26 May 2005 -

Report Summary

Significantly lower than our estimation of US$ 35.8 mn, Dışbank disclosed YTL 20.3 mn (US$15.1) on its BRSA bank only 1Q 2005 balance sheet. The net interest income is in line with our estimation but high FX loss and almost twice than the expected loan loss and other provisions resulted in an operating loss. However income from affiliates and deferred tax income helped for a positive bottom line, with a net profit of US$ 15.1 mn.

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