
AGE
50
TENURE
4.5 yrs

Javier Dionis

TITLE
Director
TENURE
3.8 yrs

Rafael Martínez de Lecea

TITLE
Director
AGE
55
TENURE
1.9 yrs

Ricardo Barredo

TITLE
Independent Director
AGE
54
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Turkiye Garanti Bankasi's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Turkiye Garanti Bankasi has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Turkiye Garanti Bankasi A.S. provides various banking products and services. Its personal banking products and services include deposit and investment products comprising deposit accounts, mutual funds, T-bills/government bonds, Eurobonds, repos, equities, dual currency deposit transactions, Turkish derivatives exchange, e-trader, and taxation services; general purpose loans, auto loans, and overdraft accounts; various cards; mortgage products; Internet and mobile/SMS banking; payment services, ELMA accounts, and safety boxes; auto, liability, health, unemployment, life, house, and individual accident insurance products, as well as pensions products; and private banking services. The company’s SME banking products and services comprise SME specific products, such as support packages, and foreign trade financing and legislation, as well as related services; revolving, auto, house, discount, SME banking support, SME project, spot TL and foreign currency, and other loans, as well as overdraft accounts, and letters of guarantee and reference; credit cards; investment products and services, such as time deposit and e-savings accounts, mutual funds, T-bills/government bonds, Eurobonds, repos, equities, DCDs, forward transactions, and taxation services; cash management services; Internet banking; leasing, fleet management, and factoring services; and automobile, business premises, fire, freight, engineering, accident, liability, loan, and agriculture insurance products, as well as pension services. Its commercial/corporate banking products and services comprise various loans, credit cards, investment products, cash management services, leasing and factoring solutions, insurance and pension products, and corporate banking and project financing solutions. The company operates 937 branches in Turkey, as well as 8 branches and 3 representative offices internationally. The company was founded in 1946 and is headquartered in Istanbul, Turkey.

Details
Name: Turkiye Garanti Bankasi A.S.
TGBD
Exchange: LSE
Founded: 1946
TRY6,085,505,593
4,200,000,000
Website: http://www.garanti.com.tr
Address: Turkiye Garanti Bankasi A.S.
Levent Nispetiye Mah.Aytar Cad.,
No:2 Besiktas,
Istanbul,
34340,
Turkey
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
IBSE GARAN Common Stock Borsa Istanbul (BIST) TR TRY 29. Jun 1992
OTCPK TKGB.F Common Stock Pink Sheets LLC US USD 29. Jun 1992
OTCPK TKGB.Y ADS EACH 1 REPR 1 ORD TRY1 'LVL1' Pink Sheets LLC US USD 25. Sep 2000
LSE TGBD ADS EACH 1 REPR 1 ORD TRY1 'LVL1' London Stock Exchange GB USD 25. Sep 2000
Number of employees
Current staff
Staff numbers
22,024
Turkiye Garanti Bankasi employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 20:38
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/01/31
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.