TEB of Turkey posts 34% rise in Q1 consolidated net

ISTANBUL, May 5 (Reuters) - Turkish lender Turkiye Ekonomi Bankasi (TEBNK.IS), or TEB, on Tuesday said its first-quarter consolidated net profit rose 34 percent to 78.4 million lira ($50.1 million) year-on-year.

The bank's total assets rose 5 percent to 16.7 billion lira, it said in an e-mailed statement.

It did not give a figure for its loanbook.

TEB's ratio of non-performing loans rose to 3.74 percent from 1.8 percent in the same period a year ago, still below the industry average of 4.24 percent.

The change in TEB's non-performing loan ratio was calculated using figures it previously released.

TEB released the results after the stock market closed. Shares in TEB rose 2.1 percent to 0.96 lira on Tuesday. The stock risen 17 percent this year.