Garanti Faktoring first quarter net surges

Net income increased 39 percent to 2.5 million Turkish Liras ($1.5 million) in the three months to March from a year ago, the company said in a filing with the exchange late Wednesday. Garanti Faktoring shares surged 12.4 percent on Friday, to 2.90 liras, but dropped yesterday, trading at 2.86 liras at the end of the first session. The shares gained 65.3 percent since the start of the year.