Brief: Is Bank Q2 Net Profit Decreases To 15.10 Bln Lira YoY, Revises 2024 Guidance

Turkiye Is Bankasi AS

07/08/2024 16:49

Aug 7 (Reuters) - Turkiye Is Bankasi AS  ISCTR.IS :
    * Q2 NET PROFIT OF 15.10 BILLION LIRA VERSUS NET PROFIT OF
18.60
BILLION LIRA YEAR AGO
    * Q2 NET INTEREST INCOME OF 8.58 BILLION LIRA VERSUS 15.24
BILLION
LIRA YEAR AGO
    * Q2 NET FEE AND COMMISSION OF 21.50 BILLION LIRA VERSUS
7.47
BILLION LIRA YEAR AGO
    * END OF Q2 LOANS OF 1.45 TRILLION LIRA VERSUS END 2023
LOANS OF
1.17 TRILLION LIRA YEAR AGO
    * IS BANK EXPECTS 2024 RETURN ON AVERAGE TANGIBLE EQUITY TO
BE
AROUND %30 (PRVS FORECAST: HIGHER THAN 35%)
    * IS BANK EXPECTS 2024 NET INTEREST MARGIN TO BE AROUND 2%
(PRVS
FORECAST: AROUND 4.0%)
    * IS BANK EXPECTS 2024 NET FEES & COMMISSION GROWTH TO BE
STRONG
UPSIDE (PRVS FORECAST: MORE THAN 100%)

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