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Dexia unit posts record high profits
  11.11.2011


Denizbank, the Turkish unit of Belgium’s Dexia, announced on Nov. 4 its third quarter profits increased almost six-fold, as Turkish lenders and corporations keep on posting profits for the period.



 


Net income at Denizbank, the lender on the Dexia “for sale” list, climbed to 471.8 million liras from 78.8 million liras in the third quarter of 2010, after the bank posted 387 million liras net profit from the sale of an insurance unit, according to a statement by the lender. Denizbank’s operational profit was 84.8 million liras compared with 78.8 million liras a year ago.

The bank owned by Unicredit and Koc Holding, Yapı Kredi posted a 406.1 million-lira loss in the third quarter. The total size of the assets of the lender reached 116 billion liras by the end of the third quarter, rising 25 percent compared with 2010. Turkey’s biggest bank by market value said the third-quarter profit dropped by 7.7 percent annually. The lender’s net income dropped to 481.6 million liras in the third quarter from 521.7 million liras in the same period last year, according to a recent statement by the bank.

Turkey’s second biggest group of companies, Sabancı Holiding’s profit rose by 62 percent in the third quarter to 433.9 million liras compared to the third quarter last year. The lender’s net income increased from 268.5 million liras in the same period last year, according to a Sabancı statement on Oct. 4.

Halkbank, a state-run Turkish bank, said third-quarter profit rose to 503.8 million liras. Net income of the lender increased from 475.6 million liras compared with the same period in 2010.

Koç Holding, Turkey’s biggest group of companies, posted 498.4 million liras profit in the third quarter, down from 659.1 million liras in the same quarter of the last year. Turkey’s sole oil refiner Tüpraş’ profit in the third quarter rose 1.6 percent to 354.7 million liras from 349.2 million liras in the same quarter of last year. Turkish lender Akbank posted a net profit of 459.9 million liras in the third quarter.

Hürriyet Gazetecilik, which publishes Hürriyet, Hürriyet Daily News and Radikal posted a 62.5 million-lira loss in the third quarter, compared with 17.2 million liras in profit posted in the third quarter of last year.

  
  

Source : hurriyetdailynews.com
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