Sekerbank Advances Most in Four Months After Profit Doubles

Sekerbank TAS (SKBNK), a Turkish bank, rose the most in almost four months after reporting first-quarter profit doubled to 60.7 million liras ($34 million), beating estimates.

Sekerbank jumped 4.3 percent to 97 kurus at the close in Istanbul, the biggest advance since Jan. 12.

The bank’s net income rose from 30.3 million liras in the first quarter of 2011, it said in a statement to the Istanbul Stock Exchange today. It was expected to earn 46.6 million liras, according to the average of six analyst estimates compiled by Bloomberg.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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