HSBC signals upside potential for Turkish banks
HSBC said Turkish banks offer upside potential at their current valuations.
According to the institution, Turkish banks are trading at a 25% discount to their emerging-market peers on a price-to-book basis.
HSBC maintained its “buy” ratings on Akbank, Garanti BBVA, İş Bankası C and Yapı Kredi. The bank sees upside potential of 28.8% for Akbank, 26.8% for Garanti BBVA, 20% for İş Bankası C and 17.7% for Yapı Kredi, while expecting a strong recovery in banking-sector profitability from the final quarter of 2026.
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