Garanti posts 65 percent rise in Q3 net profit

Mon Nov 9, 2009 5:09pm GMT
 
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* Q3 net profit 667 million lira

* Bad loans at 4.1 percent, below sector average

* Gained market share in Turkish lira, forex loans

(Adds comment from conference call)

By Alexandra Hudson

ISTANBUL, Nov 9 (Reuters) - Garanti Bank (GARAN.IS), Turkey's most actively traded stock, posted a 65-percent rise in third-quarter net profit on Monday, helped, like its rivals, by a string of interest rate cuts.

Garanti made a third-quarter net profit of 667 million lira

($453 million), just below the 671 million forecast in a Reuters poll.   Continued...

 

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