trending Market Intelligence /marketintelligence/en/news-insights/trending/g-gkdja4j8j7lvfutwrl_q2 content esgSubNav
In This List

Akbank posts YOY rise in Q2 net income


Banking Essentials Newsletter: 23rd August edition


Banking Essentials Newsletter: 9th August Edition


Navigating Industry Level Credit and Market Risks in the Light of Slow Growth and Interest Rate Hikes


Kensho Launches Word Error Rate Calculator

Akbank posts YOY rise in Q2 net income

Akbank TAS reported second-quarter net income of 1.59 billion Turkish lira, up from 1.57 billion lira earned in the year-ago period.

Net interest income amounted to 3.89 billion lira, up from 2.75 billion lira in the second quarter of 2017. Net fees and commission income increased on a yearly basis to 926.5 million lira from 744.9 million lira.

The Turkish lender reported a net trading loss of 75.2 million lira, compared to 152.5 million lira a year earlier.

Akbank's first-half net income totaled 3.28 billion lira, up from 3.02 billion lira a year ago.

Provisions for loan losses, net of collections, amounted to 2.03 billion lira, compared to 356 million lira in the first half of 2017.

First-half return on equity stood at 15.9%, compared to 17.1% a year ago.

The bank's Tier 1 ratio stood at 13.3% as of June 30, compared to 13.6% at March-end and 14.2% a year earlier. The capital adequacy ratio was 15.5% at the end of June, down from 16.0% a year earlier.

The 2018 figures are based on the new International Financial Reporting Standards, while those of the prior-year period were calculated under Turkish accounting standards, Akbank said.

As of July 25, US$1 was equivalent to 4.83 Turkish lira.