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Halkbank Q2 profit up YOY

Türkiye Halk Bankasi AS reported group net profit of 1.11 billion Turkish lira for the second quarter, or 88.58 kurus per share, up from 939.6 million lira, or 75.17 kurus per share, in the year-ago period.

Net interest income amounted to 2.06 billion lira, up from 1.66 billion lira in the second quarter of 2016. Net fee and commission income rose to 460.5 million lira from 301.3 million lira.

Dividend income, meanwhile, dropped year over year to 3.3 million lira from 39.8 million lira. Net trading profit rose to 46.8 million lira from 23.8 million lira.

Impairment loss provisions on loans and other receivables declined to 262.4 million lira from 279.3 million lira in the second quarter of 2016.

The Turkish bank's first-half group profit amounted to 2.46 billion lira, up from 1.48 billion lira in the same period in 2016.

Halkbank's Basel III Tier 1 ratio stood at 13.0% at June-end, up from 12.6% as of March 31.

As of Aug. 3, US$1 was equivalent to 3.54 Turkish lira.