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Yapı ve Kredi posts YOY rise in FY'16 net profit

Yapi ve Kredi Bankasi AS posted full-year 2016 profit attributable to the group of 2.93 billion Turkish lira, up from 1.91 billion lira in 2015.

Net interest income increased year over year to 8.22 billion lira from 7.18 billion lira, while net fees and commission income rose to 2.97 billion lira from 2.84 billion lira.

The bank reported a net trading income of 187.3 million lira, compared to loss of 439.1 million lira in 2015.

Provisions for losses on loans and other receivables reached 2.96 billion lira, up year over year from 2.65 billion lira.

Yapi ve Kredi's capital adequacy ratio was 14.2% at 2016-end on a bank-only basis, up 40 basis points year over year. The common equity Tier 1 ratio was 10.6%.

As of Feb. 2, US$1 was equivalent to 3.73 Turkish lira.