Silver Point

Thomas J. Monaco

Independent Insight Provider

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Thematic (Sector/Industry)

* Stronger USD on the back of higher interest rates, and higher USD-denominated oil prices are the perfect storm for the Turkish economy and TRL. * Even in a best case scenario of a soft landing and a Chinese rescue package, significant EPS downgrades are likely with 2018 GDP warnings, the pro-cyclicality of IFRS9 which will increase loan provisioning by 100 bps, and imminent loan growth deceleration on the back of higher local rates. * Economic data is weak: Current account deficit of 6.5%…

* Stronger USD on the back of higher interest rates, and higher USD-denominated oil prices are the perfect storm for the Turkish economy and TRL. * Even in a best case scenario of a soft landing and a Chinese rescue package, significant EPS downgrades are likely with 2018 GDP warnings, the pro-cyclicality of IFRS9 which will increase loan provisioning by 100 bps, and imminent loan growth deceleration on the back of higher local rates. * Economic data is weak: Current account deficit of 6.5%…

Global Head of Research, Smartkarma

Mark Artherton

Global Head of Research

LR Research

Macroeconomics

We can all agree that the banking sector is central to modern economies.  Balance sheets at Financial institutions may not be universally understood but they are open to scrutiny under IFRS or local GAAP.  There are some significant changes coming to IFRS for banks as the  International Accounting Standards Board moves ahead with its (misguided?) attempt to apply a market value to all assets.  IFRS9 is another step in this direction for financial institutions ( covered by <a href="https://www.smartkarma.com/profiles/12" target="_blank" data-smartkarma-citation="accounts:12">Daniel Tabbush</a> here…

We can all agree that the banking sector is central to modern economies.  Balance sheets at Financial institutions may not be universally understood but they are open to scrutiny under IFRS or local GAAP.  There are some significant changes coming to IFRS for banks as the  International Accounting Standards Board moves ahead with its (misguided?) attempt to apply a market value to all assets.  IFRS9 is another step in this direction for financial institutions ( covered by Daniel Tabbush here…

Off-Balance Sheet: China and Beyond - When to Worry

Turkey

Turkiye Is Bankasi A.S. (Isbank) provides banking services to retail and corporate customers and to public sector. Isbank also offers asset and wealth management, capital markets, securities brokerage and insurance services throughout Turkey. Isbank holds equity investments in Turkish companies mainly in glass industries.

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Turkiye Is Bankasi (ISCTR TI)

Turkey Shoot

* Stronger USD on the back of higher interest rates, and higher USD-denominated oil prices are the perfect storm for the Turkish economy and...

Thomas J. Monaco

Off-Balance Sheet: China and Beyond - When to Worry

We can all agree that the banking sector is central to modern economies. Balance sheets at Financial institutions may not be universally...

Mark Artherton

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)