Turkish Banks See Strong Results İn Second Quarter

Turkish banks saw strong results in the second quarter of this year.



A number of major Turkish banks have released financial results in the past few days.



Halk Bank, Garanti, Is Bank and Finans Bank posted increases in net profit in the second quarter, while Yapi Kredi and Akbank saw declines in profits. But all of these banks outperformed analyst estimates.



On Thursday, Garanti bank announced net profit up 38.2 percent to 103 billion Turkish liras ($37 billion).



Also on Thursday, Halkbank announced an 11 percent increase in net profit to 645.8 million ($232.1 million) Turkish liras in the second quarter from the previous quarter, bringing total net profit in first half to 1.23 billion Turkish liras (($442.6 million).



Finansbank, of which National Bank of Greece is the main shareholder, saw its net profit in second quarter up by 3 percent to 221.4 million ($79.7 million) from a year earlier. 



Yapi Kredi saw second quarter net profit fall 22 percent from the previous year, at 407.1 million lira ($146.12 million).



On Friday, Turkey's Akbank said it posted a net profit of 682 million liras ($254.4 million). And Is Bank posted profit of 907.9 million Turkish liras . - Ankara