TEB of Türkiye posts 34 percent rise in Q1 net profit

Reuters - Turkish lender Turkiye Ekonomi Bankasi, or TEB, on Tuesday said its first quarter consolidated net profit rose 34 percent year-on-year to TRY 78.4 million (USD 50.1 million). The bank's total assets rose five percent to TRY 16.7 billion, it said in an e-mailed statement. However, the bank did not disclose a figure for its loan book. TEB's ratio of non-performing loans rose to 3.74 percent from 1.8 percent in the same period a year ago, still below the industry average of 4.24 percent.