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Halkbank Q1 profit declines 35.2% YOY

Türkiye Halk Bankasi AS reported first-quarter net income of 790 million Turkish lira, down 35.2% from 1.22 billion lira in the same period in 2017.

Net interest income for the quarter declined year over year to 1.97 billion lira from 2.28 billion lira, while net fees and commissions income decreased to 406 million lira from 537 million lira in the first quarter of 2017.

The Turkish bank reported net trading income of 30 million lira in the first quarter, down from 70 million lira a year earlier. Net operating income for the period amounted to 1.46 billion lira, compared to 2.02 billion lira a year ago.

Provision for loan losses and other receivables declined on a yearly basis to 463 million lira from 471 million lira.

The lender's capital adequacy ratio stood at 13.4% at the end of March, compared to 14.2% at 2017-end and 13.6% a year earlier. The common equity Tier 1 ratio stood at 12.0% at March-end, compared to 12.6% at the end of 2017 and a year earlier.

As of May 10, US$1 was equivalent to 4.25 Turkish lira.