Analysts’ Consensus Estimates

The information contained herein is arithmetic average for each financial item of the estimates provided by analysts or is available to public. The data is provided solely as a courtesy and for convenience. This does not imply that T. Garanti Bankası A.Ş. (“Garanti BBVA”) endorses, concurs with or adopts such information, conclusions or recommendations and does not approve or assure the accuracy or correctness of the referred information.

Any opinions, forecasts, estimates, projections or predictions regarding Garanti BBVA's performance (ultimately represented by the figures of the consensus estimates) given by the analysts only reflect their view and do not represent the opinions, forecasts, estimates, projections or predictions of Garanti BBVA or its management. Whilst reasonable care has been taken to ensure that the contents of this publication are not untrue or misleading, Garanti BBVA assumes no liability for the accuracy of such estimates and undertakes no obligation to update or revise such estimates, even if they differ from Garanti BBVA’s own forecasts or expectations. Copies of reports by any of the listed analysts must be obtained directly from the analysts or their firms. Garanti BBVA does not distribute such reports. 

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Consensus* (BRSA Financials) (YoY)

2023E High Low Average
NII growth (inc. swap expenses) (%) 14,1% -6,1% 4,9%
Net Fees&Commissions growth (%) 132,0% 78,0% 120,4%
OPEX growth (%) 130,0% 96,7% 111,1%
EPS growth (%) 42,0% 24,0% 33,9%
Net CoR (Provisions for Stage 1,2,3 - Provision reversals for total loans) 108bps 51bps 79bps
Net Income 83.175 72.697 78.772
ROAE 42,6% 38,1% 41,0%
Shareholders' equity 240.089 221.145 231.949

 

2024E High Low Average
NII growth (inc. swap expenses) (%) 82,0% 16,3% 51,8%
Net Fees&Commissions growth (%) 94,9% 30,0% 60,4%
OPEX growth (%) 78,0% 37,3% 55,7%
EPS growth (%) 25,3% -18,2% 10,0%
Net CoR (Provisions for Stage 1,2,3 - Provision reversals for total loans) 144bps 83bps 122bps
Net Income 103.564 61.183 86.499
ROAE 35,7% 24,9% 31,8%
Shareholders' equity 339.703 271.112 311.828

 

2025E High Low Average
NII growth (inc. swap expenses) (%) 50,7% -6,5% 23,9%
Net Fees&Commissions growth (%) 48,0% 15,3% 27,4%
OPEX growth (%) 35,0% 21,5% 29,2%
EPS growth (%) 35,2% 7,8% 20,4%
Net CoR* (Provisions for Stage 1,2,3 - Provision reversals for total loans) 138bps 80bps 108bps
Net Income 132.215 73.775 107.041
ROAE 35,3% 24,3% 29,6%
Shareholders' equity 455.139 335,709 407.790

* Consensus includes the estimates of 8 analysts, last update on November 29, 2023

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