November 8, 2012 / 8:36 AM / 5 years ago

Turkey's Ziraat Q3 profit up 31 pct year-on-year

ISTANBUL, Nov 8 (Reuters) - Turkey’s state-owned lender Ziraat Bank posted a third-quarter net profit to 614.5 million lira ($344 million), a 31 percent rise from the same period a year earlier.

Ziraat’s net profit stood at 470.5 million lira a year ago, according to a filing on Thursday.

The bank said its loans and receivables declined 4.2 percent to 68.4 billion lira in the third quarter from 71.4 billion lira at the end of 2011, while its deposits declined by 4.4 percent to 108.1 billion lira from 113.1 billion lira.

$1 = 1.7859 Turkish liras Writing by Ece Toksabay

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