Turkey's Vakifbank Reports 294.2 Mln Tl Net Profit In Q1

ISTANBUL - Turkey's state-owned Vakifbank posted 294.2 million Turkish liras (nearly
188.1 million USD -- 1 USD equals 1.5640 TL) net profit in the first quarter.

The bank said in a statement on Friday its equity capital rose by 8 percent and it reached 56.2 billion TL as total deposits was up by 6.5 percent to 39.5 billion TL.

Vakifbank's total cash and non-cash credits also increased to 40 billion TL.