Garanti Q2 profit

Garanti Bankası, the Turkish bank partly owned by General Electric Co., may report that their second-quarter net income fell, after gains from sales of insurance units were not repeated. Garanti may report a profit of YTL 500 million ($434 million) for the same period, according to the average of nine estimates compiled by Bloomberg. (Source)

Garanti is one of the best managed banks in Turkey and trying to catch Akbank for the first place. However, they are exposed to the same risks as the rest of the banking system. That's why their P/E ratio is only 9 and it was below 6 last month.