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Türkiye İş Bankası Q2 profit drops YOY

Türkiye İş Bankası AŞ reported second-quarter consolidated net profit of 1.39 billion Turkish lira, down from 1.76 billion lira a year ago.

Net interest income rose year over year to 5.62 billion lira from 4.75 billion lira, while net fees and commission income rose to 1.12 billion lira from 928.6 million lira.

The bank's net trading loss widened on a yearly basis to 1.73 billion lira from 393.5 million lira. Other operating expenses amounted to 2.86 billion lira in the period, up from 2.58 billion lira in the second quarter of 2018.

For the first half, the lender's net profit was 2.87 billion lira, down from 3.73 billion lira a year ago.

The bank's capital adequacy ratio stood at 16.94% at the end of June, compared to 16.49% at 2018-end.

As of Aug. 8, US$1 was equivalent to 5.46 Turkish lira.