Update: Vakıfbank 1q Net Profıt Up 3.7% At Try305m
Turkish state-run lender Vakifbank's (VAKBN
Turkish state-run lender Vakifbank's (VAKBN.IS) unconsolidated net profit rose to 305.1 million Turkish lira ($201 million) in the first quarter of 2010, the Istanbul Stock Exchange's website showed Thursday.
The bank posted a net profit of TRY294.2 million in the corresponding period of 2009.
According to the website, the bank's net interest income fell to TRY707 million in the first quarter from TRY772 million a year earlier, while its net operating profit rose to TRY381.2 million from TRY367.4 million.
In a statement, Vakifbank said the rise in net profit stemmed mainly from growth in loans.
The bank's total cash loans rose 5.3% on the year to TRY36.3 billion in the first quarter compared with the end of 2009, while its deposits increased 8.4% on the year to TRY48.4 billion in the same period. The lender didn't give comparative figures.
(YC-YC-E-ENG)
The bank posted a net profit of TRY294.2 million in the corresponding period of 2009.
According to the website, the bank's net interest income fell to TRY707 million in the first quarter from TRY772 million a year earlier, while its net operating profit rose to TRY381.2 million from TRY367.4 million.
In a statement, Vakifbank said the rise in net profit stemmed mainly from growth in loans.
The bank's total cash loans rose 5.3% on the year to TRY36.3 billion in the first quarter compared with the end of 2009, while its deposits increased 8.4% on the year to TRY48.4 billion in the same period. The lender didn't give comparative figures.
(YC-YC-E-ENG)