Turkey's Yapı Kredı 1q Net Profıt Up 19.6% At Try563.5m
Private lender Yapi Kredi Bank (YKBNK.IS) said late Wednesday its first-quarter consolidated net profit rose 19.6% on year to TRY563.5 million ($371.5 million).
According to the Istanbul stock exchange's website, the rise in net profit mainly stemmed from rising net interest incomefalling interest costs.
The bank's net interest income rose to TRY994.5 million in the first quarter from TRY955.4 million a year earlier, while its interest costs fell to TRY608.8 million from TRY1.2 billion.
The bank's loans totaled TRY42.49 billion in the first quarter, assets were at TRY74 billiondeposits were at TRY44.9 billion. The lender didn't give comparative figures.
Yapi Kredi is controlled by Turkish conglomerate Koc Holding AS (KCHOL.IS)Italy's UniCredit SpA (UCG.MI).
(SB-SB-ENG)