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Halkbank Q1 net profit rises YOY as NII improves

reportedfirst-quarter net profit of 680.0 million Turkish lira, up from 584.0 millionlira in the year-ago period.

Net interestincome amounted to 1.53 billion lira, up from 1.28 billion lira a year ago. Netfees and commissions dropped to 292 million lira from 323 million lira in thefirst quarter of 2015. Net operating income for the quarter rose to 1.11billion lira from 1.01 billion lira.

Provisionsfor loan losses and other receivables increased on a yearly basis to 271.0 millionlira from 255.0 million lira.

Asof March 31, the group's capital adequacy ratio stood at 13.7%, down from 13.8%at the end of 2015.

As of April 28, US$1 wasequivalent to 2.81 Turkish lira.