ISTANBUL---Turkey's Is Bank's (ISCTR.IS) third-quarter net
profit more than doubled, reflecting an increase in net interest
income and commissions, according to a statement from the Istanbul
Stock Exchange Wednesday.
MAIN FACTS:
-Net profit rose to 685.2 million Turkish lira ($380 million)
from TRY327.4 million in the same period a year earlier.
-The result was above the average TRY578.3 million forecast of
five analysts polled earlier by Dow Jones Newswires.
-Net interest income rose to TRY1.51 billion from TRY1.052
billion.
-Trading loss was TRY11.3 million compared with TRY41.9 million
a year earlier.
-Net commission income rose to TRY405.8 million from TRY357.9
million.
-"The provisions that the bank has set aside for loans fell and
net interest margins improved 20% compared with the previous
quarter which supported the bottom line," said a banking analyst
with Global Securities.
-At 1320 GMT, Is Bank's shares were 0.4% higher at TRY5.8. The
overall Istanbul market was down 0.36%.
-Istanbul Bureau, Dow Jones Newswires, +90(0)212 272 9287;
djnews.istanbul@dowjones.com
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