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Akbank T.A.S. Message Board

  • dasamaru40 dasamaru40 Mar 10, 2011 2:55 PM Flag

    fliujniligu reply to March 1st

    The Turkish government has instituted a policy of lowering rates to try to discourage 'hot money' from entering the country; at the same time, it has raised reserve requirements to slow bank lending and 'cool-off' the economy. The stocks of the two banks, Akbank and Garanti Bankasi slid in recent sessions , but they were a wonderful opportunity to gather-up more shares at depressed prices. Garanti fell to USD4.10 and Akbank , below $8.50. The Turkish Investment Fund also cratered and presented one with another vehicle for quick gains. Down on a Monday to the low 14s and up on a Wednesday to 15+ . The dividend on Garanti appears to be US$.136 and Akbank has also raised its dividend. With the turmoil across the Arab world, it is highly likely that huge amounts of money are fleeing to Turkey as a safe haven and to a Muslim country with strong financials and a strong and tested banking system.A good amount of that money is likely to remain in Turkey for quite a long time. Good luck in your activity in the ISE-100 or wherever else, you have placed your investments.

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    • Hi

      I just noticed your message. I sold my AKBTY at 11.1 more than one month ago. I did a small profit and chose to get out. After all, there are headwinds I misunderstand in Turkey and AKBTY is still at market cap / equity on balance sheet about 2. This is a high ratio I am willing to pay only for ultra stable high quality banks in solvent and growing countries with democracy and which I understand better.

      There is such investment available at Price / equity below one with 20% tier 1 ratio in the foremost emerging market in the world and as a bonus, this market is way far from Arabic messing places : BSBR. This said, I watch for AKBTY to sink down to book value. Until then I buy other stuff.

      NBG is also owner of Finansbank Turkey, which itself has market cap higher than whole NBG's one. If Greek default proves to be hyped legend and fails to wipe out NBG, then there is massive value out there.

      At last, if you want to pay a premium, buy BMA. High growth, High quality, reasonable price.

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