24 May 2006 -

Report Summary

20% lower than our estimation TSKB posted YTL 27.2 mn (US$ 20.5 mn) net profit on its 1Q2006 BRSA bank only financials. Although the net interest income is strictly in line with our expectation, FX loss instead of anticipated a mere FX gain resulted in a 20% deviation of our estimate from the actual figure.

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