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TYABY Turkiye IS Bankasi AS C (PK)

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Share Name Share Symbol Market Type
Turkiye IS Bankasi AS C (PK) USOTC:TYABY OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Is Bank's Net Profit More Than Doubles

14/11/2012 2:28pm

Dow Jones News


Turkiye IS Bankasi AS C (PK) (USOTC:TYABY)
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ISTANBUL---Turkey's Is Bank's (ISCTR.IS) third-quarter net profit more than doubled, reflecting an increase in net interest income and commissions, according to a statement from the Istanbul Stock Exchange Wednesday.

MAIN FACTS:

-Net profit rose to 685.2 million Turkish lira ($380 million) from TRY327.4 million in the same period a year earlier.

-The result was above the average TRY578.3 million forecast of five analysts polled earlier by Dow Jones Newswires.

-Net interest income rose to TRY1.51 billion from TRY1.052 billion.

-Trading loss was TRY11.3 million compared with TRY41.9 million a year earlier.

-Net commission income rose to TRY405.8 million from TRY357.9 million.

-"The provisions that the bank has set aside for loans fell and net interest margins improved 20% compared with the previous quarter which supported the bottom line," said a banking analyst with Global Securities.

-At 1320 GMT, Is Bank's shares were 0.4% higher at TRY5.8. The overall Istanbul market was down 0.36%.

-Istanbul Bureau, Dow Jones Newswires, +90(0)212 272 9287; djnews.istanbul@dowjones.com

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