Wednesday, May 14, 2008

Is Bankasi lifts net profit 51% y/y to TRY 555mn in Q1.

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Is Bankasi lifts net profit 51% y/y to TRY 555mn in Q1. One the largest commercial banks Turkiye Is Bankasi increased its net profit by 51% y/y to TRY 555mn (around EUR 287.8mn) in the first quarter. The bank’s assets size reached TRY 84bn at end-March. Total loans extended by the bank in the first three months rose by 14% q/q; local currency loans increased by 14% while foreign currency loans, in terms of TRY, rose 32%. Total assets grew by 5% to TRY 80bn from end-2007 while deposits rose by 6% to TRY 51.2bn. Is Bankasi’s loan volume amounted to TRY 38.9bn at end-Q1 and the loans’ share in the lender’s balance sheet reached 46%. In the first quarter, commercial loans grew by 11% against 6% expansion seen in consumer loans, according to Is Bankasi.

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Is Bankasi lifts net profit 51% y/y to TRY 555mn in Q1.

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