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Halkbank Snaps Four-Day Losing Streak as 2Q Profit Surges

July 24 (Bloomberg) -- Turkiye Halk Bankasi rose as much as 3%, most since July 4, after reporting 2Q profit jumped 38% to 709m liras ($388m). * Stock -2.5% this month, +40% this year; Turkey’s benchmark

index -1.8%, +19.8% respectively * Outpaced 512.4m-lira net income a year earlier; beat 617.3m- lira average of six analyst ests. compiled by Bloomberg * NOTE: Ak Investment downgraded co. July 23 to market

perform, equivalent of hold, from market outperform, with a

12-month PT of 15.5 liras. * NOTE: Moody’s assigned senior debt rtg Baa2 with stable

outlook July 20 * NOTE: Co. sold 750m liras of 175-day bonds at a yield of 9%

July 19

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

To contact the reporter on this story: Aydan Eksin in Istanbul at +90-212-317-3904 or aeksin@bloomberg.net

To contact the editor responsible for this story: Ash Kumar at +44-20-3525-8451 or akumar314@bloomberg.net

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