Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Akbank Falls to Lowest Since January After Profit Drops 25%

Don't Miss Out —
Follow us on:

April 30 (Bloomberg) -- Akbank TAS, the Turkish lender in which Citigroup Inc. is seeking to reduce its stake from 20 percent to less than 10 percent, slumped to the lowest since January after saying first-quarter profit fell 25 percent.

The shares dropped 2.7 percent to 6.52 liras at the close in Istanbul, their lowest since Jan. 25.

First-quarter net income fell to 555.6 million liras ($316 million), according to a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

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