GARAN Banking
🏢 Company Profile
SME, corporate, commercial, individual and private banking with payment systems; overseas operations in the Netherlands and Romania. Source: Midas company cards, 24.10.2026.
- BANCO BILBAO VIZCAYA ARGENTARIA — 85.97%
- Last quarter (2026/6): sales 118208000000 TL, net profit margin 53.9% (high)
- Sales growth: YoY %+87.1 (increase).
- Net profit growth: YoY +18.8% (increase).
- Owners' Equity Growth: YoY %+7.9 (increase)
- Asset turnover 0.1 (TTM revenue / total assets) — heavy asset base (may be the norm for a capital-intensive sector).
- Financial liabilities / owners' equity 0% (low leverage); total liabilities (short+long) / owners' equity 0%.
- Current ratio (TradingView balance sheet section) 0.5 — short-term liability pressure.
- Multiples: P/E 4.5 · P/B 1.1 · dividend yield 4.0.
- Source: İş Yatırım quarterly financial statements + TradingView TTM (06.10.2026); comments are generated with fixed threshold rules and are not investment advice.
📋 Announced Financial Statements· manually added financial table summary · last pull: 2026-09-23
| Period | Net Interest Income (mlr TL) | Net Profit (mlr TL) | Profit Margin | Total Assets (mlr TL) | Equity (mlr TL) |
|---|---|---|---|---|---|
| 2026/6 | 118.2 (+ 87.1% YoY) | 63.7 (+ 18.8% YoY) | 53.9% | 4,412.3 | 487.2 |
| 2026/3 | 60.8 (+ 99.9% YoY) | 33.3 (+ 31.8% YoY) | 54.8% | 4,016.8 | 451.3 |
| 2025/12 | 165.3 (+ 64.7% YoY) | 110.6 (+ 20.0% YoY) | 66.9% | 3,820.9 | 444.4 |
| 2025/9 | 108.6 (+ 53.5% YoY) | 84.0 (+ 25.6% YoY) | 77.4% | 3,499.0 | 410.4 |
| 2025/6 | 63.2 (+ 37.8% YoY) | 53.6 (+ 19.6% YoY) | 84.8% | 3,246.0 | 377.6 |
| 2025/3 | 30.4 (+ 54.8% YoY) | 25.3 (+ 13.3% YoY) | 83.1% | 3,035.0 | 339.5 |
| 2024/12 | 100.3 | 92.2 | 91.9% | 2,607.7 | 329.9 |
| 2024/9 | 70.7 | 66.9 | 94.6% | 2,496.2 | 302.6 |
| 2024/6 | 45.9 | 44.8 | 97.8% | 2,313.1 | 279.3 |
| 2024/3 | 19.7 | 22.3 | 113.5% | 2,165.0 | 255.3 |
Income statement items (net interest income and net profit) are cumulative from the beginning of the year; balance sheet items are period-end balances. Source: İş Yatırım financial statements (based on KAP disclosures).
🔎 Fundamental Analysis Summary · automatic
- Net profit margin 10.7% (normal net profit margin).
- Current ratio 0.48 — under short-term liability pressure.
- Dividend yield 4.2%.
Rule-based summary: It is generated from İş Yatırım financial statements (TTM) and TradingView base data with fixed thresholds; no LLM, no hallucination risk. It is not investment advice.
Valuation and Profitability · single source, last 12 months
Last 5 trading days return: -1.4%
| Market value | 527.1 billion TL |
| Equity (2026/6) | 487.2 billion TL |
| Net profit (last 12 months) | 120.7 billion TL |
| P/E (last 12 months) | 4.4 |
| P/B | 1.08 |
| ROE (last 12 months) | 24.8% |
| Financial debt / equity | — |
Source: İş Yatırım financial statements (KAP disclosures) — same source as the balance sheet table.
Macro Sensitivity · Banking sector
Regime: high inflation + tight monetary policy (6.27 point real interest) · moderate domestic demand
| Trend | positive |
| Score | +2 |
| Channels | interest rate increase, domestic demand increase |
Sector sensitivity matrix x current macro regime; detail Macroeconomic Evaluation.
Technical Status
| General | STRONG SELL |
| Short term (EMA 5-8-13-21) | SELL |
| Medium term (EMA 34-55) | SELL |
| Long term (EMA 89-144) | SELL |
| Wave Trend (indicator) | SELL |
| Channel position | 15% |
| Trend strength (r) | -0.15 |
| Score | 0 |
EMA sequence + Wave Trend + 60-day regression channel. Details: Technical Scan · Stock Center
Last 7 Days News
- Garanti BBVA posts 98.2 billion lira net profit in first 9 months — Dünya Gazetesi · 30.10
- Garanti BBVA posts 98.2 billion lira net profit in 9 months — Ekonomi Gazetesi · 29.10
- Garanti BBVA (GARAN) 2026 Q3 balance sheet: Net profit 16%... — Hisse.net · 28.10
- Garanti BBVA's nine-month consolidated profit reached 98.2 billion TL, solo profit rose 15.6% — Foreks.com · 28.10
- Garanti BBVA completed a bond issuance of 15 million GBP — Investing.com Türkiye · 27.10
- Garanti BBVA 400 milyon avroluk DPR transaction — Anadolu Ajansı (news agency) · 23.10
📋 KAP Notifications
- 23 Ekim 15:25 — Circuit Breaker Notification on a Share Basis→
- 23 Ekim 11:40 — Default Transaction→
- 23 Ekim 10:28 — Default Transaction→
- 22 Ekim 18:13 — Special Situation Disclosure (General)→
- 22 Ekim 18:10 — Special Situation Disclosure (General)→
- 22 Ekim 11:47 — Default Transaction→
- 22 Ekim 10:10 — Default Transaction→
- 21 October 18:12 — SPK Transaction Ban Due to Share Announcement →
All notifications: KAP →
📝 Evaluations· prepared manually · last update: 23.09.2026
📈 Technical Analysis
Garanti BBVA is trading at 133.70 TL with a 0.15% decline on September 23, 2026. With short and medium-term EMA sequence, it's in Wave Trend AL position; while long-term EMA remains at BEKLE, the chart is summarized as 3/4 AL. Channel position is 64% and trend strength (r) is 0.23, indicating an upward but low-momentum structure. The stock is priced 11% below its 60-day peak of 150.00 TL and 19% above the 112.55 TL support zone; it's moving in line with the strong performance in the banking index.
🌍 Macroeconomic Evaluation
The deepening of the disinflation program is doubly positive for quality banks like Garanti: While TÜFE's decline to 31.5% reduces returns on TÜFE-indexed securities, interest rate cuts support credit volume and net interest margins, and valuation gains occur in the securities portfolio. In periods of accelerated foreign investor inflows, Garanti has historically generated returns above the index; the downward trend in CDS risk premium strengthens this channel. The balanced movement of USD/TL at 48.83 facilitates the bank's foreign exchange position management. The scale advantage in digital banking protects against branch cost inflation. With gram gold at 6.786 TL, stable deposit behavior maintains a strong funding base. Main risks: slow decline in inflation, regulatory interventions, and macroprudential limits on credit growth.
🧾 Balance Sheet Evaluation
Garanti BBVA increased its net profit by 18.8% annually in the first half of 2026; in the second quarter, it maintained stable profit generation with 30.4 billion TL net profit (+7.3%). The bank, which generated a total of 120.7 billion TL net profit in the last four quarters, is priced with a market value of ~562 billion TL at ~4.7x P/E and ~1.2x P/B ratios; since FD/EBITDA is not meaningful in banking, evaluation is based on these two multiples and profitability. ROE of 24.8% in the last four quarters is above the sector average and offers an equity return close to inflation; strong growth in fee-commission income supports profit quality. The normalization of profit/revenue ratio from 84.8% to 52.9% compared to the same period last year shows that the extraordinary base effect created by inflation accounting has been eliminated and profitability has settled on a sustainable ground. Asset quality and provision buffers are solid; core capital ratio is high. Dividend yield of around 3.9% is above the sector average. BBVA's majority ownership provides a corporate governance premium among foreign investors. Overall assessment: Garanti is among the strongest in terms of profitability-quality balance among BIST banks; it carries potential for multiple expansion in a macro normalization scenario.
This section is manually updated; for informational purposes only, not investment advice.