The continuous trading of Akbank (IS:AKBNK) shares faced an abrupt halt following a notable decline. The shares witnessed a 4.23% drop, a result of accelerated sales that mirrored the downturn in XBANK, which plunged over 3%.
In the first quarter of 2025, Akbank reported a net profit of 13.7 billion TL, surpassing the ForInvest News survey estimate of 12 billion 921.6 million TRY. This represents a robust 49% increase in quarterly profit and a 4% year-on-year growth.
The potential slowdown in economic activity, driven by rising interest rates, has prompted concerns over increased net cost of risk for banks. Following the recent balance sheet disclosures, Yapi Kredi Yatırım adjusted its target price for Akbank, lowering it from TRY82 to TRY68, while Citi revised its target from TRY85 to TRY70.
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