Bloomberg News

Halkbank May Say Fourth-Quarter Profit Rose 2.8 Percent

February 15, 2012

Sibel Akbay

Feb. 15 (Bloomberg) -- Turkiye Halk Bankasi AS, a Turkish state-run bank, may say fourth-quarter profit increased an annual 2.8 percent, as it earned more from inflation-linked bonds and net interest income climbed due to a higher ratio of loans to deposits.

Net income will probably be 513.4 million liras ($291 million), compared with 499.6 million liras in the fourth quarter of 2010, according to the average of 17 analysts’ estimates in a Bloomberg survey. Predictions ranged from 473 million liras to 575 million liras. Halkbank had a profit of 503.8 million liras in the third quarter of 2011, an increase of 5.9 percent from a year ago.

“Halkbank’s net interest income and commissions revenue will be higher as loan-to-deposit spreads increased in the fourth quarter,” Recep Demir, analyst at Garanti Yat?r?m Menkul Kiymetler in Istanbul, said in a phone interview. “The bank will benefit from CPI-linked bonds, like other big lenders.”

Halkbank’s fourth-quarter profit may “appear smaller” due to rising discretionary provisions for loans, Cagdas Dogan, analyst at Istanbul-based Turk Ekonomi Bankasi AS, a unit of BNP Paribas SA, said in a phone interview. Halkbank is expected to report earnings tomorrow.

--Editor: Aydan Eksin

To contact the reporter on this story: Sibel Akbay in Istanbul at

To contact the editor responsible for this story: Mark Bentley at

China's Killer Profits
blog comments powered by Disqus