15 September 2005 -

Report Summary

Yazicilar Holding disclosed US$ US$55.8 mn net profit in its IFRS based consolidated financial statements for 1H05 in line with our estimate of US$57 mn vs a net profit of US$43 mn in 1H04, representing a 41% increase y/y. The increase is resulted from the improvement in the operating performance of the finance segment, particularly Alternatifbank, on a large extent.

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